Abraxas Power Corp. and its subsidiary EVREC have received positive feedback from Newfoundland and Labrador's Department of Environment and Climate Change regarding the advancement of the Green Energy Hub Project in Botwood. The approval for the submission of an Environmental Impact Statement marks a significant step forward in the responsible development of the project. EVREC's Power-to-X initiative will leverage wind energy to produce green hydrogen and green ammonia, contributing to global clean energy solutions and aiming for substantial annual production volumes. The Project, with an estimated capital investment of CAD$12 billion, is poised to have a substantial economic impact, boosting provincial GDP, employment income, and supporting job creation in the region. EVREC's commitment to transparency, stakeholder engagement, and sustainable development underscores its dedication to creating value through renewable energy solutions. The Project's potential to stimulate local economies, create high-skilled jobs, and strengthen partnerships with communities showcases a vision for sustainable energy transition and economic growth in Newfoundland and Labrador.