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LOI with TÜV SÜD on Green Hydrogen Certification
LOI with TÜV SÜD on Green Hydrogen Certification.
About this update from Oracle Power Plc
[{"type":"text","content":"\n \n \n 14 November 2022\n \n \n \n Oracle Power PLC\n \n \n \n (\"Oracle\", the \"Company\" or the \"Group\")\n \n \n \n \n \n \n \n \n LOI with TÜV SÜD on Green Hydrogen & Green Ammonia Certification\n \n \n \n \n \n \n Oracle Power PLC (AIM:ORCP), the international natural resources project developer, is pleased to announce that its subsidiary, Oracle Energy, has signed a letter of Intent (\"LOI\") with TÜV SÜD to explore green hydrogen and green ammonia certification relating to the green hydrogen project in development in Pakistan.\n \n \n \n \n \n TÜV SÜD is a renowned, independent third-party partner with long-standing expertise in certification of hydrogen from renewable sources which covers the entire hydrogen value chain. Oracle Energy and TÜV SÜD (together the \"Parties\") have agreed that TÜV SÜD will review the project design of Oracle Energy's proposed 400MW capacity green hydrogen plant with annual production capacity of 55,000 tonnes with a view to certifying the green credentials of the proposed production of green hydrogen and ammonia. It is anticipated that this will include all value chain processes including compression, storage, conversion, transport to end customer.\n \n \n \n \n \n Environmental certification is a key component of green hydrogen development. The European Union's renewable energy directive 2 (RED II) outlines several legal requirements for renewable fuels of non-biological origin (RFNBOs) such as green hydrogen and green ammonia to be produced by green electricity and must obtain necessary \"Guarantees of Origin\" or \"Green Certification\" before it is exported to Europe. Certified green hydrogen can be traced back to clearly identifiable and quantifiable sources and is the only hydrogen that is substantially sustainable, with low to no carbon dioxide emissions throughout the production process. TÜV SÜD offers its own CMS 70 Green Hydrogen certification alongside external standard certifications such as ISCC Plus and CertifHy, where necessary.\n \n \n \n \n \n Under the terms of the LOI, the two Parties will have the following tasks:\n \n \n \n \n \n a) Oracle Energy shall take a lead in developing user relationships and customers in Pakistan;\n \n \n b) TÜV SÜD will conduct document validation and necessary site audit...