Green Energy Park (GEP) has reached a significant milestone in its endeavor to construct one of the largest hydrogen and hydrogen derivatives production plants globally. The company has finalized a definitive agreement for $30 million in Series-A funding and has secured long-term rights to the hydrogen port terminal facilities in Luis Correia, Brazil. This pivotal step underscores the strong interest among a diverse array of strategic partners, global offtakers, and financial institutions in supporting the development of world-scale hydrogen production and integrated port terminal facilities in Piaui, Brazil.
Founded in 2023, Green Energy Park is embarking on one of the most ambitious climate impact initiatives worldwide. The company aims to produce renewable hydrogen in highly cost-competitive locations, initially focusing on the optimal conditions offered by the North-East region of Brazil. With a mission to aid in the decarbonization of hard-to-abate sectors of the economy, GEP intends to distribute its green fuels to industrial and transportation offtakers.
The flagship project, Green Energy Park Piaui, marks the company’s inaugural hydrogen production plant, targeting an impressive 10.8 GW of electrolyzer capacity upon completion. Featuring cutting-edge process engineering designs drawn from the liquified natural gas and ammonia sectors, the integrated production facilities boast advanced capabilities in cryogenic gas handling and storage.
Bart Biebuyck, CEO of Green Energy Park, emphasized the urgent need for action in addressing climate change. He stated, “The world is at risk of falling behind its climate goals…We must act now!” Biebuyck outlined GEP’s commitment to producing renewable hydrogen at scale and praised the advantageous conditions offered by Piaui, Brazil, as ground zero for the hydrogen revolution.
In collaboration with Investe Piaui and the State of Piaui, Green Energy Park is poised to capitalize on the region’s exceptional potential for green hydrogen production. Victor Hugo Almeida, CEO of Investe Piaui, expressed pride in the partnership, highlighting the significant economic and environmental benefits for the state. He underscored the government’s full support for the project, aiming to foster a green industrialization agenda that attracts international investment and positions Piaui as a global leader in hydrogen production.
The partnership between Green Energy Park and the State of Piaui represents a pioneering effort towards sustainable industrialization and underscores Brazil’s emergence as a key player in the global hydrogen economy.
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