Proton Ventures and LBC Tank Terminals have established a strategic joint venture aimed at developing ammonia terminal operations across Northwestern Europe and North America.
According to the companies, by fostering growth and innovation in ammonia terminal operations through united expertise and resources, this business venture sets the stage to meet “ growing” market demand at the forefront of the energy transition.
Moreover, the alliance not only highlights the need for sustainable storage solutions but showcases the importance of strategic collaborations in driving the energy transition, the companies said, noting that they are targeting to establish the joint venture before the summer of 2024.
Paul Cox, CCO of Proton Ventures, stated: “Our comprehensive approach, from feasibility studies to EPC works, underpins our commitment to drive the energy transition through innovative ammonia-based solutions. We are excited to combine our technical know-how with LBC’s operational excellence to advance the development of green ammonia facilities crucial for reducing global carbon emissions and optimizing renewable energy use.”
Frank Erkelens, CEO of LBC Tank Terminals, commented: “Our focus on safety, sustainability, service, and efficiency is integral in supporting emerging supply chains. We look forward to combining forces with Proton Ventures for this future-focused endeavor which aligns with our strategic objectives to make positive impact and transform the industry in order to meet global energy needs.”
To remind, in late 2023, Proton Ventures and Geldof were awarded a front-end engineering design (FEED) contract for what is said to be the first green ammonia terminal in Western Africa.
Proton Ventures said the project marks a significant step towards exporting green ammonia from Western Africa to the world, adding that the terminal will be located near major shipping trade lanes, making it an ideal spot for the production of renewable energy.