PLAGAZI AND BLU-POWER SIGNS LETTER OF INTENT FOR 2 000 TONS GREEN HYDROGEN OFFTAKE MARKING FURTHER COMMITMENT TOWARDS THE TRANSPORT SECTOR
Plagazi AB (publ) (“Plagazi” or the “Company”) has signed a letter of intent (“LOI”) together with Blu-Power GmbH (“Blu-Power”) with the intent to form a long-term offtake agreement of 2’000 tons of green hydrogen, produced in Plagazi’s and Neue Energien Premnitz’s German large-scale project “Havelstoff” located in Brandenburg. The estimated amount of hydrogen that Blu-Power will source covers almost half of the yearly production of one Plagazi HE-2000 unit and the parties have agreed upon a market-competitive price per kilogram of H2.
Blu-Power's aim is to create an infrastructure for fossil-free fuels for vehicles of tomorrow, efficiently, and with a negative ecological footprint. Blu-Power have identified green hydrogen as the gas of the future and will be used in their fueling stations. The Blu-Power conglomerate consists of three parts:
- Blu-Power Franchise
- Blu-Motor
- Blu-Energy
Blu-Power Franchise is building the world’s first renewable fuel franchise while Blu-Motor is focusing on developing and producing next-generation vehicles. The last part of the company is Blu-Energy which will cover the franchise’s innovative fueling stations.
“Project Havelstoff is moving from clarity to clarity and the proof of this is securing further off-take of Plagazi’s fuel cell grade green hydrogen planned to be produced in the project. Looking at the identified off-takers and their industry, in combination with large car manufacturers’ commitment to hydrogen-powered vehicles, it is clear to say that the implementation of hydrogen in the transport sector is developing faster pace than anticipated. “
- Torsten Granberg, CEO Plagazi AB (publ)
For further information, please contact:
Torsten Granberg, CEO, Plagazi AB (publ)
Email: torsten.granberg@plagazi.com
Phone: +46 70 676 12 34
About Plagazi AB (publ):
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:
Follow Plagazi on LinkedIn:
https://www.linkedin.com/company/plagazigreenhydrogrenfromwaste/
