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Louisiana Economic Development Announces Proposed Ascension Clean Energy Project

Clean Hydrogen Works, Denbury Carbon Solutions and Hafnia partner for proposed $7.5 billion transformational project in Ascension Parish

Oct 31, 2022

FOR RESPONSE

October 31, 2022

3:15 p.m. CT


ISSUED BY

Clean Hydrogen Works Senior Vice President & Chief Operating Officer Mitch Silver


About the Ascension Clean Energy (ACE) Project

Clean Hydrogen Works (CHW) and project shareholders Denbury Carbon Solutions, a subsidiary of Denbury, Inc. and the largest CO2 pipeline operator in the U.S., and Hafnia, a world leading product tanker company, have come together to pursue the development of a world-scale clean hydrogen-ammonia production and export project, Ascension Clean Energy (ACE). With a projected $7.5 billion investment, this transformational project would provide a cost-effective and scalable pathway to decarbonize the world’s use of energy.


We have identified 1,700 acres strategically located on the West Bank of the Mississippi River in Donaldsonville’s industrial RiverPlex MegaPark for the project. Its proximity to feedstock pipelines, direct access to the Mississippi River and existing infrastructure make this site ideal to position Louisiana as an innovator in the global energy transition. This aligns with Louisiana's Climate Action Plan, specifically the state’s goal to be carbon neutral by 2050.


Producing an expected 7.2 million metric tons of ammonia annually, this integrated, state-of-the art facility would create an estimated 350 direct new jobs in Ascension Parish, providing the opportunity for local residents to be at the forefront of the clean energy transition. The state’s highly skilled and trained workforce is another advantage for the development and operation of the project. Project shareholders are committed to working with local community and education leaders to provide pathways to additional training and

job opportunities for the local workforce.


During its production process, ACE would capture an estimated 12 million metric tons of CO2 annually at a capture rate of up to 98 percent. Additional technologies are being explored which could result in zero-carbon or even carbon negative hydrogen-ammonia production at the facility. A recognized leader in CO2 transportation and storage, Denbury’s decades of experience as the largest CO2 pipeline operator in the U.S. make them an ideal partner in this

venture. Hafnia’s best in class tanker fleet is ideally suited to help develop safe, sustainable, and efficient solutions to ship ACE’s clean hydrogen-ammonia to emerging clean energy markets across the globe.


We are committed to transparency and open, two-way communication with ACE stakeholders throughout this process and

will work collaboratively to develop a project of which both the company and community can be proud.


About Clean Hydrogen Works (CHW)

Project majority shareholder, Clean Hydrogen Works (CHW), is a

sustainability-focused, commercially oriented project developer with extensive experience in developing integrated energy value chains. Established in early 2021, CHW is led by an experienced team of project executives from leading global energy companies.

Developing integrated clean hydrogen-ammonia value chains optimized for low-cost and low carbon, CHW is helping to meet the world’s growing energy needs with a secure, affordable, and sustainable energy supply at scale. Clean hydrogen and ammonia as a

hydrogen carrier will play critical roles in the global energy transition by complementing renewables to decarbonize critical sectors including marine, power, industrial, and heavy transport. For additional information, visit cleanhydrogenworks.com.


CLEAN HYDROGEN WORKS MEDIA CONTACT

Lana Venable

Lana.venable@thetjcgroup.com

225.328.8826


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