Navigator Gas and Attis Clean Energy Invest In Ten08 Energy To Produce Clean Ammonia on the US Gulf Coast for Export
Navigator Holdings (NYSE: NVGS) has announced a co-investment with Attis Clean Energy in Ten08 Energy , a clean ammonia developer. The project aims to create an industrial-scale hybrid blue and green ammonia production export facility on the Gulf Coast of Texas. Navigator's initial $2.5 million commitment comes with an option to invest up to $100 million in preferred equity at Final Investment Decision (FID).
The first phase of the project is expected to produce 1.4 million metric tonnes per year of ultra-low carbon ammonia, with operations commencing in late 2029 or early 2030. Navigator and Ten08 plan to offer an integrated service of US-based clean ammonia production and international seaborne transportation to customers in Europe and Asia. This initiative supports the decarbonization of various industries, including power, shipping, fertilizer, and chemicals.
Navigator Holdings (NYSE: NVGS) ha annunciato un co-investimento con Attis Clean Energy in Ten08 Energy, uno sviluppatore di ammoniaca pulita. Il progetto mira a realizzare un impianto di produzione e esportazione di ammoniaca ibrida blu e verde su scala industriale nel Gulf Coast del Texas. L'impegno iniziale di Navigator di 2,5 milioni di dollari è accompagnato da un'opzione per investire fino a 100 milioni di dollari in capitale privilegiato alla Decisione Finale di Investimento (FID).
La prima fase del progetto dovrebbe produrre 1,4 milioni di tonnellate metriche all'anno di ammoniaca a bassissimo contenuto di carbonio, con l'inizio delle operazioni previsto per la fine del 2029 o l'inizio del 2030. Navigator e Ten08 intendono offrire un servizio integrato di produzione di ammoniaca pulita negli Stati Uniti e trasporto marittimo internazionale per i clienti in Europa e Asia. Questa iniziativa supporta la decarbonizzazione di vari settori, tra cui energia, navigazione, fertilizzanti e chimica.
Navigator Holdings (NYSE: NVGS) ha anunciado una co-inversión con Attis Clean Energy en Ten08 Energy, un desarrollador de amoníaco limpio. El proyecto tiene como objetivo crear una instalación de producción y exportación de amoníaco híbrido azul y verde a escala industrial en la costa del Golfo de Texas. El compromiso inicial de Navigator de 2.5 millones de dólares incluye la opción de invertir hasta 100 millones de dólares en capital preferente en la Decisión Final de Inversión (FID).
Se espera que la primera fase del proyecto produzca 1.4 millones de toneladas métricas al año de amoníaco con ultra-bajo contenido de carbono, con operaciones que comenzarán a finales de 2029 o principios de 2030. Navigator y Ten08 planean ofrecer un servicio integrado de producción de amoníaco limpio en EE. UU. y transporte marítimo internacional a clientes en Europa y Asia. Esta iniciativa apoya la descarbonización de diversas industrias, incluyendo la energía, el transporte marítimo, los fertilizantes y la química.
내비게이터 홀딩스(NYSE: NVGS)는 아티스 클린 에너지와 협력하여 클린 암모니아 개발업체인 테노8 에너지에 공동 투자한다고 발표했습니다. 이 프로젝트는 텍사스 만 해안에 산업 규모의 하이브리드 블루 및 그린 암모니아 생산 및 수출 시설을 구축하는 것을 목표로 합니다. 내비게이터의 초기 250만 달러 투자는 최종 투자 결정(FID) 시 최대 1억 달러의 우선주 투자 옵션과 함께 제공됩니다.
프로젝트의 첫 번째 단계에서는 연간 140만 미터톤의 초저탄소 암모니아를 생산할 것으로 예상되며, 운영은 2029년 말 또는 2030년 초에 시작될 예정입니다. 내비게이터와 테노8은 미국에서 클린 암모니아를 생산하고 유럽과 아시아의 고객에게 국제 해상 운송을 제공하는 통합 서비스를 계획하고 있습니다. 이 이니셔티브는 전력, 해운, 비료 및 화학 등 다양한 산업의 탈탄소화를 지원합니다.
