Torrent Capital’s latest information on its investment in Argentia Capital Inc.

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Halifax, Nova Scotia–(Newsfile Corp. – March 21, 2024)– Torrent Capital Ltd. (TSXV: TORR) (“Torrent Capital”) Congratulations to the Ports of Argentina and the Hamburg Port Authority for signing a Letter of Intent (“LOI”) to cooperate in the import and export of green hydrogen from Canada to Germany. The agreement was signed during the Canada-Germany Hydrogen and Ammonia Production and Offtakers Conference in Hamburg.

The conference was held in support of the Canada-Germany Energy Partnership and Hydrogen Alliance. The alliance is committed to helping both countries reduce emissions, transition to cleaner fuels and a greener economy through exports of Canadian clean hydrogen to Germany.

During the meeting, Canada and Germany announced the signing of a Memorandum of Understanding (“MOU”) committing both countries to support transactions between Canadian hydrogen producers and Germany’s industrial manufacturing and energy distribution sectors. The purpose of this MOU is to identify a pathway to enable Canadian hydrogen producers to develop commercial-scale projects based on reasonable prices contained in long-term commercially binding offtake agreements with German buyers. That’s true.

The Port of Argentina aims to host the production of a robust supply chain of green hydrogen derivatives for export to Germany. Pattern Renewable Holdings Canada 2 ULC (“Pattern Energy”) is conducting the feasibility, environmental and permitting work necessary to establish Argentia Renewables, a 300 MW wind energy green hydrogen production project at the Port of Argentia. Masu. Coinciding with the Canadian and German Hydrogen and Ammonia Producer and Offtakers Conference, Pattern Energy has signed an LOI with Germany-based integrated energy company Mavanaft. The LOI outlines Pattern Energy and Mavanaft’s mutual interest in making an equity investment and exploring a potential partnership for the supply of green ammonia from Pattern Energy’s Argentine Renewable Project.

Argentia Capital Inc. (“ACI”) is a 50-50 joint venture between Port of Argentia Inc. (“POA”) and Torrent Capital Ltd. Torrent Capital is investing in port development projects through joint ventures, with the opportunity to earn royalty income and invest in equity positions. ACI negotiated investment opportunities in Pattern Energy’s renewable energy and green fuel projects. The negotiated commercial terms will result in ACI receiving royalties calculated as a percentage of gross revenue on sales from the ammonia production facility., Rates range from 1.0% to 3.5% depending on price. In addition, ACI has established a limited liability policy of up to 12.5% in wind, hydrogen, ammonia projects, or other entities established to maintain and operate the production, storage, and export of renewable energy green fuels at ports. Has the right to acquire partner shares. ACI’s involvement in this venture underlines ACI’s commitment to working with POA to foster innovative projects with significant long-term benefits.

Pattern Energy Renewable Green Fuel Project in Argentine Port

Pattern Renewable Holdings Canada 2 ULC (“pattern energy“) plans to develop a renewable energy-to-green fuels project at the Port of Argentia, Newfoundland and Labrador. Feasibility of a renewable energy-to-green fuels project at the port and permitting work is underway. The project includes the installation of 300MW of wind power on land owned by Ports of Argentia on private land, as well as a Hydrogen/ammonia plants will be installed at the port, these facilities will produce hydrogen through electrolysis of water, use renewable wind energy to produce nitrogen through air separation using renewable energy, and produce hydrogen gas. When nitrogen gas reacts with nitrogen gas, ammonia is produced, and its energy content is a product of the energy used to produce these gases. Green ammonia is produced at 400 tons per day (MTPD) (146,000 ammonia per year). The project is targeted for commissioning in 2027. Once the project is commissioned, the products will be exported to the international market by ship. Based on the project feasibility and market conditions, the project will be launched in the second phase. It has the potential to be scaled up to more than 1 gigawatt of renewable energy producing approximately 1,400 MTPD of ammonia.

About Torrent Capital Co., Ltd.

Torrent is a publicly traded issuer that invests in the securities of private and public companies. We invest in companies with accelerated growth potential or companies that are trading at a discount to their intrinsic value. Torrent offers investors the potential to earn above-market returns while offering transparency, daily liquidity, and a modest fee profile compared to competing investment products.

For more information, please contact us below.

torrent capital
Wade Day, President and CEO
Bus: 902-536-1976 Fax: 902-491-4281
info@torrentcapital.ca

Cautionary Note Regarding Forward-Looking Information: This press release contains certain “forward-looking statements” under applicable Canadian securities laws. Forward-looking statements, while necessarily believed to be reasonable, involve risks, known and unknown, that may cause actual results or future events to differ materially from those expressed or implied. are based on numerous estimates and assumptions that are subject to risks, uncertainties and other factors. By such forward-looking statements. There can be no assurance that such statements will prove to be accurate, as actual results or future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Torrent disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. For a discussion of risks and uncertainties, please refer to our annual financial report.

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