– The European Commission announces a plan to transform Europe’s energy system to end dependence on Russian fossil fuels
– The Commission is proposing a new headline target that by 2030 the share of renewable energy will reach 45 %, including 10 million tons of domestic renewable hydrogen
– Progress Clean Technologies intends to use its technology platform to support Europe’s transition to renewable energy, so that it is no longer dependent on Russian fossil fuel imports
– RePowerEU plans additional investments of 225 billion euros by 2027
Toronto, Kanada – 23. May 2022 – Progress Clean Technologies Inc. („Progress” or that “company‘) announces today that it wants to support Europe’s transition away from Russian imports and fossil fuels. This announcement is in line with the announced plan of the European Commission (“RePowerEU’) to transform Europe’s energy system to end dependence on Russian fossil fuels.
Europe’s dependence on Russian fossil fuels costs taxpayers over £100 every year Billions of euros and at the same time poses a significant economic and political threat. The European plan has three components: energy saving, diversification of suppliers and accelerated introduction of renewable energies – especially hydrogen. the Progresstechnology will produce green hydrogen and electricity, which will benefit European projects already under way, as well as new projects that are now being launched as a result of the RePowerEU-Plan are possible, is applicable.
Under the plan, the Commission has committed to increasing the share of renewable energy to 45% by 2030, which is a significant step in the right direction. In addition, the Commission has committed to reducing regulatory hurdles (e.g. B. Shortened and simplified approval procedures) to accelerate project implementation and implement the plan quickly.
Specifically on hydrogen, the EU has publicly committed to a target of 10 million tonnes of domestic hydrogen production and 10 million tonnes of additional hydrogen imports by 2030. Hydrogen is in heavy too decarbonizing areas – such as the transport sector – Replace natural gas, coal and oil.
Die Progresstechnology produces green hydrogen with industry-leading efficiency while enabling direct conversion to green electricity. The implementation of Progresstechnology is an ideal complement to projects already underway in Europe, while also enabling new projects to accelerate implementation.
“Our commitment to developing clean hydrogen and energy technologies for use in homes and industries around the world is stronger than ever. National leadership in setting ambitious clean energy targets is crucial. The recent announcement enables new projects and technologies that will have a significant impact on the environment, the economy and, in this case, global security. Progress is well positioned to play a key role in achieving the 2030 goals in Europe.”
As the EU continues to make improvements and provide additional information, leads Progress already in talks with potential European partners to bring technologies to market to address this critical global challenge. Progress is committed to providing clean hydrogen and energy solutions that significantly reduce carbon emissions worldwide.
ABOUT Progress Clean Technologies
Progress Clean Technologies (formerly AES-100 Inc.) is a green technology development company focused on developing novel hydrogen generation and separation technologies. Progress Clean Technologies owns the exclusive rights and intellectual property to to the Advanced Electrolyzer System for the production of hydrogen from dilute Syngas.
This press release contains “forward-looking information” within the meaning of applicable Canadian securities laws. Forward-looking information includes, but is not limited to, statements regarding support for the clean energy transition in Europe, Progress Clean Technologies, die Advanced Electrolyzer System technology, the Home Power Unit and the future plans of the company. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that might cause the Company’s actual results, levels of activity, performance or achievements to differ materially from those expressed or implied in such forward-looking information, including the Risks inherent to the hydrogen industry and the risks detailed in the company’s public notice. Although the company has attempted to identify important factors that might cause actual results to differ materially from those contained in the forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events might differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company undertakes no obligation to update any forward-looking information except in accordance with applicable securities laws.
The source language (usually English) in which the original text is published is the official, authorized and legal version. This translation is included for better understanding. The German-language version can be shortened or summarized. No responsibility or liability is accepted for the content, correctness, adequacy or accuracy of this translation. From the translator’s point of view, the report does not constitute a buy or sell recommendation! Please refer to the original English message www.sedar.com, www.sec.gov, www.asx.com.au/ or on the company website!
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