Wolf­tank Group signs MOU with Kuwait Petro­le­um Italia

Wolf­tank Group streng­t­hens its acti­vi­ties in the field of LNG and hydrogen.

Wolf­tank Group, a leading expert in envi­ron­men­tal tech­no­lo­gy and full-service pro­vi­der for filling sta­ti­ons, plans to expand its active role in the imple­men­ta­ti­on of climate-friend­ly (rene­wa­ble) natural gas and hydro­gen solu­ti­ons. In the near future, the Group will initia­te nego­tia­ti­ons with Kuwait Petro­le­um Italia S.p.A., which manages the Euro­pean busi­ness out of Italy with more than 3,000 service sta­ti­ons under the brand “Q8”. Kuwait Petro­le­um Italia plans to invest in rene­wa­ble energy carrier such as lique­fied natural gas (LNG) and hydro­gen — in each case pri­ma­ri­ly for com­mer­cial vehi­cles and ships — with immedia­te effect.

In this context, the Group’s Italian sub­si­dia­ry, Wolf­tank DGM S.r.l., and Kuwait Petro­le­um Italia have signed a Memo­ran­dum of Under­stan­ding. The common objec­ti­ve is to explore the oppor­tu­ni­ty to enter into spe­ci­fic project con­tracts for the con­struc­tion of LNG and hydro­gen refu­e­ling faci­li­ties, under which Kuwait Petro­le­um Italia would be able to rely on the long-stan­ding exper­ti­se of the Wolf­tank Group. As part of these nego­tia­ti­ons, the two groups will explore the pos­si­bi­li­ty of using or setting up a joint venture company. As a first step, the Wolf­tank Group will the­re­fo­re eva­lua­te the pos­si­bi­li­ties of a pro­por­tio­na­te finan­cing for this poten­ti­al joint venture.

“I am excited about this poten­ti­al coope­ra­ti­on with Kuwait Petro­le­um, which repres­ents a step towards a greener future. We are con­vin­ced that hydro­gen and methane from rene­wa­ble sources will play an incre­a­singly important role as climate-neutral energy car­ri­ers. Our group has built up many years of exper­ti­se in this area throughout Europe and world­wi­de and can actively support the expan­si­on of the Euro­pean filling station infra­st­ruc­tu­re towards sus­tainab­le refu­e­ling,” says Peter Werth, CEO of the Wolf­tank Group.

With the intro­duc­tion of (bio)LNG and hydro­gen as green and rene­wa­ble energy car­ri­ers, the decar­bo­niz­a­ti­on of trans­port is direct­ly achie­ved. The market for LNG and hydro­gen refu­e­ling sta­ti­ons in Europe should the­re­fo­re con­ti­nue to grow stron­gly, with the asso­cia­ted need for pro­duc­tion and logistics infra­st­ruc­tu­re. Key com­pe­ten­ci­es for this remain the storage of fuels at cryo­ge­nic tem­pe­ra­tures and high pres­su­res, and the manage­ment of process soft­ware for com­pres­si­on, tem­pe­ra­tu­re control and dis­pen­sers. It is espe­cial­ly in these areas that the Wolf­tank Group has key competencies.

About Kuwait Petro­le­um Italia S.p.A.:

Kuwait Petro­le­um Italia S.p.A. ope­ra­tes in the field of fuel dis­tri­bu­ti­on and sus­tainab­le mobi­li­ty and aims to make a signi­fi­cant con­tri­bu­ti­on to the energy tran­si­ti­on by favo­ring the use of liquid (bio)methane (LNG), com­pres­sed methane (CNG), and hydro­gen in the trans­port sector. The company is part of Kuwait Petro­le­um Inter­na­tio­nal and has been dis­tri­bu­ting its pro­ducts in Europe since 1984 under the main brand Q8, through a fuel dis­tri­bu­ti­on network of over 3,000 service sta­ti­ons, direct sales of lub­ri­cants, and marine and avia­ti­on fuels.

About Wolf­tank-Adisa Holding AG:

Wolf­tank-Adisa Holding AG is the parent company of an inter­na­tio­nal group of com­pa­nies focu­sing on the turnkey con­struc­tion of modular hydro­gen and LNG fuel­ling faci­li­ties, the dis­mant­ling of tra­di­tio­nal fuel­ling sta­ti­ons with appro­pria­te soil reme­dia­ti­on (envi­ron­men­tal pro­tec­tion ser­vices for pol­lu­t­ed soils, faci­li­ties and waters), and the reme­dia­ti­on and moni­to­ring of (large-scale) fuel­ling facilities.

The share of Wolf­tank-Adisa Holding AG (WKN: A2PBHR; ISIN: AT0000A25NJ6) is listed in the direct market plus segment of Vienna Stock Exchan­ge and traded (open market) on Xetra, Quotrix, the Frank­furt, Munich and Düs­sel­dorf stock exchanges.

Here you can find the cor­po­ra­te news as download:

 

Note: All requi­re­ments of the Aus­tri­an Stock Exchan­ge Act regar­ding the requi­re­ment of a formal admis­si­on of finan­cial instru­ments for trading and issuer obli­ga­ti­ons on a regu­la­ted market for finan­cial instru­ments traded on the Third Market do not apply, but in par­ti­cu­lar the requi­re­ments set out in Art. 17 (Publi­ca­ti­on of Insi­ders, Con­tract par­ti­ci­pa­ti­on “direct market plus” | Decem­ber 2018), Art. 18 (Insider Lists) and Art. 19 (Direc­tors dealing) of the Market Abuse Ordi­nan­ce (VO (EU) No. 596/2014) in con­nec­tion with the obli­ga­ti­ons laid down in the respec­ti­ve natio­nal legal rules pur­suant to the Stock Exchan­ge Act and the pro­hi­bi­ti­ons of Art. 14 (Insider Trading) and Art. 15 (Market Mani­pu­la­ti­on) of the Market Abuse Ordi­nan­ce (VO (EU) No. 596/2014) in con­nec­tion with the respec­ti­ve natio­nal legal rules pur­suant to the Stock Exchan­ge Act do apply.

About Wolftank Group

Wolftank-Adisa Holding AG is the parent company of an international group of companies focusing on the turnkey construction of modular hydrogen and LNG refuelling facilities, environmental protection services for polluted soils, facilities and waters, refurbishment and monitoring of (large) tank facilities as well as full-service engineering services for fuel supply facilities. The company is active worldwide and has various patented application technologies.

Note: All requirements of the Austrian Stock Exchange Act regarding the requirement of a formal admission of financial instruments for trading and issuer obligations on a regulated market for financial instruments traded on the Third Market do not apply, but in particular the requirements set out in Art. 17 (Publication of Insiders, Contract participation “direct market plus” | December 2018), Art. 18 (Insider Lists) and Art. 19 (Directors dealing) of the Market Abuse Ordinance (VO (EU) No. 596/2014) in connection with the obligations laid down in the respective national legal rules pursuant to the Stock Exchange Act and the prohibitions of Art. 14 (Insider Trading) and Art. 15 (Market Manipulation) of the Market Abuse Ordinance (VO (EU) No. 596/2014) in connection with the respective national legal rules pursuant to the Stock Exchange Act do apply.

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