Technip Energies (Paris:TE) (ISIN:NL0014559478), leader of a consortium with Monford Group, has been awarded an Engineering, Procurement, Construction and Commissioning (EPCC) contract by Yuri Operations Pty Ltd, to develop Project Yuri Phase 0 project which is a green hydrogen plant in the Pilbara region of Western Australia.
Project Yuri which is being developed in partnership with Yara Clean Ammonia and ENGIE includes a 10MW electrolysis plant and an 18 MW solar photovoltaic (PV) farm with its 8 MW Battery Energy System (BESS) providing the necessary energy for the electrolysis. It will produce up to 640 tonnes of green hydrogen per annum for use in the existing Yara Pilbara Ammonia Plant to produce green ammonia.
Technip Energies is responsible for the overall project management and the electrolysis plant engineering, procurement, commissioning and start up. Monford Group is responsible for the overall project construction and the PV farm engineering, procurement, commissioning and start up.
The Project has received grant funding from the Federal Government via ARENA, as part the Advancing Renewables Program and from Western Australia State Government as a part of Western Australian Renewable Hydrogen Fund.
Mitsui & Co. Ltd. (“Mitsui”) has agreed to acquire a 28 per cent stake in Yuri Operations Pty Ltd subject to the satisfaction of certain conditions under its investment agreement.
Laure Mandrou, SVP Carbon-Free Solutions of Technip Energies, stated: “We are very proud to be entrusted by ENGIE and Yara to deliver this flagship project. Yuri project is an important milestone paving the way for an accelerated deployment of green hydrogen capacity to decarbonise the industry. Technip Energies is engaged in playing a leading role in this journey and this award reinforces our position as a key enabler for integrated carbon-free hydrogen solutions. With our partner, Monford Group, we offer a very robust and competitive combination and are committed to make this project a reference for the industry.”
Ciaran Shannon, Chief Commercial Officer of Monford Group, commented: “Monford Group is proud to deliver the first renewable hydrogen plant in Western Australia alongside Technip Energies unlocking the Pilbara’s renewable energy potential and leading the path to a zero-carbon future. We are privileged to be part of this cornerstone project which will set a benchmark for Australia’s Green Hydrogen ambition delivery program. Monford Group is focused on decarbonisation and this project embodies the drive and ambition of the Monford team to provide an integrated solution to renewable project delivery.”
The project has been named as YURI, and the project plan has a multi-phase (Phase 0-I-II-III) roadmap (YURI Roadmap) which aims to establish a new industry value chain, harvesting the abundant renewable power in Western Australia, to make renewable hydrogen and ammonia as feedstock for renewable chemical production, as well as renewable fuel for power generation and shipping, serving local and export markets (Asia and beyond).
About Technip Energies
Technip Energies is a leading Engineering & Technology company for the energy transition, with leadership positions in Liquefied Natural Gas (LNG), hydrogen and ethylene as well as growing market positions in blue and green hydrogen, sustainable chemistry and CO2 management. The company benefits from its robust project delivery model supported by extensive technology, products and services offering.
Operating in 34 countries, our 15,000 people are fully committed to bringing our client’s innovative projects to life, breaking boundaries to accelerate the energy transition for a better tomorrow.
Technip Energies is listed on Euronext Paris with American depositary receipts (“ADRs”) trading over-the-counter in the United States.
For further information: www.technipenergies.com.
About Monford Group
Monford is a leader in the construction industry, with an Australia-wide portfolio of projects in the Infrastructure, Resources and Energy sectors.
Headquartered in WA and with more than a decade of experience in the industry, Monford consistently delivers projects on time, within budget, safely and sustainably whilst maintaining a commitment to excellence in delivery and a customer-centric focus.
Built “from the ground up” and led by hands-on management, Monford’s success stems from its experience, integrity and flair for innovation, always with an emphasis on safety and quality.
Important Information for Investors and Securityholders
This release contains “forward-looking statements” as defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. Forward-looking statements usually relate to future events and anticipated revenues, earnings, cash flows or other aspects of Technip Energies’ operations or operating results. Forward-looking statements are often identified by the words “believe,” “expect,” “anticipate,” “plan,” “intend,” “foresee,” “should,” “would,” “could,” “may,” “estimate,” “outlook,” and similar expressions, including the negative thereof. The absence of these words, however, does not mean that the statements are not forward-looking. These forward-looking statements are based on Technip Energies’ current expectations, beliefs and assumptions concerning future developments and business conditions and their potential effect on Technip Energies. While Technip Energies believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting Technip Energies will be those that Technip Energies anticipates.
All of Technip Energies’ forward-looking statements involve risks and uncertainties (some of which are significant or beyond Technip Energies’ control) and assumptions that could cause actual results to differ materially from Technip Energies’ historical experience and Technip Energies’ present expectations or projections. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those set forth in the forward-looking statements.
For information regarding known material factors that could cause actual results to differ from projected results, please see Technip Energies’ risk factors set forth in Technip Energies’ filings with the U.S. Securities and Exchange Commission, which include amendment no. 4 to Technip Energies’ registration statement on Form F-1 filed on February 11, 2021.
Forward-looking statements involve inherent risks and uncertainties and speak only as of the date they are made. Technip Energies undertakes no duty to and will not necessarily update any of the forward-looking statements in light of new information or future events, except to the extent required by applicable law.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220915006146/en/
Vice-President Investor Relations
Tel: +44 20 7585 5051
Email: Phillip Lindsay
Director Press Relations & Digital Communications
Tel: +33 (1) 85 67 40 95
Email: Stella Fumey
Press Relations & Social Media Lead
Tel: +33 1 47 78 22 89
Email: Jason Hyonne
0438 387 832