ADX has signed an agreement with Austria to use green hydrogen

An agreement to generate electricity from WKS’s 91 wind turbines was reached

ADX and Windkraft Simonsfeld (WKS) have signed a memorandum of understanding (MOA) for the delivery of green power as well as the collaborative development of a green hydrogen production and underground storage project in the Vienna Basin, according to the company (H2 Project).

Wind energy company WKS, located in Austria, is a significant European wind power producer that will be running 91 wind power plants by the end of this year, with an annual capacity of roughly 640 million kWh kilowatt hours.

WKS operates and constructs wind power facilities near the ADX fields, where green electricity generating capacity will be restricted from time to time due to the presence of the ADX fields.

As part of the deal, ADX will manage and coordinate development planning and execution, as well as the provision of essential reservoirs, wells, surface facilities, and infrastructure. ADX will also manage and coordinate development planning and execution.

The company will also handle the marketing and sale of green hydrogen, as well as providing project management and operations services for the implementation and operation of hydrogen generating (electrolyser), storage, and transportation infrastructure.

The H2 Project will be supplied with power generated from renewable sources (wind and solar) by WKS Energy.

The electrical grid system in the northern Vienna basin is approaching the end of its useful life.

Due to a shortage of available power distribution infrastructure, renewable wind energy from WKS adjacent existing and future wind farms in Prinzendorf and Poysdorf-Wilfersdorf (localities close to the ADX Vienna Basin fields) does not always get access to the grid at full capacity.

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Strong winds might make this situation worse.

Power generation at WKS must be limited to some extent during certain periods, resulting in the loss of environmentally friendly electricity.

The H2 Project will make it possible to utilise wind power that has been restricted in a responsible manner for green hydrogen generation.

Wind energy may be transformed into green hydrogen with the use of an electrolyser, which can then be temporarily stored in existing subterranean storage facilities.

ADX has underground storage in the near proximity of the WKS wind farm in Prinzendorf, which is operated by the company.

Ian Tchacos, executive chairman of ADX, stated, “The Board of Directors of ADX is extremely encouraged by the progress being made by our Austrian management team on the H2 Project.”

“They have produced a significant strategic partnership with Windkraft Simonsfeld AG (“WKS”), which is a prominent green energy producer and operator,” says the company’s president.

The Vienna basin, where ADX also produces safe, long-life, low-emission oil and gas, has an excellent environmental and community involvement track record, according to WKS.

According to the company, “WKS’s provision of presently curtailed green power to the H2 Project, as well as their possible engagement in the project, offers strong alignment between the parties and greatly improves the certainty of H2 Project creation at a quick speed.”

The company says it is looking forward to working with WKS to capitalize on existing and upcoming hydrogen market possibilities through the repurposing of its assets for a long-term green energy production future.