Navigator Holdings (NYSE: NVGS) a annoncé un co-investissement avec Attis Clean Energy dans Ten08 Energy, un développeur d'ammoniaque propre. Le projet vise à créer une installation de production et d'exportation d'ammoniaque hybride bleue et verte à grande échelle sur la côte du Golfe du Texas. L'engagement initial de Navigator de 2,5 millions de dollars est assorti d'une option d'investir jusqu'à 100 millions de dollars en actions préférentielles à la Décision Finale d'Investissement (FID).
La première phase du projet devrait produire 1,4 million de tonnes métriques par an d'ammoniaque à ultra faible émissions de carbone, avec un démarrage des opérations prévu pour fin 2029 ou début 2030. Navigator et Ten08 prévoient d'offrir un service intégré de production d'ammoniaque propre basé aux États-Unis et de transport maritime international pour des clients en Europe et en Asie. Cette initiative soutient la décarbonisation de divers secteurs, y compris l'énergie, le transport maritime, les engrais et la chimie.
Navigator Holdings (NYSE: NVGS) hat eine Co-Investition mit Attis Clean Energy in Ten08 Energy, einem Entwickler für sauberes Ammoniak, angekündigt. Das Projekt zielt darauf ab, eine industrielle Anlage zur Produktion und zum Export von hybriden blauen und grünen Ammoniak im Golf von Texas zu schaffen. Das anfängliche Engagement von Navigator in Höhe von 2,5 Millionen Dollar beinhaltet die Option, bis zu 100 Millionen Dollar in Vorzugsaktien bei der endgültigen Investitionsentscheidung (FID) zu investieren.
Die erste Phase des Projekts wird voraussichtlich jährlich 1,4 Millionen metrische Tonnen ultraniedrigen Kohlenstoff-Ammoniaks produzieren, wobei die Betriebstätigkeit Ende 2029 oder Anfang 2030 beginnen soll. Navigator und Ten08 planen, einen integrierten Service für die saubere Ammoniakproduktion in den USA und den internationalen Seeverkehr zu Kunden in Europa und Asien anzubieten. Diese Initiative unterstützt die Dekarbonisierung verschiedener Branchen, einschließlich Energie, Schifffahrt, Düngemittel und Chemie.
- Co-investment in Ten08 Energy for clean ammonia production
- Option to invest up to $100 million in preferred equity at FID
- Potential for integrated service of production and transportation
- Supports decarbonization efforts in multiple industries
- Aligns with growing demand for clean ammonia in power and shipping sectors
- Long timeline for project completion (late 2029 / early 2030)
- Significant capital investment required for full project development
Insights
Navigator's investment in Ten08 Energy represents a strategic move into the clean ammonia sector, aligning with global decarbonization efforts. The project's 1.4 million metric tonnes per year capacity and expected 2029/2030 start date position it as a significant player in the emerging clean ammonia market.
The
However, investors should note the long timeline to operational start and potential for regulatory changes or technological shifts in clean energy solutions during this period. The success of this venture will largely depend on the cost-competitiveness of the produced ammonia and the rate of adoption in target industries.
Navigator's investment in Ten08 Energy is a forward-thinking move that positions the company at the forefront of the maritime energy transition. By integrating clean ammonia production with its existing fleet of gas carriers, Navigator is creating a vertically integrated supply chain that could offer significant competitive advantages.
The potential for ammonia to satisfy
However, the success of this strategy hinges on the widespread adoption of ammonia as a marine fuel, which will require significant infrastructure development and regulatory support. Investors should monitor progress in ammonia engine technology and international regulations on maritime emissions to gauge the potential return on this investment.
Navigator's investment in Ten08 Energy aligns with the global push for decarbonization in hard-to-abate sectors like shipping and power generation. The project's focus on producing both blue and green ammonia demonstrates a pragmatic approach to scaling up clean ammonia production, potentially accelerating the transition to low-carbon fuels.
