Energeticcity is the voice of the Peace. But we need your help. Give $10 a month today and be the reason we can cover the next story!
TORONTO — A subsidiary of South Korean company SK Group has signed a deal with World Energy GH2 to buy a minority stake in a Canadian green hydrogen project for US$50 million.
Under the deal, SK ecoplant will acquire a 20 per cent stake in the first stage of the Nujio’qonik project in Newfoundland and Labrador.
Nujio’qonik is designed to be a green hydrogen and ammonia producer powered by renewable electricity from wind projects.
The companies say SK ecoplant will to be an important partner in this project, thanks to its expertise in green hydrogen and engineering.
World Energy GH2 chairman John Risley called the investment validation that the company has all of the requirements for a successful project.
Canada and Germany signed an agreement to build a new hydrogen supply chain across the Atlantic last year.
This report by The Canadian Press was first published May 17, 2023.
The Canadian Press
Thanks for Reading!
Energeticcity.ca is the voice of the Peace, bringing issues that matter to the forefront with independent journalism. Our job is to share the unique values of the Peace region with the rest of B.C. and make sure those in power hear us. From your kids’ lemonade stand to natural resource projects, we cover it–but we need your support.
Give $10 a month to Energeticcity.ca today and be the reason we can cover the next story.