FORT STOCKTON, TEXAS, Aug. 31, 2021 (GLOBE NEWSWIRE) -- MMEX Resources Corp. (OTCPK: MMEX), a development-stage company focusing on planned hydrogen and clean fuel projects with carbon capture, announced it has completed additional site acquisitions of 324 acres for its West Texas projects, bringing its total land ownership to 450 acres.
MMEX announced earlier this year its modified business plan moving MMEX to clean fuels and Hydrogen energy production.
Three projects on MMEX West Texas land assets
In an alliance with Polaris Engineering, it is 50% through the design and engineering of a 10,000 bpd clean fuels refinery (G87, ULSD and IMO 2020 compliant Fuel oil) with 95% less emissions than any existing unit. This will require 12MW of power.
MMEX announced on August 24, 2021 its MOU and FEED Study with Siemens Energy for its planned green hydrogen project to produce up to 50 tons per day green hydrogen via Siemens Silyzer 300 electrolyser technology. This will require up to 175MW of renewable power. The 60 tons per day Blue Hydrogen, backed by leading steam methane reformer technology and hydrogen liquefication, will require up to 30MW of power. MMEX plans to provide solar power to all three projects.
Land acquired allows for integration of three projects
MMEX has now completed acquisitions of additional acreage to site its two hydrogen projects and the one clean fuels project. This now provides 450 contiguous acres to house all three projects with carbon capture as required by two of the projects.
In addition, the company has under contract to purchase an additional 632 acres planned for development of its solar power complex. All three of its projects plan to be solar powered.
MMEX land assets also sit in the middle of prime West Texas logistics: railroad access to the Texas Pacifico Railroad corridor interconnecting to both the Texas Gulf Coast and the Mexico Western Ports for exports, and a highway interconnection readily available on Interstate 10, the "transcontinental" highway traveling thru eight states from coast to coast. Additionally, a pipeline transverses the new acreage to access the natural gas supply for the Blue H2 steam methane reformer technology.
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About MMEX Resources Corp.
MMEX Resources Corporation (MMEX) is a development stage company formed to engage in energy industry infrastructure projects. Leveraging its management and business relationships from the traditional energy sector, MMEX is currently engaged in developing planned projects to produce potentially hydrogen and clean fuel products combined with CO2 capture. MMEX is also engaged in the development of solar power for distribution to its planned projects. For more information about MMEX, visit www.mmexresources.com.
The following constitutes a "Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties, which could cause our actual results to differ materially from those described in the forward looking statements. These risks include but are not limited to the Company’s ability to continue as a going concern, our lack of revenues, general business conditions, the requirement to obtain significant financing to pursue our business plan, our history of operating losses and other risks detailed from time to time in the Company's SEC reports. In particular, readers should note MMEX undertakes no obligation to update forward-looking statements