The emphasis on achieving the most competitively priced ammonia molecule is important for widespread adoption. If successful, this could drive significant emissions reductions in multiple industries. However, the environmental credentials of blue ammonia (produced from natural gas with carbon capture) may face scrutiny compared to green ammonia (produced from renewable energy).
Investors should consider the evolving regulatory landscape, particularly in the EU, which may impact the market for different types of clean ammonia. The project's success will depend on its ability to meet increasingly stringent environmental standards while maintaining cost-competitiveness.
LONDON, Aug. 08, 2024 (GLOBE NEWSWIRE) -- Navigator Holdings Ltd. (“Navigator” or the “Company”) (NYSE: NVGS), the owner and operator of the world’s largest fleet of handysize liquefied gas carriers, is pleased to announce a co-investment alongside lead investor Attis Clean Energy (“Attis”) in the clean ammonia developer Ten08 Energy LLC (“Ten08” or “Project”), previously announced on May 15, 2024.
Ten08 is developing an industrial-scale hybrid blue and green ammonia production export facility on the Gulf Coast of Texas with the goal of producing the most competitively priced ammonia molecule to help decarbonize the power, shipping, fertilizer, and chemicals industries. The first phase, comprising 1.4 million metric tonnes per year of ultra-low carbon ammonia production, is expected to commence operations in late 2029 / early 2030.
The
Navigator and Ten08 intend to offer an integrated service of US-based clean ammonia production combined with international seaborne transportation of the ammonia on ammonia-powered gas carriers to Ten08’s customers in Europe and Asia.
Clean ammonia can be used to decarbonize the fertilizer and the chemical industries and is also a low-carbon fuel that can be used both for the power sector and for the shipping industry. In the power sector, the development of
Mads Peter Zacho, Chief Executive Officer, Navigator, stated:
“This investment is yet another example of our commitment to growth through energy infrastructure projects and meaningfully supports our existing ammonia shipping business. Clean ammonia is crucial to the success of the energy transition for both power generation and carbon free shipping, and the Ten08 project will play a critical role in further developing the clean ammonia industry. As a result of this investment, we look forward to strengthening our working relationships with numerous customers and partners around the world.”
Jean Perarnaud, Chief Executive Officer, Ten08, commented:
“We are pleased to welcome Navigator as a strategic investor in Ten08. Partnering with Navigator enables Ten08 to offer an integrated solution for delivering clean ammonia to our customers. Moreover, seaborne transportation of Ten08’s ammonia on ammonia-fueled gas carriers is an essential component of our vision of becoming industry leaders on low well-to-wake carbon intensity.”
About Navigator Gas
Navigator Holdings Ltd. (described herein as “Navigator Gas” or the “Company”) is the owner and operator of the world’s largest fleet of handysize liquefied gas carriers and a global leader in the seaborne transportation services of petrochemical gases, such as ethylene and ethane, liquefied petroleum gas (“LPG”) and ammonia and owns a
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Investor Relations / Media Advisors
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About Attis
Attis provides development capital to large-scale clean fuel projects. In addition to its investment in Ten08, certain of the Attis principals have investments in Lake Charles Methanol, a 3.6 million metric tonne clean hydrogen-to-methanol project in Louisiana, and Western LNG, a 12 million metric tonne LNG project on the West coast of Canada.
More information: www.attiscleanenergy.com
About Ten08
Ten08 is developing an ultra-low-carbon blue ammonia and zero-carbon green ammonia project located on the Texas Gulf Coast. Ten08 has the goal of producing and delivering the most competitively priced clean ammonia to help decarbonize the fertilizer, power and shipping industries. Ten08’s first train will be capable of producing 1.4 million metric tonnes of clean ammonia per year and its site could host up to 6 million metric tonnes of production capacity.
| More information: | www.ten08.energy | |
| Contact: | media@ten08.energy | |
Category: General
FAQ
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