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Masdar and VERBUND to Explore Developing Large-Scale Green Hydrogen Production in Spain
- Masdar, the UAE’s flagship renewable energy company, and VERBUND Green Hydrogen GmbH, part of VERBUND group, Austria’s leading energy company, sign agreement at COP28 to explore feasibility of large-scale electrolysis in central Spain.
- Agreement creates a 50:50 partnership for a joint study to explore the development of green hydrogen, while consolidating Masdar’s and VERBUND’s strong commitment in Spain and Europe
- Potential green hydrogen produced could be used to decarbonize hard-to-abate industries in Spain and central Europe to meet net-zero goals.
DUBAI, UAE, Dec. 7, 2023 /PRNewswire/ — COP28, Expo City Dubai; Abu Dhabi Future Energy Company PJSC – Masdar, one of the world’s leading renewable energy companies, and VERBUND Green Hydrogen GmbH have signed a deal to explore developing a green hydrogen plant in central Spain with a view to decarbonizing Europe’s hard-to-abate sectors.
As world leaders negotiate at the UN’s Climate Change Conference COP28 in the UAE, clean energy pioneers Masdar and VERBUND Green Hydrogen GmbH moved forward with plans to analyze the feasibility of building one of Europe’s largest green hydrogen production plants in central Spain. Harnessing the abundant renewable resources of Castilla-La Mancha region, the prospective plant will aim to generate green hydrogen to cover industrial demand in Spain and central Europe. The study will evaluate if green hydrogen produced at the plant has the potential to displace up to 1 million tonnes of carbon emissions annually, equivalent of removing around 700,000 cars from the road every year.
The agreement was signed by Mohammad Abdelqader El Ramahi, Masdar’s Chief Green Hydrogen Officer and Hamead Ahrary, Managing Director of VERBUND Green Hydrogen GmbH during COP28 in Expo City Dubai. It cements an earlier pact, signed between the companies during Abu Dhabi Sustainability Week in January 2023, to explore green hydrogen opportunities to cover European demand.
Green hydrogen is produced using electricity from renewable sources whereby the water is separated into oxygen and hydrogen, via the process of electrolysis. It is intended that the explored plant will produce green hydrogen using renewable energy generated by solar power plants, potentially including Masdar’s planned gigawatt-scale solar plant in Castilla-La Mancha, and onshore wind farms. The project is expected to stimulate job creation and boost green industry in the sparsely populated area.
Mohammad Abdelqader El Ramahi, Masdar’s Chief Green Hydrogen Officer, said: “Masdar is delighted to be moving forward on this milestone project with our strategic partner, VERBUND Green Hydrogen GmbH. As one of Europe’s largest planned green hydrogen production plants, the project aims to produce green hydrogen to help decarbonize the continent’s hard-to-abate industries while creating jobs and tapping into the region’s enormous solar and wind potential. Our successful collaboration on this project paves the way for further development of green hydrogen and a vital pipeline linking centers of production with end-use markets. At COP28, as the world looks for ways to accelerate the journey to net zero, partnerships such as this serve as a powerful example of what can be achieved if we work together with purpose and at pace.”
There is huge growth potential for green hydrogen in Europe. Spain currently consumes around 500,000 tonnes of mainly traditional fuel derived ‘gray’ hydrogen per year, which could be gradually replaced with green hydrogen. By 2035, Austria alone is expected to require around 600,000 tonnes per year of clean hydrogen.
Michael Strugl, Chief Executive Officer of VERBUND, emphasized the innovation and technology leadership in the ramp-up of the hydrogen economy in Europe with this project: “We are very pleased that, within our cooperation with Masdar we can take the next step in the form of a Joint Study Agreement (JSA). The goal is to identify the subsequent way forward towards large-scale hydrogen production in Spain. Partnerships like this are essential to jointly ramp up the European hydrogen market to meet decarbonization goals.”
Hamead Ahrary, Managing Director of VERBUND Green Hydrogen GmbH added: “The Spanish market plays a vital role for us, both for the development of local H2 production, as well as for future potential import to central Europe. The joint study will generate valuable insights for the feasibility and execution of a potential project, which would result in the further strengthened positioning of VERBUND in the Spanish market. Hence, we are looking forward to the results of this study.”
The planned green hydrogen produced is expected to be used to decarbonize Spain or Europe’s hard-to-abate sectors, which could include steel production, fertilizers, chemicals, heavy transportation, and aviation. Currently, steelmaking alone is responsible for 5 percent of European carbon emissions. With most European Union nations pledging to become carbon neutral by 2050, green hydrogen presents a powerful vehicle for achieving that aim.
Expected to be operational by the end of the decade, the planned green hydrogen plant will serve the industrial sector and has the potential to help decarbonize heavy transportation in Spain as well as in central Europe.
