United States — Parades Energy is delighted to declare the formalization of a joint venture contract with Alkam Energy (a privately-held firm), This partnership aims to establish centers for the conversion of waste into ammonia, utilizing the combined technology and products of Parades and ALkam.
Wei Poon, the CEO of Parades Energy , expresses enthusiasm about the new collaboration with Alkam Energy. This alliance will enable the conversion of waste materials into hydrogen and electricity essential for the process of synthesizing ammonia. Consequently, the requirement for an electrolyzer to generate hydrogen is eliminated, leading to a substantial reduction in the overall energy demand for the process.
The joint venture will be co-owned on a 50/50 basis by Alkam Energy and Parades Inc., operating under its own management team. It’s noteworthy that Alkam’s technology is already operational across more than 10 locations in Europe , Middle east and Asia . The hydrogen and electricity produced by Alkam units will be directly supplied to Parades ammonia synthesis units.
Wee hui Hock CEO of Alkam Energy highlights the advantageous nature of the collaboration with Parades Energy . This partnership offers a means to convert waste materials into a valuable product without contributing to the emission of greenhouse gases.
This announcement is issued on behalf of the Board of Directors by Wei Poon , the Chief Executive Officer of Parades Energy