European Energy enters 50-year land lease agreement with Port of Victoria in Texas

European Energy has entered into a 50-year lease agreement with Victoria County Navigation District (Port of Victoria) in Texas in the Port’s North Industrial Park.

European Energy will develop a e-methanol facility at the site, which can produce around 100,000 tons a year e-methanol. The process involves using renewable solar and wind energy to split water (H2O) into green hydrogen and oxygen. This green hydrogen, along with biogenic carbon dioxide (CO2), would be synthesized on-site to produce e-methanol.

The Power-to-X project at will at Final Investment Decision (FID) commit to an investment of hundreds of millions in Port infrastructure, generating more than 200 jobs during construction and 60 ongoing, local jobs.

European Energy is currently on the verge of completing the world’s largest e-methanol facility at the Kassø facility in Denmark of 32,000 tons/year e-methanol. A list of companies including A.P. Moller Maersk, Novo Nordisk and the LEGO Group has already signed up to be off-takers of the e-methanol. This versatile substance finds applications in the shipping industry as fuel, as a raw material for sustainable green plastics and blended in heavy transport, while significantly contributing to the energy transition by replacing and displacing fossil fuels.

Lorena Ciciriello, CEO of EE North America, expresses optimism about the potential venture, sharing, “At EE North America, we’re not just navigating the green energy transition; we’re steering it. The Port of Victoria’s vast international waterways, cutting-edge rail infrastructure, and its pivotal central location align seamlessly with our commitment to lead in the global green energy transition. It’s not just a location; it’s a dynamic space where our project can truly catalyze a significant impact on the world’s green energy landscape. This agreement not only marks a milestone for us but helps validate that we’re not just bringing tomorrow’s energy; we’re bringing it today. We’re eager for more discussions with the Port of Victoria, fueled by the prospect of not just creating jobs but cultivating a cleaner, brighter energy future for the region.”

Jaime Casasus-Bribian, European Energy’s Director of PtX Projects for the Americas, Australia &Iberia, emphasizes the importance of trusted partnerships and community impact. “At European Energy, we understand that having trusted, strategic partnerships is the way to build lasting relationships that benefit the entire community. The Port of Victoria project is an opportunity to extend the positive impact of our innovative technology that’s already transforming energy landscapes in Denmark. We are excited about the prospect of bringing this cutting-edge technology to the Port of Victoria and the surrounding community. Our commitment extends beyond infrastructure and projects; it’s about creating a sustainable legacy that addresses the increasing demand for e-methanol, enhances the local environment, and fosters economic growth.”

Sean Stibich, Executive Director at the Port, applauds the ongoing infrastructure enhancements and community collaboration, noting, “The green energy revolution is gaining momentum at the Port, and our dedicated local leadership, along with community support, has ensured we have the necessary infrastructure in place. We are thrilled about the prospect of partnering with European Energy, a global leader in the green industry, and are committed to welcoming sustainable jobs and renewable industry through this project.”

Contact

Ming Ou Lü

PR Manager

miol@europeanenergy.com

+45 3126 9376

Jim Blakeslee

PR Consultant

jbl@europeanenergy.com

+1 832 689 3527