Abraxas Power Corp. and its subsidiary, Exploits Valley Renewable Energy Corporation (EVREC), have announced the signing of a Master Lease Option Agreement with Exploits Marine and Logistics Inc. and Exploits Valley Port Corporation for the use of the Port of Botwood in central Newfoundland for their green hydrogen and ammonia project. The 30-year agreement aims to facilitate the production, transmission, and loading of green ammonia onto marine transport vessels for global markets. Additionally, a five-year Construction Lease Option Agreement was signed to support activities leading to commercial operation. The collaboration between the parties, including local entities like Exploits Marine and the Port Corporation, signifies a commitment to innovation in renewable energy and economic growth in the region. The agreements are seen as pivotal steps in enhancing operational capacity, fostering community resilience, and promoting environmentally responsible practices. Abraxas Power, a leader in energy transition, focuses on decarbonizing hard-to-abate sectors and creating value in the global energy industry. Through strategic partnerships and extensive experience, Abraxas aims to further the energy transition by securing capital projects like the EVREC initiative. The project not only aligns with sustainable energy goals but also promises to stimulate economic growth, job creation, and infrastructure development in central Newfoundland.