AmmPower Corp. Announces Letter of Intent to Develop Ammonia Production Facility at the Port of South Louisiana.

Rhea-AI Summary

AmmPower Corp. has signed a Letter of Intent to establish a green hydrogen/ammonia production facility at the Port of South Louisiana, one of the largest energy transfer ports in the U.S. The facility aims to produce up to 4,000 tonnes of green ammonia daily for carbon-free shipping and energy distribution. The project is expected to service over 4,500 oceangoing vessels annually. CEO Gary Benninger views this partnership as validation of AmmPower's vision for green ammonia in the shipping industry, enhancing the port's capabilities for green energy.

Positive

• Signing of LOI for a green hydrogen/ammonia facility at the Port of South Louisiana.
• Potential to produce 4,000 tonnes of green ammonia daily.
• Facility will cater to over 4,500 oceangoing vessels each year.
• Enhancement of POSL's infrastructure for green energy solutions.

Negative

• None.

AmmPower to work with Port of South Louisiana to develop a green hydrogen/ammonia production facility for shipping fuel & energy transfer

Port of South Louisiana is one of the largest Energy Transfer Ports in the United States

VANCOUVER, British Columbia, Jan. 31, 2022 (GLOBE NEWSWIRE) -- AmmPower Corp. (CSE: AMMP) (OTCQB: AMMPF) (FSE: 601A) (the “Company” or “AmmPower”) is pleased to announce that it has signed a Letter of Intent (“LOI”) to develop a green hydrogen/ammonia facility at the Port of South Louisiana (“POSL”). Port of South Louisiana is one of the largest tonnage ports in the Western Hemisphere, servicing over $57 Billion in Exports, and $18 Billion in imports every year. Stretching 54 miles along the Mississippi River, POSL is a vital port to the United States, and as of 2019, ranked first in total domestic trade and second in total foreign trade.

AmmPower will build a large green hydrogen and ammonia facility, to produce, store and distribute green ammonia for use as a carbon free fuel and a carrier of hydrogen energy. The facility, based upon future feasibility studies, could produce up to 4,000 tonnes of green ammonia per day, would service the fueling of oceangoing vessels (over 4,500/year) at the POSL, and also provide hydrogen rich, green ammonia for use domestically and for export. Ammonia is not only the ideal fuel for carbon free shipping but is also the best carrier to move green hydrogen short and long distances. At the point of use, hydrogen can be released from the ammonia using a process known as ‘cracking.’ AmmPower possess an expert team, led by Dr. Zhenyu Zhang that are global experts in cracking methodologies.

This project, led by Maarten Mobach, President, AmmPower Maritime and long-time industry veteran, will be one of the first renewable energy project of this scale, at one of the largest working ports in the world. Mr. Mobach, states, “Having been involved in a number of large port construction and infrastructure projects over the past 40 years, I can truly say this is a remarkable moment. The pivotal shift to green energy is an important one, and I am very excited to be working with the Port of South Louisiana. We hope this will be the first of many AmmPower projects in the maritime industry that will help transition towards green energy.”

Gary Benninger, CEO of AmmPower, states, “This is truly an incredible step for AmmPower. We have known since the inception of this company that green ammonia was the future of the shipping industry & green energy movement. Striking such a formative deal with one of the largest ports in the world is validation of that vision. We could not be more fortunate to work with the incredible people at Port of South Louisiana, one of the largest tonnage ports in the western hemisphere. This initiative allows the Port of South Louisiana, being the largest energy transfer port in the United States, to move towards green hydrogen and ammonia in a robust manner. Indeed, POSL is not only one of the largest ports in the world, but will now have the infrastructure to support any oceangoing vessels that require green ammonia for fuel. AmmPower looks forward to working closely with the Port of South Louisiana to help become industry leaders in the transition to green energy within the maritime industry.”

Special Section of Website for POSL

Given the magnitude of this project, and its direct impact on shareholders, AmmPower will create a separate section of its website called “Projects”, in the coming weeks, which will feature a selection of our endeavors amongst them Port of South Louisiana.

On Behalf of the Board of Directors
Gary Benninger
Chief Executive Officer

About AmmPower

AmmPower is a resource exploration company with an increasing focus on clean energy. The Company is based in Toronto, Ontario, with a research and manufacturing facility in Southeast Michigan. The company owns the Whabouchi South lithium exploration property located in the James Bay/Eeyou Istchee region of Quebec and holds an option over the Titan Property located in the Klotz Lake area in Northwestern Ontario. In addition, together with its partner, ORF Technologies Inc., based in Toronto, Canada, the Company is working on the development of a proprietary solution to produce green ammonia and green hydrogen, and is also investigating revolutionary catalyst methods to react Nitrogen and Hydrogen together with the aim of creating 100% clean, and cost effective green, turquoise, and blue ammonia.

For More Information please visit:

www.ammpower.com
5 Hazelton Avenue Suite 400, Toronto, Ontario M5R 2E1

About Port of South Louisiana

The Port of South Louisiana is one of the largest ports by tonnage in the Western Hemisphere, hosting over 3,600 oceangoing vessels every year, amounting to over 130M [US short tons] of cargo (15% of Total U.S. Exports, respectively). Port of South Louisiana (“POSL”) is “the premier sea gateway for U.S. export and import traffic…” that occupies over 50 miles of the Mississippi River, #4 Foreign Trade Zone (FTZ #124) in America, and a key port of entry and exit to the United States.

POSL is strategically located, and houses over 40 liquid and bulk terminals and serves as the #2 energy transfer port in the U.S., currently housing four major oil & seven crude oil storage terminals. POSL does over $57 Billion worth of exports, and over $18 Billion worth of imports every year.

For more information, please visit:

1-855-SLA-PORT
(985)-652-9278
https://portsl.com
155 West 10^th Street P.O. Box AE
Reserve, Louisiana, 70084

Investor Relations
604-398-3379
invest@ammpower.com

Forward-Looking Statements

This news release includes forward-looking statements that are subject to risks and uncertainties, including with respect to the expected timing of its name and ticker symbol changes. All statements within, other than statements of historical fact, are to be considered forward-looking. The Company provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections, or conclusions will not prove to be accurate, that assumptions may not be correct, and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited those identified and reported in the Company’s public filings under the Company’s SEDAR profile at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events, or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.

The Canadian Securities Exchange (CSE) has not reviewed, approved, or disapproved the contents of this press release.

FAQ

What facility is AmmPower developing at the Port of South Louisiana?

AmmPower is developing a green hydrogen/ammonia production facility aimed at producing up to 4,000 tonnes of green ammonia daily.

How will the green ammonia facility impact the shipping industry?

The facility will enable carbon-free shipping by providing green ammonia as fuel for over 4,500 oceangoing vessels annually.

What is the significance of the Port of South Louisiana in this project?

The Port of South Louisiana is one of the largest energy transfer ports in the U.S., handling significant export and import traffic, making it an ideal location for this green energy project.

What are AmmPower's future plans for the project?

AmmPower plans to create a dedicated section on their website to highlight this project and its impact on shareholders.