About Masdar
Abu Dhabi Future Energy Company (Masdar) is the UAE’s clean energy champion and one of the fastest growing companies in the world, advancing the development and deployment of renewable energy and green hydrogen technologies to address global sustainability challenges. Established in 2006, Masdar has developed projects in over 40 countries, helping them to achieve their clean energy objectives and advance sustainable development. Masdar is jointly owned by Abu Dhabi National Oil Company (ADNOC), Mubadala Investment Company (Mubadala), and Abu Dhabi National Energy Company (TAQA), and under this ownership the company is targeting a renewable energy portfolio capacity of at least 100 gigawatts (GW) by 2030 and an annual green hydrogen production capacity of up to 1 million tonnes by the same year.
For more information please visit: http://www.masdar.ae and connect: facebook.com/masdar.ae and twitter.com/masdar
About VERBUND
VERBUND Green Hydrogen GmbH is part of VERBUND group which is Austria’s leading energy company and one of the largest producers of electricity from hydropower in Europe. VERBUND group generates around 95 percent of its electricity from renewable sources, primarily hydropower. The group trades in electricity in 12 countries and, in 2022, achieved a consolidated result of around €1,700 million and EBITDA of around €3,160 million with around 3,500 employees. With subsidiaries and partners, VERBUND is active in everything from electricity generation and transport to international trading and sales. VERBUND has been listed on the Vienna Stock Exchange since 1988, 51% of the share capital is owned by the Republic of Austria.
VERBUND is the decisive player for the success of the energy turnaround in Austria. The challenges that lie ahead require a cohesive orientation of the entire company, which VERBUND is driving forward with Mission V. Mission V is a long-term and comprehensive transformation program and stands for the will to confront the climate crisis as a force for change. This program is based on the VERBUND Strategy 2030 with its three thrusts: Strengthening the integrated home market, expanding renewable energies in Europe and establishing itself as a European hydrogen player. With Mission V, VERBUND is accelerating the achievement of its strategic goals 2030 and ensuring their implementation.
More information:
For more information please visit: http://www.verbund.com and connect: VERBUND AG: Übersicht | LinkedIn
This material is distributed by Daniel J. Edelman, Inc. on behalf of Masdar. Additional information is available at the Department of Justice, Washington, DC.
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STOCKHOLM, April 5, 2024 /PRNewswire/ — EQT AB’s Q1 Announcement 2024 will be published on Thursday 18 April 2024 at approximately 07:30 CEST. EQT will host a conference call at 08:30 CEST to present the report, followed by a Q&A session.
The presentation and a video link for the webcast will be available here from the time of the publication of the Q1 Announcement.
To participate by phone and ask questions during the Q&A, please register here in advance. Upon registration, you will receive your personal dial-in details.
The webcast can be followed live here and a recording will be available afterwards.
Information on EQT AB’s financial reporting
The EQT AB Group has a long-term business model founded on a promise to its fund investors to invest capital, drive value creation and create consistent attractive returns over a 5 to 10-year horizon. The Group’s financial model is primarily affected by the size of its fee-generating assets under management, the performance of the EQT funds and its ability to recruit and retain top talent.
The Group operates in a market driven by long-term trends and thus believes quarterly financial statements are less relevant for investors. However, in order to provide the market with relevant and suitable information about the Group’s development, EQT publishes quarterly announcements with key operating numbers that are relevant for the business performance (taking Nasdaq’s guidance note for preparing interim management statements into consideration). In addition, a half-year report and a year-end report including financial statements and further information relevant for investors is published. Finally, EQT also publishes an annual report including sustainability reporting.
Contact
Olof Svensson, Head of Shareholder Relations, +46 72 989 09 15
EQT Shareholder Relations, [email protected]
Rickard Buch, Head of Corporate Communications, +46 72 989 09 11
EQT Press Office, [email protected], +46 8 506 55 334
This information was brought to you by Cision http://news.cision.com
https://news.cision.com/eqt/r/invitation-to-presentation-of-eqt-ab-s-q1-announcement-2024,c3956826
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Invitation to presentation of EQT AB’s Q1 Announcement 2024 |
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- Kia drives forward transformation into ‘Sustainable Mobility Solutions Provider’
- Roadmap enables Kia to proactively respond to uncertainties in mobility industry landscape, including changes in EV market
- Company to expand EV line-up with more models; enhance HEV line-up to manage fluctuation in EV demand
- Goal to sell 1.6 million EVs annually in 2030, introducing 15 models
- PBV to play a key role in Kia’s growth, targeting 250,000 PBV sales annually by 2030 with PV5 and PV7 models
- Kia to invest KRW 38 trillion by 2028, including KRW 15 trillion for future business
- 2024 business guidance : KRW 101 tln in revenue with KRW 12 tln in operating profit; operating profit margin of 11.9% on sales of 3.2 million units globally
- CEO reaffirms Kia’s commitment to ESG management
SEOUL, South Korea, April 5, 2024 /PRNewswire/ — Kia Corporation (Kia) today shared an update on its future strategies and financial targets at its CEO Investor Day in Seoul, Korea.
