Chariot Ltd - Africa-focused transitional energy company - Signs memorandum of understanding with the government of Mauritania, to develop a green hydrogen project, known as Project Nour of up to 10 gigawatts.
Project Nour has been granted exclusivity over an onshore and offshore area which totals around 14,400 square kilometres to carry out pre-feasibility and feasibility studies with the intent of generating electricity from solar and wind resources, which will be used in electrolysis to split water to produce green hydrogen and oxygen.
"I am very excited by today's announcement of this agreement with the goal of quickly realising the potential of green hydrogen. In Mauritania, Chariot has a history of previous significant investments and bringing in world-class partners to projects, and we are looking forward to working with the Government of Mauritania again to fast-track Project Nour. This is a potential large new market, set to bring multiple benefits to all parties and deliver positive impact to Mauritania," says Acting Chief Executive Officer Adonis Pouroulis.
Current stock price: 6.40 pence, up 4.1%
Year-to-date change: down 25%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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Chariot Ltd (CHAR)