European Energy has entered into a 50-year lease agreement with Victoria County Navigation District (Port of Victoria) in Texas in the Port’s North Industrial Park.
European Energy will develop a e-methanol facility at the site, which can produce around 100,000 tons a year e-methanol. The process involves using renewable solar and wind energy to split water (H2O) into green hydrogen and oxygen. This green hydrogen, along with biogenic carbon dioxide (CO2), would be synthesized on-site to produce e-methanol. The Power-to-X project will, at Final Investment Decision (FID) commit to an investment of hundreds of millions in port infrastructure, generating more than 200 jobs during construction and 60 ongoing local jobs.
