Investor Relations - 08.07.2022

Establishment of Joint Venture between PPC and MOTOR OIL

Athens, July 8, 2022

 

Announcement – Regulated information

PPC S.A. (“PPC”), following the stock announcement dated 13.1.2022, and the signing of the relevant Memorandum of Understanding (MoU) with Motor Oil, announces the  signing of a “Shareholders’ Agreement”, which aims at the establishment of a new company  “Hellenic Hydrogen S.A.”,  in which Motor Oil’s participation will be 51% of the share capital and PPC’s 49%.

 

The “Shareholders’ Agreement” and the establishment of the new company are subject to the approval of the competent regulatory authorities, to which the transaction will be notified.

 

The new company will aim at the development of green hydrogen generation and storage projects in the country, thus facilitating Greece’s energy transition to Net Zero.

 

 

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