Business
Q3 Update and Shareholder Q&A Session
Q3 Update and Shareholder Q&A Session.
About this update from Oracle Power Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 3537P\n Oracle Power PLC\n 18 October 2021\n \n \n \n \n \n \n \n 18 October 2021\n \n \n \n \n \n Oracle Power PLC\n \n \n (\"Oracle\", the \"Company\" or the \"Group\")\n \n \n \n \n \n Q3 Update and Shareholder Q&A Session\n \n \n \n \n \n \n \n \n Oracle Power PLC (AIM:ORCP), the international natural resources project developer, is pleased to provide the following update statement from its CEO, Naheed Memon, with respect to developments during Q3 2021:\n \n \n \n \n \n \"Our objective over the past year has been to create scale and diversification in our portfolio, to establish Oracle as a significant new competitor on the international power and resources stage. I am delighted to report that recent developments have propelled this process forward and Oracle now has multiple high growth divisions and prospects, with the support and cooperation of two state-owned Chinese enterprises and a highly supportive strategic shareholder. Oracle is pursuing power generation in Pakistan and is working to prove up two highly prospective gold properties in Western Australia, creating a group of assets and interests which can generate significant returns for our investors.\n \n \n \n \n \n \"The most recent development that I would like to refer to is the recently announced non-exclusive co-operation agreement with PowerChina International Group Ltd (\"PowerChina\"), which was signed with the objective of jointly developing a green hydrogen production facility in Pakistan. I cannot overestimate the impact that green hydrogen could have in terms of the energy transition to support a carbon neutral future, and to be a frontrunner in Pakistan is both an enormous opportunity, and huge honour. \n \n \n \n \n \n \"Green hydrogen, meaning hydrogen generated from renewable sources, is being developed as a competitive fuel source in multiple sectors, including steel and fertiliser production, cars, power generation, long-range shipping and aviation. It is planned to be deployed in multiple countries including India and many states in the Middle East, and we believe that Pakistan has the right combination of land, labour and abundant renewable resources (solar and wind) to support a large-scale green hydrogen generation facility, pivotin...