Chariot Ltd. (OIGLF)

[douginil]

Chariot

April 6, 2022

[[ Thanks to Malcy's Blog ]]

https://www.malcysblog.com/2022/04/flash-blog-wentworth-chariot-igas-eco-atlantic/

Further to the Company’s announcement on 27 September 2021, relating to the green hydrogen project in Mauritania, Chariot, the Africa focused transitional energy company, is pleased to announce that it has signed a Memorandum of Understanding with the Port of Rotterdam International, a global energy hub and Europe’s largest seaport which handles a significant portion of Europe’s total energy demand.

The MoU represents a first step towards establishing supply chains to import green hydrogen and ammonia to meet expected demand in the Netherlands and other countries in Northwest Europe. The two parties will work together to connect with off-takers and secure contracts for specific volumes.

René van der Plas, Director of Port of Rotterdam International, stated:

“We are excited to be teaming up with Chariot, to help with the distribution element of their green hydrogen project in Mauritania. The project could turn Mauritania into a leading supplier of green hydrogen to Europe, making it one of the largest energy projects of its kind in the world.”

Benoit Garrivier, Chariot Transitional Power CEO, commented:

“This MoU is a considerable step forward for us on our green hydrogen project and we are delighted to be working with the Port of Rotterdam, as they look to continue to cement their position as one of the leading energy hubs in Europe. Our green hydrogen project in Mauritania has the potential to establish the country as one of the cheapest producers of green hydrogen. Our ambition is to help the nation become one of the world’s main producers and exporters of green hydrogen. We look forward to announcing further developments with this project in due course.”

Nothing more to add here save that Chariot are motoring ahead with their green hydrogen projects and I expect much more of the same to come. Even at 21.55p as this morning the upside is really substantial.