VVC Strategic Investment - Proton Green - Selected for U.S. Department of Energy Grant to Develop Southwest Regional Direct Air Capture Hub
18 Agosto 2023 - 7:00AM
Proton Green LLC, a strategic investment of VVC Exploration
Corporation, dba VVC Resources, ("VVC" or the "Company"),
(TSX-V:VVC and OTCQB:VVCVF) was chosen by the U.S. Department of
Energy to lead the development of the Southwest Regional Direct Air
Capture (DAC) Hub. This initiative, backed by an esteemed
consortium of industry leaders, universities, and organizations,
has secured a substantial $11.6 million grant that underscores the
promise of a cleaner, more sustainable future. Proton Green is a
wholly owned subsidiary of Cyber App Solution Corp. (OTC: CYRB).
VVC owns approximately 11.9% of Cyber App Solution Corp.
The Southwest Regional DAC Hub project is an
integral part of the U.S. Department of Energy's groundbreaking
Regional DAC Hubs program, aimed at expediting the establishment of
a wide-reaching network of large-scale DAC carbon dioxide (CO2)
removal sites across the nation. This initiative aligns with VVC's
commitment to invest in projects fostering innovation and
sustainable solutions within the energy sector.
Proton Green, a leading operator in the helium
and beverage-grade CO2 market, will play an important role in
facilitating the creation of a Storage Field Development Plan in
conjunction with its consortium partners. This comprehensive plan
will encompass diverse planning aspects including engineering,
infrastructure layout, operational intricacies, and transportation
logistics. The overarching goal is to pave the way for a
multi-location DAC Hub capable of capturing over 1.0 million metric
tons of CO2 annually from the atmosphere. This captured CO2 will be
securely sequestered within Proton Green's St. Johns Field basin
and two additional locations, reflecting Proton Green's commitment
to addressing carbon emissions on a significant scale.
"The Southwest Regional Direct Air Capture Hub
is a pioneering endeavor that aligns perfectly with VVC’s
commitment to advancing sustainable technologies," said Terry
Martell, Chairman of VVC Resources. "In addition to the
environmental benefits, the grant allows Proton Green to take a big
step in developing its carbon capture business."
The DAC Hub will complement Proton Green's
strategic vision for CO2 sequestration at its St. Johns Dome asset,
which is anticipated to serve as one of the multi-site locations
within the Southwest Hub. Furthermore, the Hub's development holds
the promise of fostering a renewable energy surge in a region
marked by aging coal plants scheduled for retirement and expansive
land with existing transmission capacity. This transition presents
a unique opportunity to support local communities, generate tax
revenue, and pave the way for sustainable industrial growth.
About VVC Resources
VVC engages in the exploration, development, and
management of natural resources - specializing in scarce and
increasingly valuable materials needed to meet the growing,
high-tech demands of industries such as manufacturing, technology,
medicine, space travel, and the expanding green economy. Our
portfolio includes a diverse set of multi-asset, high-growth
projects, comprising: Helium & industrial gas production in
western U.S.; Copper & associated metals operations in northern
Mexico; and Strategic investments in carbon sequestration and other
green energy technologies. VVC is a Canada-based, publicly-traded
company on the TSXV (TSX-V:VVC) and on the OTC Market
(OTCQB:VVCVF). To learn more, visit our website at:
www.vvcresources.com.
About Proton Green, LLC
Proton Green LLC (OTC: CYRB) is a leading
operator of one of the largest Helium and beverage grade CO2 hubs
in North America. The Company maintains exclusive production rights
to St. Johns Field, a 170,500 acre property in Arizona with a 33
billion cubic feet helium reservoir, 517 billion ton CO2 reservoir
and a basin with the potential to store 1 billion metric tons of
CO2. The Company is currently one of the leading producers of
Helium in North America – a high-demand gas in both consumer and
critical technology applications – leveraging strategic offtake
partners with fixed-price agreements to drive a predictable revenue
stream. Notably, both Helium and CO2 produced at St. John’s Field
contain no hydrocarbon component. To learn more, please visit our
website at https://www.protongreen.com/.
On behalf of the Board of Directors
Michel J. Lafrance, Secretary-Treasurer
For further information, please contact: |
Patrick Fernet - 514-631-2727 |
|
or |
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Trevor Burbank - 214-641-1041 |
E-mail: |
|
pfernet@vvcexploration.com |
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E-mail: |
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trevor@vvcexpl.com |
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adequacy or accuracy of this release.
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FORWARD-LOOKING STATEMENTS:
This news release contains "forward-looking
information" (within the meaning of applicable Canadian securities
laws) and "forward-looking statements" (within the meaning of the
U.S. Private Securities Litigation Reform Act of 1995). Such
statements or information are identified with words such as
"anticipate", "believe", "expect", "plan", "intend", "potential",
"estimate", "propose", "project", "outlook", "foresee", “strategy”,
"success" or similar words suggesting future outcomes or statements
regarding an outlook. Such statements include, among others: The
overarching goal is to pave the way for a multi-location DAC Hub
capable of …; This captured CO2 will be securely sequestered within
…; which is anticipated to serve as one of the multi-site locations
…; holds the promise of fostering a renewable energy surge …;
presents a unique opportunity to …; etc.
Such forward-looking information or statements
are based on several risks, uncertainties and assumptions which may
cause actual results or other expectations to differ materially
from those anticipated and which may prove to be incorrect.
Assumptions have been made regarding, among other things,
management's expectations regarding the sequestration of CO, the
planning and completion of the Hub and associated infrastructure.
Actual results could differ materially due to a number of factors,
without limitation, operational risks in the completion of the
project, delays or changes in plans with respect to the development
of the project, dependence on third parties for many aspects of the
business; general market and economic conditions; technical
factors; risks in legislative changes in the applicable
jurisdictions, the ability to attract key personnel. No assurances
can be given that the efforts by Proton Green will be
successful.
Although the Company believes that the
expectations reflected in the forward-looking information or
statements are reasonable, prospective investors in the Company's
securities should not place undue reliance on forward-looking
statements because the Company can provide no assurance that such
expectations will prove to be correct. Forward-looking information
and statements contained in this news release are as of the date of
this news release and the Company assumes no obligation to update
or revise this forward-looking information and statements, except
as required by law.
Investors are cautioned that notwithstanding the
expectations described herein, there can be no assurance that the
plans described herein will be completed as proposed. Trading in
the securities of VVC should be considered highly speculative. All
forward-looking statements contained in this press release are
expressly qualified in their entirety by these cautionary
statements and by those made in our filings with SEDAR in Canada
(available at www.sedarplus.com).
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