World Energy GH2 and Vortex Energy Corp Announce Memorandum of Understanding to Explore Hydrogen and Green Energy Storage Solutions in Newfoundland & Labrador

Vortex and World Energy GH2 to collaborate, combining their collective expertise to actively pursue sustainable energy solutions in Newfoundland & Labrador

VANCOUVER, British Columbia, May 13, 2024 (GLOBE NEWSWIRE) -- Vortex Energy Corp. (CSE: VRTX | OTC: VTECF | FRA: AA3) ("Vortex” or the "Company") is pleased to announce that World Energy GH2 (“World Energy”) and Vortex have agreed, by way of a memorandum of understanding (“MoU”), to explore green energy cavern storage solutions in Newfoundland and Labrador. 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.”

About World Energy GH2

World Energy GH2 is a Newfoundland and Labrador-based renewable energy partnership affiliated with World Energy LLC, one of the world's largest producers of green fuels. Project Nujio'qonik is a consortium of partners advancing a cost effective, safety-focused green hydrogen/ammonia production facility on the west coast of Newfoundland and Labrador, Canada. Project Nujio'qonik aims to be Canada's first commercial green hydrogen/ammonia producer created from 4+ Gigawatts of wind energy in one of the world's best wind resource regions. Project Nujio'qonik's partners are CFFI Ventures, Columbus Capital, World Energy LLC, Horizon Maritime, and SK ecoplant. World Energy GH2 is committed to Truth and Reconciliation Call to Action 92 and is working to ensure that Indigenous communities gain long-term, sustainable benefits from Project Nujio’qonik. As an affirmation of this commitment, World Energy GH2 has signed an MOU with Qalipu First Nation and is incorporating a range of capacity building activities designed to leave a legacy of prosperity and environmental excellence. https://worldenergygh2.com/