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    SCATC   NO0010715139

SCATEC ASA

(SCATC)
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Real-time Quote. Real-time Oslo Bors - 01/21 10:25:09 am
134.05 NOK   -4.28%
01/04SCATEC ASA : Attachment to previous notification of long term incentive programme
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01/04SCATEC ASA : Long term incentive programme
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2021SCATEC : Season's greetings from Scatec
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Scatec's Green Hydrogen Consortium in Egypt selects Plug Power for delivery of 100 MW Electrolyser

11/24/2021 | 02:01am EST

Oslo, November 24, 2021:

Scatec (OSE: SCATC) and its partners, OCI NV, Fertiglobe (ADX: FERTIGLB), The Sovereign Fund of Egypt and Orascom Construction have selected Plug Power Inc. (NASDAQ: PLUG) as the technology provider of electrolyser for the 100 MW green hydrogen facility to be built at the Egyptian Basic Industries Corporation SAE (EBIC)’s facility in Ain Sokhna, Egypt. The hydrogen will be used to produce green ammonia.

The 100 MW PEM (Polymer Electrolyte Membrane) electrolyser will be the largest globally when it comes online. Egypt is an ideal location to produce green hydrogen given its unique renewables profile with strong solar and wind loads, and proximity to markets with a hydrogen deficit.

Green ammonia, produced from renewable energy such as solar and wind instead of natural gas, is a versatile product that is an ideal carrier fuel to store and transport hydrogen, and can help decarbonize numerous sectors.

“We are very pleased with the selection of Plug Power as technology provider to the 100 MW hydrogen facility. This is a key milestone for the project, and helps moving the green agenda forward in Egypt ahead of COP 27 in the country next year “, says CEO Raymond Carlsen.

Nassef Sawiris, Executive Chairman of OCI NV, commented: “We are excited to announce this key milestone in this essential piece of our hydrogen strategy. Plug Power is a leader in electrolysis technology, and this strategic partnership further solidifies our execution strategy. At start-up, this will be the largest green hydrogen and largest green ammonia application globally. Construction is expected to follow an accelerated schedule to showcase the green hydrogen facility during COP 27 in Egypt in November 2022, highlighting Egypt’s and Fertiglobe’s growing leadership in the renewable energy markets and commitment to a greener future.”

For further information, please contact:

For analysts and investors: Andreas Austrell, VP IR, tel: +47 974 38 686, andreas.austrell@scatec.com

For media: Stian Tvede Karlsen, Communications Manager, tel: +47 920 67 460, stian.karlsen@scatec.com 


About Scatec ASA

Scatec is a leading renewable power producer, delivering affordable and clean energy worldwide. As a long- term player, Scatec develops, builds, owns and operates solar, wind and hydro power plants and storage solutions. Scatec has more than 3.5 GW in operation and under construction on four continents and more than 500 employees. The company is targeting 15 GW capacity in operation or under construction by the end of 2025. Scatec is headquartered in Oslo, Norway and listed on the Oslo Stock Exchange under the ticker symbol ‘SCATC’. 

About Fertiglobe

Fertiglobe is the world’s largest seaborne exporter of urea and ammonia combined, and an early mover in clean ammonia. Fertiglobe’s production capacity comprises of 6.7 million tons of urea and merchant ammonia, produced at four subsidiaries in the UAE, Egypt and Algeria, making it the largest producer of nitrogen fertilizers in the Middle East and North Africa (MENA), and benefits from direct access to six key ports and distribution hubs on the Mediterranean Sea, Red Sea, and the Arab Gulf. Headquartered in Abu Dhabi and incorporated in Abu Dhabi Global Market (ADGM), Fertiglobe employs more than 2,600 employees and was formed as a strategic partnership between OCI N.V. (“OCI”) and the Abu Dhabi National Oil Company (“ADNOC”). Fertiglobe is listed on the Abu Dhabi Securities Exchange (“ADX”) under the symbol “FERTIGLB” and ISIN “AEF000901015. To find out more, visit: www.fertiglobe.com

About OCI N.V.

OCI N.V. (Euronext: OCI) is a leading global producer and distributor of hydrogen-based products providing low carbon fertilizers, fuels, and feedstocks to agricultural, transportation, and industrial customers around the world. OCI’s production capacity spans four continents and comprises approximately 16.2 million metric tons per year of hydrogen-based products including nitrogen fertilizers, methanol, biofuels, diesel exhaust fluid, melamine, and other products. OCI has more than 3,600 employees, is headquartered in the Netherlands and listed on Euronext in Amsterdam. For more information, please visit www.oci.nl

About Plug Power

Plug Power is building the hydrogen economy as the leading provider of comprehensive hydrogen fuel cell (HFC) turnkey solutions. The company’s innovative technology powers electric motors with hydrogen fuel cells amid an ongoing paradigm shift in the power, energy, and transportation industries to address climate change and energy security, while providing efficiency gains and meeting sustainability goals. Plug Power created the first commercially viable market for hydrogen fuel cell (HFC) technology. As a result, the company has deployed over 50,000 fuel cell systems for e-mobility, more than anyone else in the world, and has become the largest buyer of liquid hydrogen, having built and operated a hydrogen highway across North America. Plug Power delivers a significant value proposition to end-customers, including meaningful environmental benefits, efficiency gains, fast fueling, and lower operational costs. Plug Power’s vertically integrated GenKey solution ties together all critical elements to power, fuel, and provide service to customers such as Amazon, BMW, The Southern Company, Carrefour, and Walmart. The Company is now leveraging its know-how, modular product architecture and foundational customers to rapidly expand into other key markets including zero-emission on-road vehicles, robotics, and data centers.

About Orascom Construction

Orascom Construction PLC is a leading global engineering and construction contractor primarily focused on infrastructure, industrial and high-end commercial projects in the Middle East, Africa and the United States. The Group has consistently ranked among the world’s top contractors and is ranked number 32 on ENR’s 2021 Top 250 International Contractors list. Orascom Construction PLC also develops and invests in infrastructure opportunities, owns 50% of BESIX Group, and holds a construction materials and facilities management portfolio. For more information, please visit www.orascom.com


© OMX, source GlobeNewswire - EU Press Releases

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Financials
Sales 2021 3 862 M 434 M 434 M
Net income 2021 338 M 38,0 M 38,0 M
Net Debt 2021 15 444 M 1 735 M 1 735 M
P/E ratio 2021 63,1x
Yield 2021 1,16%
Capitalization 21 286 M 2 400 M 2 391 M
EV / Sales 2021 9,51x
EV / Sales 2022 9,40x
Nbr of Employees 500
Free-Float 73,0%
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Number of Analysts 7
Last Close Price 134,05 NOK
Average target price 177,86 NOK
Spread / Average Target 32,7%
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Raymond Carlsen Chief Executive Officer
Mikkel T°rud Chief Financial Officer
John Andersen Chairman
Jan Steffen Skogseth Independent Director
Liv GisŔle Marchand Independent Director
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