{"id":2425,"date":"2021-03-21T16:19:29","date_gmt":"2021-03-21T16:19:29","guid":{"rendered":"https:\/\/dev.pixflex.com\/eig2\/?p=2425"},"modified":"2021-04-07T16:23:08","modified_gmt":"2021-04-07T16:23:08","slug":"fortescue-and-eig-backed-companies-sign-mou-to-explore-joint-development-of-green-hydrogen-plant-in-brazil","status":"publish","type":"post","link":"https:\/\/dev.pixflex.com\/eig2\/fortescue-and-eig-backed-companies-sign-mou-to-explore-joint-development-of-green-hydrogen-plant-in-brazil\/","title":{"rendered":"Fortescue and EIG-Backed Companies Sign MOU to Explore Joint Development of Green Hydrogen Plant in Brazil"},"content":{"rendered":"<p class=\"rtejustify\" style=\"text-align: justify;\"><strong>WASHINGTON, D.C., and RIO DE JANEIRO \u2013\u00a0<\/strong>EIG, a leading institutional investor to the global energy sector, and Prumo Log\u00edstica S.A. (\u201cPrumo\u201d), a private Brazilian company controlled by EIG, today announced the signing of a Memorandum of Understanding (\u201cMoU\u201d) between Prumo\u2019s subsidiary, Porto do A\u00e7u Opera\u00e7\u00f5es S.A. (\u201cPort of A\u00e7u\u201d or the \u201cPort\u201d), and Fortescue Future Industries Pty Ltd (\u201cFFI\u201d). FFI is a wholly owned subsidiary of Fortescue Metals Group Ltd (\u201cFortescue\u201d).<\/p>\n<p class=\"rtejustify\" style=\"text-align: justify;\">Under the terms of the MoU, the parties will jointly conduct feasibility studies on installing a green hydrogen plant at the Port of A\u00e7u, Latin America\u2019s largest privately owned deep-water port-industrial complex, marking a major step toward developing a system capable of producing industrial-scale green hydrogen. The MoU also lays the groundwork for onsite solar power and offshore wind development projects in the states of Rio de Janeiro and Espirito Santo.<\/p>\n<p class=\"rtejustify\" style=\"text-align: justify;\">The proposed green hydrogen plant would have 300 megawatts of capacity with potential to produce 250,000 metric tons of green ammonia. The availability of green hydrogen and renewable power is expected to drive further sustainable industrialization at the Port, including production of green steel, fertilizers, chemicals, fuels, and other sustainably manufactured industrial products. If the project moves forward, it will accelerate the decarbonization of hard-to-abate sectors such as transportation, manufacturing, and heavy industry.\u00a0\u00a0<\/p>\n<p class=\"rtejustify\" style=\"text-align: justify;\">FFI Chief Executive Officer, Julie Shuttleworth, said, \u201cFFI is assessing renewable energy and green hydrogen opportunities globally and will lead and drive the green energy and product industry as we transition away from fossil fuels. I am excited to announce this MOU with Port of A\u00e7u. The opportunity to establish totally new and future large-scale industries will drive growth in the Brazilian economy. We expect the potential for new green industries at Port of A\u00e7u to substantially diversify, broaden and deepen Brazil\u2019s already skilled workforce\u201d.<\/p>\n<p class=\"rtejustify\" style=\"text-align: justify;\">Carlos Tadeu Fraga, CEO of Prumo, said, \u201cWe are thrilled to partner with FFI on this exciting project, which allows us to explore new opportunities in the growing green hydrogen space. \u00a0This partnership is the latest milestone in Prumo\u2019s mission to build a port complex that fosters economic and social progress by sustainably optimizing the development of Brazil\u2019s energy and infrastructure assets. \u00a0We are already well-positioned to achieve that mission, and this project would help us further realize these ambitions in Brazil and across the region.\u201d<\/p>\n<p class=\"rtejustify\" style=\"text-align: justify;\">R. Blair Thomas, CEO of EIG and Chairman of Prumo\u2019s Board of Directors, said, \u201cWe are pleased to welcome FFI as a partner in support of this potentially ground-breaking green energy project. We are realizing tremendous progress at the Port and believe that Prumo, with its roster of world-class partners and clients, is primed to be a leader in Latin America\u2019s energy transition.\u201d<\/p>\n<p class=\"rtejustify\" style=\"text-align: justify;\"><strong>Media Contacts<\/strong><\/p>\n<p class=\"rtejustify\" style=\"text-align: justify;\"><strong>Prumo:<\/strong><\/p>\n<p class=\"rtejustify\" style=\"text-align: justify;\">Vanessa Teixeira \u2013 General Manager, MarComm<\/p>\n<p class=\"rtejustify\" style=\"text-align: justify;\">E:\u00a0<a href=\"mailto:vanessa.teixeira@prumologistica.com.br\">vanessa.teixeira@prumologistica.com.br<\/a><\/p>\n<p class=\"rtejustify\" style=\"text-align: justify;\"><strong>EIG:<\/strong><\/p>\n<p class=\"rtejustify\" style=\"text-align: justify;\">Kelly Kimberly\/Brandon Messina, Sard Verbinnen &amp; Co.