News | December 17, 2021

Proteum Energy And Istmo Energy Sign MOU For Production Of Low Cost, Clean Hydrogen In The Permian Basin

PHOENIX--(BUSINESS WIRE)--

Proteum Energy, LLC entered a binding Memorandum of Understanding (MOU) today with Istmo Energy LLC, headquartered in Fort Worth Texas, to negotiate the terms by which Proteum Energy™ will provide low cost, low carbon intensity hydrogen to Istmo for production of "ultra-low sulfur diesel" and clean hydrogen for delivery to offtake customers in the Permian Basin, Mexico and California markets.

“Istmo Energy is pleased to have the option to leverage our onsite de-ethanizers to produce hydrogen from ethane for our hydrotreaters, while at the same time offer additional clean hydrogen sales in the Permian region,” said Alex Gutierrez, Principal and Co-Founder of Istmo Energy.

“Proteum Energy is extremely pleased to be working with a strong partner like Istmo Energy providing innovative low emissions fueling solutions,” said Proteum’s CEO, Laurence B. Tree II. Specifications for the project are in the planning stages and the parties plan to commence project construction in Q3 2022.

About Istmo Energy - Istmo Energy is a midstream and downstream greenfield export platform to connect and meet the needs of poorly served markets harnessing wealth that lies within the Delaware Basin. Istmo Energy was formed by oil and gas industry professionals with decades of experience in the Mexican and US energy markets, and a solid Advisory Board consisting of industry leaders in the Energy, Financial, Legal and Regulatory space on both sides of the US/Mexico border.

About Proteum Energy – Headquartered in Phoenix Arizona, Proteum is a producer of low carbon, low-cost clean hydrogen from renewable ethanol, ethane and NGLs. With its patented and proven reformation system, Proteum can provide fuel cell grade clean hydrogen for heavy-duty transportation, low carbon hydrogen-rich designer fuels for power plants, and direct hydrogen pipeline production and injection at natural gas processing plants.


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