Brooge Energy Ltd forms wholly owned subsidiary, “Brooge Renewable Energy Ltd”, to expand its infrastructure and services into Green Energy.
New Subsidiary has signed a preliminary land lease agreement for its planned Green Hydrogen and Ammonia plant in UAE to produce up to 300,000 MT of Green Ammonia per annum once fully completed
NEW YORK(Press Release):: Brooge Energy Ltd, (“Brooge Energy” or the “Company”), is a Cayman Islandsbased infrastructure provider which is currently engaged in clean petroleum products and biofuels and crude oil storage and related services. The Company is now intending to focus on renewable energy
infrastructure. The Company conducts its business and operations through its subsidiary Brooge
Petroleum and Gas Investment Company FZE (“BPGIC”). BPGIC is strategically located outside the Strait
of Hormuz at the Port of Fujairah in the Emirate of Fujairah in the UAE.
The Company announced today that it has established Brooge Renewable Energy Ltd (“BRE”), a wholly
owned subsidiary of Brooge Energy to focus on green energy related infrastructures activities that are
intended to accommodate the necessary energy transfer from fossil fuels into energy produced from
renewable resources as the private sector and regulators are increasingly focusing on combatting the
harmful effects of climate change.
Commenting on this new business, Mr. Nicolaas Paardenkooper, Chief Executive Officer of Brooge Energy,
stated, “Global demand for clean energy sources has been strong and is expected to accelerate in the
coming years. A decade ago, the Company undertook the initiative to become more environmentally
friendly. As a result, Brooge Energy is at the forefront of the clean energy movement having already built
one of the most environmentally friendly storage facility in the world, including being among the lowest
waste producers in its industry from its terminal as well as being fully compliant with local and
international guidelines in respect to emissions. Its facilities are also equipped with solar panels and are
reliant on clean power for its energy sources. This latest initiative has us well-positioned to continue to
build value for shareholders.”As a first step in BRE’s planned Green Hydrogen and Green Ammonia plant in Kizad, Abu Dhabi that is targeted to produce up to 300,000 MT green Ammonia per annum once fully completed, BRE has signed a preliminary land lease agreement for a 150,000 square meter plot with “KIZAD” that will host this plant