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9 May 2024 07:00
VH GLOBAL SUSTAINABLE ENERGY OPPORTUNITIES PLC
9 May 2024
Update on Net Zero Flexible Power Generation Project in the UK
VH Global Sustainable Energy Opportunities plc (the "Company" or "GSEO") - the London-listed company managed by Victory Hill Capital Partners LLP focused on the energy infrastructure that is essential for the global transition towards net zero - is pleased to announce a major milestone for its 10MW UK flexible power asset with carbon capture and re-use ("CCR").
Following the successful completion of a series of hot commissioning tests by Landmark Power (LMPH), Yellow Power and Rolls Royce MTU under the supervision of National Grid Energy Distribution ("NGED"), the operations of the asset's power plant, comprising four Rolls Royce 16V engines, has now been transferred to our operating partner LMPH. The testing and commissioning process took two weeks during which time the units successfully generated power to the grid.
The timeline for the testing and integration of the CCR element of the asset is still on track to be complete in the second half of the year with all key equipment, including the Asco CO2 scrubbing units and exhaust piping, now on site and installed.
This combined heat and power plant brings together high-efficiency, gas-fired engines technology with a CCR system that will produce highly efficient flexible power, helping to ensure the delivery of dependable power in the UK amidst increasing penetration of intermittent renewable energy. Furthermore, by utilising carbon capture technology on the gas-fired component, the project will capture and purify the CO2 exhaust, while addressing the structural shortage the industrial gases market is facing by selling the purified food-grade CO2 commercially.
The key project partners include Rolls Royce, Mitsubishi Turboden, Climeon and Asco.
Richard Lum, Co-CIO of Victory Hill Capital Partners commented:
"We are very pleased with the progress of the project to successfully achieve hot commissioning under the stewardship of our operating partner Landmark Power, who have now taken over operational control of the 16V power units on site. It has taken the continued commitment of our principal partners Yellow Power, Mitsubishi, MTU, Firbeck and Excalon to keep us on track to deliver a unique asset which will soon provide the UK with much needed flexible power and food grade CO2."
www.vh-gseo.com
The Company's LEI is 213800RFHAOF372UU580.
For further information:
Edelman Smithfield (PR Adviser)
Ged Brumby + 44 (0)7540 412 301
Victory Hill Capital Partners LLP (Investment Manager)
Navin Chauhan info@victory-hill.com
Deutsche Numis (Corporate Broker)
David Benda +44 (0)20 7260 1000
Matt Goss
Apex Fund and Corporate Services (UK) Limited (Company Secretary)
ukfundscosec@apexgroup.com
About Victory Hill Capital Partners LLP
Victory Hill Capital Partners LLP ("Victory Hill") is authorised and regulated by the Financial Conduct Authority (FRN 961570).
Victory Hill is based in London and was founded in May 2020 by an experienced team of energy financiers that spun-out of a large established global project finance banking group. The team has participated in more than $200bn in transaction values across 91 conventional and renewable energy-related transactions in over 30 jurisdictions worldwide. Victory Hill is the investment manager of the Company.
The Victory Hill team deploys its experience across different financial disciplines in order to assess investments holistically from multiple points of view. The firm pursues operational stability and well-designed corporate governance to generate sustainable positive returns for investors. It focuses on supporting and accelerating the energy transition and the attainment of the UN sustainable development goals.
Victory Hill is a signatory of the United Nations Principles for Responsible Investing (UN PRI), the United Nations Global Compact (UN GC), Net Zero Asset Managers Initiative (NZAMI), a member of the Global Impact Investing Network (GIIN) and is a formal supporter of the Financial Stability Board's Task-Force on Climate-related Disclosures (TCFD).
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