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H2Carrier AS and Anori A/S to co-operate in developing a large PtX project in Greenland

1/4/2023

Press Release - H2Carrier

H2Carrier AS and the Greenland based company Anori A/S have signed a Letter of Intent (LOI) with the purpose of developing the first commercial wind farm in Greenland with subsequent production and export of green ammonia. The wind farm is projected to comprise 1.5GW renewable energy which will supply power to H2Carrier’s floating production vessel for hydrogen and green ammonia, the so-called P2XFloater™. Green ammonia will be stored in tanks onboard the vessel, then exported to smaller shipping vessels and carried to the international market for ammonia. This large project will enable Greenland to play a key role within global decarbonisation.

H2Carrier has developed a proprietary design for a vessel which will produce, store and export green ammonia, the P2XFloater™. This design has been developed in a close co-operation with leading engineering firms in Norway. As far as H2Carrier is aware, the P2XFloater™is the first of its kind to be launched on a global basis capable of producing hydrogen and ammonia on an industrial scale. The P2XFloater™ is based on well proven technologies from floating production of oil and gas (FPSOs- floating production, storage and offloading) in combination with control systems which optimise renewable power, electrolysers and the Haber-Bosch-process for production of ammonia. H2Carrier will build, own/lease and operate a fleet of P2XFloaters™ on PtX projects globally.

CEO Mårten Lunde in H2Carrier, states as follows:

"All industrial use of ammonia at present is associated with significant emissions of CO2. By building on established and proven technologies with a strong safety track record from oil and gas we have developed zero carbon solutions for ammonia which is a key ingredient in agriculture and the food industry. Greenland is uniquely positioned to take a leading role internationally for supply of green ammonia and locally, a significant industrial project of this magnitude will be important to the Greenland society by way of employment opportunities and positive economic impact. We are proud to co-operate on this project with Anori which express and reflects values and attitudes that we are confident will be valued by the society in Greenland."

"At present, less than 1% of the global ammonia consumption globally is produced from renewable energy. We need to turn this around to come closer to 100% as soon as possible in order to reach the targets of the Paris agreement" says Nicolai Fossar Fabritius, the Chairman of Anori, who prior to co-founding the company worked several years as a director of the Danish wind turbine manufacturer Vestas.

The CEO Palle Christiansen in Anori stated as follows: «We are proud to co-operate with H2Carrier and we all feel humble when embarking on this significant project which has a huge export potential for Greenland» and adds that «Greenland is well positioned to realize such a project. We have space and such a project will not prevent other activities or projects. Greenland as attractive wind resources and ample access to clean water. Clients are based internationally and Greenland will benefit from new employment and export revenues. This is a win/win project- from the climate to the treasury!”

Finally, Mr. Lunde in H2Carrier concludes as follows «The innovative P2XFloater™ design represents a cost and time efficient and flexible solution for production of green ammonia in an industrial scale at a competitive price. The demand for green ammonia is rapidly increasing due to the industrial decarbonisation. This is an attractive project at the right location at the right time.»