Canadian energy firm acquires key hydrogen port

World Energy GH2 has acquired the Port of Stephenville which is a key asset in Newfoundland and Labrador’s first green hydrogen development.

“Project Nujio’qonik will be the first project in the country to produce hydrogen and ammonia from renewable wind energy at scale, so we can make good on Canada’s promise to Germany by 2025,” said John Risley, chairman of World Energy GH2.

“Our port and our project will serve as a catalyst for other green hydrogen projects in Atlantic Canada and beyond. This isn’t just about our project or our region; this is about an entire industry, and Canada’s responsibility to manage a timely and effective energy transition that will create opportunities and prosperity for generations to come.”

Strategic acquisition

The acquisition of the port is an important step toward the shipping of green hydrogen and green ammonia to global markets.

In order to fulfil the August 23, 2022 Canada Germany Hydrogen Alliance, Project Nujio’qonik aims to produce green hydrogen in 2025.

Over the last few weeks, several key pieces of the agreement have come together, including the partnership agreement with SK ecoplant, marking the first overseas investment in a Canadian green hydrogen project. 

Operating under contract with World Energy GH2, Horizon Maritime Services will manage the Port of Stephenville to follow protocols from leading European ports to ensure robust international safety standards for the safe shipping of green ammonia.

World Energy GH2 plans to begin site preparation for construction of the green hydrogen plant following environmental approvals and permitting.