Chariot Limited (AIM: CHAR): Feasibility study as a first step to unlocking a mega green hydrogen project
• The feasibility study for the green hydrogen “Project Nour” has now been presented to the government of Mauritania. Chariot holds a 50% interest in the project and TotalEnergies is a partner.• Mauritania benefits from an ideal geography for wind and solar energy. The 10 GW project will be developed in several phases, starting with a renewable capacity of 3 GW powering up to 1.6 GW of electrolysis capacity to produce 150,000 t of green hydrogen per annum.
• The hydrogen generated by the project can be sold domestically for green steel production and exported to Europe as green ammonia There is an existing deep sea port at Nouadhibou.
• We value Chariot’s interest in Project Nour at £0.05 per share.
• We re-iterate our target price of £0.50 per share.
Chariot Oil & Gas is an independent oil and gas exploration company focused offshore in West Africa with a portfolio of assets located in the under-explored regions of Namibia, Mauritania and Morocco.
Auctus Advisors is a specialist Equity Capital Markets and Advisory business with a focus in the Energy Sector.
The partners have complementary skill sets, with decades of experience across Equity Capital Markets, Investment Banking and the Energy industry. We have worked at Société Générale, Canaccord Capital, BMO Capital Markets and Schlumberger. Most recently we have worked together for many years at GMP FirstEnergy.
Auctus has been set up at the beginning of a new decade in which we see significant opportunities in the Energy space. Globally, demand for energy is at record levels and continues to grow. Conversely, investment in traditional energy sources has been severely constrained. We believe this imbalance creates opportunities for both companies and investors.
Auctus provides Corporate Broking, Equity Research and Investment Banking services.
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