PLAGAZI AB (PUBL) AND INLANDSBANAN AB SIGNS LETTER OF INTENT FOR DEVELOPMENT OF LOCALLY PRODUCED GREEN HYDROGEN
Plagazi AB (publ) (“Plagazi” or the “Company”) has signed a letter of intent ("LOI") together with Inlandsbanan AB (“IBAB”) with the aim of cooperating on the production and distribution of green hydrogen based on the extraction of hydrogen from non-recyclable waste.
Inlandsbanan is a 1000 km long railway that stretches from Gällivare to Mora owned by the Swedish state and was built as a transport link to and from Sweden's most commodity-rich regions with the aim of increasing opportunities for exploitation in northern Sweden. Inlandsbanan is managed by IBAB as infrastructure manager, which also has the right of use for Inlandsbanan. IBAB's intention is to carry out a refurbishment of the Inlandsbanan railway within five years with a view to increasing the capacity of the track. The refurbishment includes a transition to hydrogen-powered freight and passenger traffic on the track with a potential hydrogen need of about 20,000 tonnes per year.
The parties have identified a common interest in developing the transport capacity of the rail network and ensuring the supply of green hydrogen in Sweden. The parties, therefore, wish to initiate cooperation on the use of the Inlandsbanan line linked to Plagazi’s development plans and have to this end concluded this LOI.
"We see an exciting technology and process developed by Plagazi that can contribute to the production of competitive green hydrogen and the development of the local business community linked to the development of Inlandsbanan. Utilizing non-recyclable waste and creating a circular economy is fully in line with our goal to significantly increase passenger and freight traffic on Inlandsbanan" - Peter Enå, Development Manager IBAB
“Together with Inlandsbanan, there is a potential to not only transport and supply Inlandsbanan with locally produced green hydrogen, we are also creating the backbone of Sweden’s green hydrogen infrastructure and ultimately setting the pace for the transition. To be able to develop the Swedish green hydrogen market in any way is a great opportunity for Plagazi and the future goal to become one of the leaders in the sector.” - Torsten Granberg, CEO Plagazi AB (publ)
For further information, please contact:
Torsten Granberg, CEO, Plagazi AB
Email: torsten.granberg@plagazi.com
Phone: +46 70 676 12 34
About Plagazi:
Plagazi AB is a Swedish clean-tech company which is revolutionizing the production of green hydrogen. Plagazi helps society close the circular loop by transforming waste into green hydrogen through plasma gasification, contributing to resolve the significant global issue of non-recyclable waste, renewable energy sources and carbon emissions. With multiple active projects across Europe, the company aims to become the answer to the continents strive to reach its climate goals.
More Information:
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https://www.linkedin.com/company/plagazigreenhydrogrenfromwaste/
