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World Energy GH2 acquires the Port of Stephenville

World Energy GH2 acquires the Port of Stephenville
World Energy GH2 closes on Port of Stephenville acquisition (photo courtesy World Energy GH2).

In Canada, renewable energy company World Energy GH2 Inc. has announced that it has successfully closed the acquisition of the Port of Stephenville in Newfoundland and Labrador (NL). The port is a critical piece of infrastructure as World Energy GH2 works to advance green energy projects in Atlantic Canada.

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According to a statement, the acquisition of the port for an undisclosed amount is an important step toward the shipping of green hydrogen and green ammonia to global markets.

In order to fulfill the Canada – Germany Hydrogen Alliance, Project Nujio’qonik, Canada’s first commercial green hydrogen/ammonia producer, aims to produce green hydrogen in 2025.

Sean Leet, Managing Director and CEO of World Energy GH2, says the acquisition of the port is a key milestone for Project Nujio’qonik.

The Port of Stephenville is the cornerstone of our project and will position the Bay St. George area as a green energy hub. As a project and an industry, we are building serious momentum here. In just the last few weeks, several key pieces have come together, including the partnership agreement with SK ecoplant, marking the first overseas investment in a Canadian green hydrogen project. Now, we have acquired the Port of Stephenville, a key asset for the production and shipping of green hydrogen and green ammonia. These are important de-risking milestones in the development of our project – and in the launch of a new industry. We look forward to investing in, expanding, upgrading, and operating a world-class port for clean energy development here in Newfoundland and Labrador, Sean Leet said.

John Risley, Chairman of World Energy GH2, says the project will help make net zero a reality.

Project Nujio’qonik will be the first project in the country to produce hydrogen and ammonia from renewable wind energy at scale, so we can make good on Canada’s promise to Germany by 2025. Our port and our project will serve as a catalyst for other green hydrogen projects in Atlantic Canada and beyond. And it’s a project of which we will all be proud. But this isn’t just about our project or our region; this is about an entire industry, and Canada’s responsibility to manage a timely and effective energy transition that will create opportunities and prosperity for generations to come, John Risley said.

Acknowledging the “solid past stewardship of the port” by former port owners, Dale Merkel and Theresa Keeping, operating under Port Harmon Authority Ltd, World Energy GH2 plans to begin site preparation for the construction of the green hydrogen plant following environmental approvals and permitting.

Merkel and Keeping operated the port year-round as a sheltered, deep sea, and ice-free port.

Under contract with World Energy GH2, Horizon Maritime Services will assume management of the Port of Stephenville, and existing Port of Stephenville employees will continue to be employed in their current roles.

The Port of Stephenville will follow protocols from leading European ports to ensure robust international safety standards.

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