Based on its innovative achievements in the years since the announcement of mid-to-long-term business initiatives, Kia is focusing on updating its 2030 strategy announced last year and further strengthening its business strategy in response to uncertainties across the global mobility industry landscape.
During the event, Kia updated its mid-to-long-term business strategy with a focus on electrification, and its PBV business. Kia reiterated its 2030 annual sales target of 4.3 million units, including 1.6 million units of electric vehicles (EVs). The 2030 4.3 million annual sales target is 34.4 percent higher than the brand’s 2024 annual goal of 3.2 million units.
The company also plans to become a leading EV brand by selling a higher percentage of electrified models among its total sales, including hybrid electric vehicles (HEV), plug-in hybrid (PHEV), and battery EVs, projecting electrified model sales of 2.48 million units annually or 58 percent of Kia’s total sales in 2030.
“Following our successful brand relaunch in 2021, Kia is enhancing its global business strategy to further the establishment of an innovative EV line-up and accelerate the company’s transition to a sustainable mobility solutions provider,” said Ho Sung Song, President and CEO of Kia. “By responding effectively to changes in the mobility market and efficiently implementing mid-to-long-term strategies, Kia is strengthening its brand commitment to the wellbeing of customers, communities, the global society, and the environment.”
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VANCOUVER, BC, April 4, 2024 /PRNewswire/ — BioVaxys Technology Corp. (CSE: BIOV) (FRA: 5LB) (OTCQB: BVAXF) (the “Company“) is providing this bi-weekly update on the status of the management cease trade order granted on February 29, 2024 (the “MCTO“), by its principal regulator, the Ontario Securities Commission (the “OSC“), under National Policy 12-203 – Management Cease Trade Orders (“NP 12-203“), following the Company’s announcement on February 21, 2024 (the “Default Announcement“), that it was unable to file its audited annual financial statements for the year ended October 31, 2023, its management’s discussion and analysis of financial statements for the year ended October 31, 2023, its annual information form for the year ended October 31, 2023, and related filings (collectively, the “Required Annual Filings“). Under National Instrument 51-102, the Required Annual Filings were required to be made no later than February 28, 2024.
As a result of the delay in filing the Required Annual Filings, the Company was unable to file its interim financial statements for the three months ended January 31, 2024, its management’s discussion and analysis of financial statements for the three months ended January 31, 2024, and related filings (collectively, the “Required Interim Filings“). Under National Instrument 51-102, the Required Interim Filings were required to be made no later than April 1, 2024.
The Company anticipates filing the Required Annual Filings by April 30, 2024. The auditor of the Company requires additional time to complete its audit of the Company, including the Company’s recent acquisition of all intellectual property, immunotherapeutics platform technologies, and clinical stage assets of the former IMV Inc. that closed on February 16, 2024. In addition, the Company anticipates filing the Required Interim Filings immediately after the filing of the Required Annual Filings.
Except as herein disclosed, there are no material changes to the information contained in the Default Announcement. In addition, (i) the Company is satisfying and confirms that it intends to continue to satisfy the provisions of the alternative information guidelines under NP 12-203 and issue bi-weekly default status reports for so long as the delay in filing the Required Annual Filings and/or Required Interim Filings is continuing, each of which will be issued in the form of a press release; (ii) the Company does not have any information at this time regarding any anticipated specified default subsequent to the default in filing the Required Annual Filings and Required Interim Filings; (iii) the Company is not subject to any insolvency proceedings; and (iv) there is no material information concerning the affairs of the Company that has not been generally disclosed.
About BioVaxys Technology Corp.
BioVaxys Technology Corp. (www.biovaxys.com), a biopharmaceuticals company registered in British Columbia, Canada, is a clinical-stage biopharmaceutical company dedicated to improving patient lives with novel immunotherapies based on the DPX™ immune-educating technology platform and it’s HapTenix© ‘neoantigen’ tumor cell construct platform, for treating cancers, infectious disease, antigen desensitization, and other immunological fields. The Company’s clinical stage pipeline includes maveropepimut-S which is in Phase II clinical development for advanced Relapsed-Refractory Diffuse Large B Cell Lymphoma (DLBCL) and platinum resistant ovarian cancer, and BVX-0918, a personalized immunotherapeutic vaccine using it proprietary HapTenix© ‘neoantigen’ tumor cell construct platform which is soon to enter Phase I in Spain for treating refractive late-stage ovarian cancer. The Company is also capitalizing on its tumor immunology know-how and creation of a unique library of T-lymphocytes & other datasets post-vaccination with its personalized immunotherapeutic vaccines to utilize predictive algorithms and other technologies to identify new targetable tumor antigens. BioVaxys common shares are listed on the CSE under the stock symbol “BIOV” and trade on the Frankfurt Bourse (FRA: 5LB) and in the US (OTCQB: BVAXF). For more information, visit www.biovaxys.com and connect with us on X and LinkedIn.
ON BEHALF OF THE BOARD
Signed “James Passin“
James Passin, Chief Executive Officer
Phone: +1 646 452 7054
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