Update on Green Hydrogen Production Facility

RNS Number : 4229E

Oracle Power PLC

11 March 2022

 

11 March 2022

Oracle Power PLC

("Oracle", the "Company" or the "Group")

Update on Green Hydrogen Production Facility

Oracle Power PLC (AIM:ORCP), the international natural resources project developer, is pleased to announce the appointment of H&P Advisory Limited, part of the Hannam & Partners group, ("H&P") as financial adviser and consultant to Oracle in relation to the Company's potential green hydrogen project in Pakistan (the "Project").

H&P will focus exclusively on the Project, providing strategic advisory and financial services to realise its full potential  for the benefit of Oracle stakeholders, including the  preparation of a valuation model.  H&P's work will be integrated into the various workstreams which are underway between Oracle and various other partners including buyers, technology suppliers, lenders and other interested parties.

Naheed Memon, CEO of Oracle, commented:

"Our green hydrogen production project is entering its next phase of planning and development and I am delighted to announce the appointment of H&P who will support us on this journey.  H&P are a highly regarded investment bank with a proven track record in the resources and energy industries, and furthermore, they possess an exceptional network of international contacts through which to commercialise our green hydrogen project.

"Green energy is at the forefront of governmental decision making and is part of the global conversation more than ever before.  Harnessing this emerging green fuel source will support the global transition towards a carbon free future and also enable countries with significant renewable energy potential, such as Pakistan, to become competitive suppliers.  I look forward to providing further updates on this globally significant project in due course."

*ENDS*

For further information:

Oracle Power PLC Naheed Memon - CEO	[phone]
H&P Advisory Limited Neil Passmore St Brides Partners Limited (Financial PR) Susie Geliher, Catherine Leftley	[phone] [phone]

About Oracle Power PLC:

Oracle Power PLC is an international natural resource and power project developer quoted on London's AIM market.  The Company holds two highly prospective gold assets in two globally significant gold regions of Western Australia.  The Northern Zone Project is located 25km east of the major gold mining centre of Kalgoorlie, the home of the 'Super Pit' mine, the second largest gold mine in Australia, and the Jundee East Gold Project is located ~9km east of Northern Star's Jundee Gold Mine, one of Australia's largest gold mines.

The Company is also active in the power industry in Pakistan and is working to establish a green hydrogen production facility in association with PowerChina.  The Company's initial project is the Thar Block VI Project in south-east Pakistan where the Company is advancing plans for a combined lignite coal mine, a 1,320MW mine mouth power plant and a proposed coal gasification to urea project.

 

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