Fidelis New Energy Lauds Selection of ARCH2 as one of the National Hydrogen Hubs

HOUSTON, Oct. 13, 2023 /PRNewswire/ -- Fidelis New Energy, a global leader in independent carbon management infrastructure focused on hard to abate industries and biogenic CO2, commends the selection of the Appalachian Regional Clean Hydrogen Hub (ARCH2) as one of the seven awarded clean hydrogen hubs by the United States Government through the Bipartisan Infrastructure Investment and Jobs Act. The hub is expected to receive up to $925M in federal funding, with up to $6B in matching private investment, creating up to 20,000 jobs.

A major participant in the ARCH2 hub, Fidelis is creating multiple projects in West Virginia centered around the production and consumption of clean hydrogen. First, the Mountaineer GigaSystem™ a net-zero carbon hydrogen project consisting of four phases where each phase will over 500 metric tons per day ("MTPD") at an approximate capital cost of $2 billion per phase. Fidelis is also using its proprietary H2PowerCool technologies to create the Monarch Cloud Campus, a data center complex powered by clean hydrogen from Mountaineer. Finally, the firm will use its CO2PowerGrow technologies to support high impact industrial greenhouses using CO2 emissions and waste heat from Monarch and Mountaineer.

Bengt Jarlsjo, Co-Founder, President, and COO of Fidelis said, "The collaboration, commitment and investment of the members and stakeholders of the ARCH2 consortium under Batelle's leadership proposed a compelling proposition for a regional hydrogen hub with direct benefits to West Virginia, Appalachia and the United States. I am very pleased the Department of Energy, recognized the merits of ARCH2 and its ability to deliver practical, prompt and efficient commercial lift off of a hydrogen hub and the associated energy transition jobs in the region."

"We are glad to have closed on the carbon sequestration operating agreement with the state of West Virginia which provides unique access to pore space making West Virginia a first mover in CCS. As one of the largest producers of hydrogen in the ARCH2 Hub, we hope to continue our partnership with the state and help make the Appalachia region a leader in the hydrogen economy," said Pete Hollis, Senior Vice President and Global Head of CCUS of Fidelis.

Dan Shapiro, CEO and Co-Founder of Fidelis added, "Fidelis is extremely appreciative of all the parties that helped make this possible including Senators Joe Manchin and Shelley Moore Capito for their support for bipartisan Infrastructure Investment and Jobs Act that enabled the hydrogen hub. Additionally, Senator Manchin's authorship and support for the Inflation Reduction Act (IRA) was crucial for the regulatory certainty that ensures the economic viability of clean hydrogen projects. Further we would like to thank our Advisory Board Member Major General James "Jim" Hoyer, Governor Jim Justice and his administration, the West Virginia Economic Development Authority and the Mason County Economic Development for helping make Mason County, West Virginia the home of the Mountaineer GigaSystem and Monarch Cloud Campus."

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About Fidelis New Energy

Fidelis New Energy, LLC is an energy transition company driving decarbonization through investments in renewable fuels, low or negative carbon intensity products, and carbon capture and storage in Europe and the United States of America. Fidelis utilizes an "all of the above" energy philosophy with a focus on reducing carbon intensity by innovating new technologies through the integration of proven technologies.

Fidelis New Energy is headquartered in Houston, Texas with offices in Baton Rouge, Louisiana and Copenhagen, Denmark. Fidelis also has a portfolio of patent pending technologies providing climate benefits through the innovative integration of proven technologies. To learn more about Fidelis and its technologies, including FidelisH2®, H2PowerCool™, and CO2PowerGrow™ please visit http://www.fidelisnewenergy.com/

SOURCE Fidelis New Energy, LLC