The_Catalyst_Review_January_2024 - 5

Jakson Green Poised to Ship First Green Hydrogen Electrolyzer
Jakson Green, an energy transition platform, is reportedly gearing up to ship its first green hydrogen electrolyzer in a couple
of months. The company reported they are in the advanced stages of partnering with technology providers for electrolyzer
manufacturing. They are evaluating partnerships with companies specializing in various electrolysis technologies including
proton exchange membrane (PEM), anion exchange membranes (AEM), or alkaline. The company recently launched a
100-megawatt electrolyzer manufacturing plant and plans to escalate its capacity to one gigawatt. They are in talks with
technology partners for both domestic and international manufacturing collaborations. Jakson Green is also engaging
with maritime shipping lines to supply green methanol at ports, targeting around 8-10% of the overall production of green
molecules in the form of methanol and ethanol. Additionally, they are collaborating with National Thermal Power Corporation
(NTPC) to set up a 10-tonnes-per-day green methanol production plant. This involves capturing carbon dioxide from
thermal power plant flue gases, using electrolysis to create hydrogen, and then synthesizing green methanol. Their goals
include achieving a 0.5 million metric tonnes per annum (mmtpa) capacity for green hydrogen and its derivatives production
by 2030. Currently, they are participating in bids for port land allocation at green hydrogen hubs in India. The company
added that their current investments are not capital-intensive, primarily focusing on early-stage development processes like
environmental impact assessment, securing leases, establishing connectivity, and preparing project detailed project reports
(DPRs). Source: Jakson Green, 12/31/2023.
TotalEnergies Sells 25.5% Stake in Seagreen Wind Farm to PTTEP for US$689M
TotalEnergies has signed an agreement with
Thailand's national oil and gas company
PTTEP for the sale of a 25.5% equity stake
in the Seagreen offshore wind farm for a
consideration of US$689 million. Following
this farm down, TotalEnergies retains 25.5%
of Seagreen, alongside PTTEP (25.5%) and
SSE Renewables (49%). This transaction
implies an enterprise value of $4.3 billion
(100%), equivalent to a multiple of 13 times
the expected average EBITDA over the next 5
years, depending on future market prices. With
a total capacity of 1,075 MW, Seagreen is the
world's deepest fixed bottom wind farm. Fully
operational since October 2023, Seagreen is
comprised of 114 turbines which can provide
enough electricity to power more than 1.6
million homes, equivalent to two-thirds of all
homes in Scotland. In addition, TotalEnergies
and PTTEP have signed a Memorandum of
Understanding (MoU) to explore joint opportunities in the development of renewable energies. The completion of the
transaction is subject to receipt of applicable governmental and regulatory approvals. Source: World Oil, 12/22/2023.
NYK Charts Course for Full-scale Biofuel Trials in 2024
Starting in fiscal 2024, Japanese shipping company NYK plans to launch full-scale trials of the long-term use of biofuels
in navigating its existing heavy oil-fired vessels. Biofuels continue to gain traction in the maritime industry due to their
compatibility with existing infrastructure enabling vessels fitted with heavy oil-fired engines with an option to operate more
sustainably. NYK has already conducted several biofuel trials over the past couple of years. Specifically, the company's data
shows that since the 2019 fiscal year, short-term biofuel trials were conducted in about 10 vessels. Source: NYK, 12/27/2023.
acquisition is expected to transform Harbour into one of the world's largest and most geographically diverse independent oil and
gas companies, adding material gas-weighted portfolios in Norway and Argentina and complementary growth projects in Mexico.
Harbour will also benefit from an increased reserve life and improved margins with lower operating costs and greenhouse gas (GHG)
intensity. Harbour is expected to receive investment grade credit ratings and to benefit from a significantly lower cost of financing
resulting from the porting of existing euro denominated Wintershall Dea bonds with a nominal value of approximately US$4.9 billion
and a weighted average coupon of approximately 1.8%. The acquisition is also accretive to Harbour's free cash flow, supporting
enhanced and sustainable shareholder returns. Source: Harbour Energy, 12/21/2023.
The Catalyst Review
January 2024
5

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