Vortex Energy Corp. and World Energy GH2 have agreed, by way of a memorandum of understanding, to explore green energy cavern storage solutions in Newfoundland and Labrador, according to a news release.
The MOU was signed in Rotterdam, Netherlands at the Canadian Pavilion during the World Hydrogen Conference.
Recognizing the immense potential of Newfoundland and Labrador as a hub for renewable energy development, World Energy and Vortex have agreed to leverage their collective expertise, resources, and technologies in the pursuit of sustainable energy storage solutions.
Paul Sparkes, CEO of Vortex Energy Corp said, “This MOU marks a significant step towards meeting our shared goal of bolstering the province’s green energy economy and ensuring long-term energy security. We are extremely excited about the next steps.”
Both companies are committed to driving innovation and fostering the development of the infrastructure necessary for the widespread adoption of green energy solutions in Newfoundland and Labrador. Through collaborative research, development, and deployment initiatives, World Energy GH2 and Vortex Energy Corp intend to work together to study and explore scalable and efficient storage solutions.
Sean Leet, CEO of World Energy GH2, commented, “We look forward to working with Vortex Energy in the development of the Green Hydrogen industry in Newfoundland and Labrador. There are many opportunities for collaboration as the development of energy storage is further evaluated. Vortex has been a proactive partner and we are pleased to be working with them in our project area.”
