Exolum has reached an agreement to acquire from Moda Midstream a 50% interest in Vopak Moda Houston (VMH), an ammonia storage, import and export terminal located in the Houston Ship Channel, the company announced this Wednesday.
This is the first foray into the US for the company formerly known as CLH, heir to the Spanish hydrocarbon distribution monopoly (Campsa), and is part of its international diversification strategy to "position itself as a leader in the management of infrastructure and decarbonized fuels for the coming decades".
The investment in VMH, the amount of which has not been published, will provide a platform for the development of Exolum in the United States and the acquisition of key competencies and know-how to implement innovative projects in Spain aligned with the energy transition focused on promoting fuels with low carbon emissions.
This acquisition allows Exolum to position itself in a key position within the low-carbon ammonia logistics infrastructure of the US Gulf Coast. The terminal is currently developing one of the most advanced projects in the world for the production and export of low-carbon ammonia with an annual capacity of 1.1 million tons per year, which will increase its storage capacity by 70,000 tons.
Ammonia is, according to experts, one of the liquids that can best facilitate the transport of green hydrogen, since its composition is made up of hydrogen molecules and its handling is much safer than that of that gas itself.
The CEO of Exolum, Jorge Lanza, pointed out that the group wants to be "a key player" in the development of the supply chains of new sustainable energy products, such as ammonia or green methanol, and this operation, the first of the company in the United States, will allow them to "continue strengthening their position in strategic ports and promoting the energy transition and decarbonization of mobility internationally."
For her part, Maria Ciliberti, president of Vopak for the United States and Canada, was "very happy" that Exolum has joined as a shareholder. “By pooling our knowledge, networks and experience we can further develop this strategic maritime terminal and infrastructure,” she said.
