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Oracle Power PLC - Cambridge, England-based power and natural resource project developer with focus on Pakistan - Says joint venture company Oracle Energy Ltd signs a non-binding memorandum of understanding with Blue Carbon LLC to collaborate on a decarbonisation roadmap to complement Oracle Energy's green hydrogen project in Pakistan.
Chief Executive Officer Naheed Memon says: "This [memorandum of understanding] further builds on our developments in the hydrogen industry and further complements our JV partnership supported by His Highness Shaikh Ahmed Dalmook Al Maktoum. With its expertise in climate change economics, Blue Carbon aims to be at the forefront of sustainable climate change investment."
Blue Carbon is a Dubai-based company owned by Shaikh Ahmed Dalmook Al Maktoum to create environmental assets, nature-based solutions and support carbon removal projects worldwide. Last month, Oracle energy gained formal approval from the Directorate of Alternative Energy in Sindh, Pakistan for a letter of intent to establish a 1,200 megawatt hybrid solar, wind and green hydrogen power project.
Current stock price: 0.21 pence
12-month change: down 57%
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