<\/p>\n<p class=\"rtejustify\" style=\"text-align: justify;\">E:\u00a0<a href=\"mailto:EIG-SVC@sardverb.com\">EIG-SVC@sardverb.com<\/a><\/p>\n<p class=\"rtejustify\" style=\"text-align: justify;\">T: +1 (212) 687-8080<\/p>\n<p class=\"rtejustify\" style=\"text-align: justify;\"><strong>About Port of A\u00e7u<\/strong><\/p>\n<p class=\"rtejustify\" style=\"text-align: justify;\">Port of A\u00e7u is the largest privately owned deep-water port-industrial complex in Latin America. In operation since 2014, Port of A\u00e7u is managed by Porto do A\u00e7u Opera\u00e7\u00f5es, a partnership between Prumo Log\u00edstica and the Port of Antwerp International, a subsidiary of the Antwerp Port Authority. Planned for the next five years, the port&#8217;s industrialization will be founded on, amongst others, sustainable projects and clean energy generation: chemicals, fuels, pelletizing, steel and other companies will be able to use green hydrogen as input to make their energy mix more sustainable.<\/p>\n<p class=\"rtejustify\" style=\"text-align: justify;\"><strong>About Prumo Log\u00edstica<\/strong><\/p>\n<p class=\"rtejustify\" style=\"text-align: justify;\">Prumo is the multi-business economic group responsible for the strategic development of the Port of A\u00e7u. We are controlled by EIG, a US-based fund focused on energy and infrastructure, and by Mubadala Investment Company, an active and innovative investor that allocates capital in a variety of segments. Through the Group\u2019s 6 companies (Porto do A\u00e7u Opera\u00e7\u00f5es, Ferroport, A\u00e7u Petr\u00f3leo, GNA, Dome and BP Prumo) and our clients and partners, the Port of A\u00e7u serves the oil &amp; gas, port logistics and mining segments. Its infrastructure has unique potential to support new businesses and several industrial niches. Guided by Prumo\u2019s strategic perspective, A\u00e7u is now one of the largest and most promising enterprises in Brazil. With operational safety and efficiency combined with the strength of the Group\u2019s long-term vision and the proximity to the main oil exploration basins, A\u00e7u is consolidating into the best solution for the most challenging demands.<\/p>\n<p class=\"rtejustify\" style=\"text-align: justify;\"><strong>About EIG<\/strong><\/p>\n<p class=\"rtejustify\" style=\"text-align: justify;\">EIG is a leading institutional investor to the global energy sector with $22.0 billion under management as of December 31, 2020. EIG specializes in private investments in energy and energy-related infrastructure on a global basis. During its 39-year history, EIG has committed over $34.9 billion to the energy sector through more than 365 projects or companies in 36 countries on six continents. EIG\u2019s clients include many of the leading pension plans, insurance companies, endowments, foundations and sovereign wealth funds in the U.S., Asia and Europe. EIG is headquartered in Washington, D.C. with offices in Houston, London, Sydney, Rio de Janeiro, Hong Kong and Seoul. For additional information, please visit EIG\u2019s website at\u00a0<a href=\"http:\/\/www.eigpartners.com\/\">www.eigpartners.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>WASHINGTON, D.C., and RIO DE JANEIRO \u2013\u00a0EIG, a leading institutional investor to the global energy sector, and Prumo Log\u00edstica S.A. (\u201cPrumo\u201d), a private Brazilian company controlled by EIG, today announced the signing of a Memorandum of Understanding (\u201cMoU\u201d) between Prumo\u2019s subsidiary, Porto do A\u00e7u Opera\u00e7\u00f5es S.A. (\u201cPort of A\u00e7u\u201d or the \u201cPort\u201d), and Fortescue Future [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2425","post","type-post","status-publish","format-standard","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Fortescue and EIG-Backed Companies Sign MOU to Explore Joint Development of Green Hydrogen Plant in Brazil - EIG Partners<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/dev.pixflex.com\/eig2\/fortescue-and-eig-backed-companies-sign-mou-to-explore-joint-development-of-green-hydrogen-plant-in-brazil\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fortescue and EIG-Backed Companies Sign MOU to Explore Joint Development of Green Hydrogen Plant in Brazil - EIG Partners\" \/>\n<meta property=\"og:description\" content=\"WASHINGTON, D.C., and RIO DE JANEIRO \u2013\u00a0EIG, a leading institutional investor to the global energy sector, and Prumo Log\u00edstica S.A. (\u201cPrumo\u201d), a private Brazilian company controlled by EIG, today announced the signing of a Memorandum of Understanding (\u201cMoU\u201d) between Prumo\u2019s subsidiary, Porto do A\u00e7u Opera\u00e7\u00f5es S.A. 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