World Energy GH2 and Vortex Energy Corp Announce Memorandum of Understanding to Explore Hydrogen and Green Energy Storage Solutions in Newfoundland & Labrador

Vortex and World Energy GH2 to collaborate, combining their collective expertise to actively pursue sustainable energy solutions in Newfoundland & Labrador

/EIN News/ -- VANCOUVER, British Columbia, May 13, 2024 (GLOBE NEWSWIRE) -- Vortex Energy Corp. (CSE: VRTX | OTC: VTECF | FRA: AA3) ("Vortex” or the "Company") is pleased to announce that World Energy GH2 (“World Energy”) and Vortex have agreed, by way of a memorandum of understanding (“MoU”), to explore green energy cavern storage solutions in Newfoundland and Labrador. The MOU was signed in Rotterdam, Netherlands at the Canadian Pavilion during the World Hydrogen Conference.

Recognizing the immense potential of Newfoundland and Labrador as a hub for renewable energy development, World Energy and Vortex have agreed to leverage their collective expertise, resources, and technologies in the pursuit of sustainable energy storage solutions.

Paul Sparkes, CEO of Vortex Energy Corp said, “This MOU marks a significant step towards meeting our shared goal of bolstering the province's green energy economy and ensuring long-term energy security. We are extremely excited about the next steps.”

Both companies are committed to driving innovation and fostering the development of the infrastructure necessary for the widespread adoption of green energy solutions in Newfoundland and Labrador. Through collaborative research, development, and deployment initiatives, World Energy GH2 and Vortex Energy Corp intend to work together to study and explore scalable and efficient storage solutions.

Sean Leet, CEO of World Energy GH2, commented, “We look forward to working with Vortex Energy in the development of the Green Hydrogen industry in Newfoundland and Labrador. There are many opportunities for collaboration as the development of energy storage is further evaluated. Vortex has been a proactive partner and we are pleased to be working with them in our project area.”

About World Energy GH2

World Energy GH2 is a Newfoundland and Labrador-based renewable energy partnership affiliated with World Energy LLC, one of the world's largest producers of green fuels. Project Nujio'qonik is a consortium of partners advancing a cost effective, safety-focused green hydrogen/ammonia production facility on the west coast of Newfoundland and Labrador, Canada. Project Nujio'qonik aims to be Canada's first commercial green hydrogen/ammonia producer created from 4+ Gigawatts of wind energy in one of the world's best wind resource regions. Project Nujio'qonik's partners are CFFI Ventures, Columbus Capital, World Energy LLC, Horizon Maritime, and SK ecoplant. World Energy GH2 is committed to Truth and Reconciliation Call to Action 92 and is working to ensure that Indigenous communities gain long-term, sustainable benefits from Project Nujio’qonik. As an affirmation of this commitment, World Energy GH2 has signed an MOU with Qalipu First Nation and is incorporating a range of capacity building activities designed to leave a legacy of prosperity and environmental excellence. https://worldenergygh2.com/

About Vortex Energy Corp.

Vortex Energy Corp. is an exploration stage company engaged principally in the acquisition, exploration, and development of mineral properties in North America. The company is currently advancing its Robinson River Salt Project comprised of a total of 942 claims covering 23,500 hectares located approximately 35 linear kms south of the town of Stephenville in the Province of Newfoundland & Labrador. The Robinson River Salt Project is prospective for both salt and hydrogen salt cavern storage. The company is actively evaluating technologies to efficiently store hydrogen or energy in salt caverns. Vortex Energy Corp. also holds the Fire Eye Project, which is located in the Wollaston Domain of northern Saskatchewan, Canada.

On Behalf of the Board of Directors
Paul Sparkes
Chief Executive Officer, Director
+1 (778) 819-0164
info@vortexenergycorp.com

Cautionary Note Regarding Forward-Looking Statements

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company’s current beliefs or assumptions as to the outcome and timing of such future events. In particular, this press release contains forward-looking information relating to, among other things, the MOU and the work that may be undertaken thereunder, as well as the intended and expected outcomes of the collaboration with World Energy.

Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information, including, in respect of the forward-looking information included in this press release. Although forward-looking information is based on the reasonable assumptions of the Company’s management, there can be no assurance that any forward-looking information will prove to be accurate. Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include, among other things, the risk that intended collaboration with World Energy does not proceed in the manner currently contemplated or at all. The forward-looking information contained in this release is made as of the date hereof, and the Company not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

The Canadian Securities Exchange (CSE) has not reviewed, approved, or disapproved the contents of this ‎press release.‎