Global Energy Storage (GES) plans to develop an industrial site at Rotterdam to create storage and production capacity for a range of low-carbon fuels and chemicals.
GES is to make its first major investment at Europoort in the Port of Rotterdam, buying an interest in part of the assets of the Stargate Terminal from Gunvor Group.
Spanning more than 20 hectares at the heart of Europe’s largest port, the site includes a significant waterfront with deep water access, brownfield development opportunities and potential greenfield development sites.
The energy storage developer also noted the “world-class connectivity to inland waterways” and pipeline infrastructure at the port.
GES’ plans include the development of a new multi-purpose seagoing jetty, as well as infrastructure for biofuel, renewable fuel and gas storage capacity, gas-to-chemicals production and both green and blue hydrogen.
The deal has been formally approved by the Port of Rotterdam Authority, and Gunvor will remain a long-term partner of GES, the companies said.
Gunvor also recently announced that its Rotterdam facility will supply to Dow cracker-ready feedstock, which will be used to produce circular plastics.
The port is already the site of several large-scale CCS and hydrogen projects, at varying stages of development.
GES was formed in May 2021, with the aim of investing around $250 million to create first-class energy storage assets at brown and greenfield assets in Europe and Asia over the next five years.
Backed by private equity group Bluewater, GES was set up by the management team of Global Petro Storage (GPS), an operator and developer of energy and chemical assets.
Its focus is on three streams of energy storage: hydrocarbons including electrification and LNG, LPG, ethane and ammonia; biofuels and CO2 feedstock; and new energies such as green/blue hydrogen and other renewable storage solutions.
Commenting on the announcement, GES CEO Peter Vucins said: “This project aims to become one of the largest low-carbon developments at a world-class industrial hub, with the potential to significantly reduce the carbon footprint of future business in the Port of Rotterdam.
“Alongside a new jetty that we aim to develop and low-carbon commodity infrastructure, we are also looking to become part of the logistics chain needed to import blue and green hydrogen. I hope this gives a glimpse of the size of our ambitions.”
The company’s executive chairman, Eric Arnold, added that: “This is the first of what we hope will be many deals.”
He said the company would now look to develop an international network of storage and logistics infrastructure, with “rapid expansion” forecast for 2021-22.