Helios Aragon and Government of Aragon sign Letter of Intent
Aragón Exterior (Government of Aragón) with address at Expo Zaragoza Empresarial, Avenida Ranillas 3, Floor 2, A, 50,018 Zaragoza, Spain (hereinafter referred to as “(Arex)”;
Helios Aragón Exploration, S.L, with address at Plaza Marqués de Salamanca 3-4, 28,006 Madrid, Spain (hereinafter referred to as “HAE”);
The Government of Aragón, firmly confident of the strategic situation of the Autonomous Community of Aragon in Europe as Hydrogen European Hub as well as Global Logistics Hub is committed to encourage and support the implementation of new international investment Projects lead by foreign that will contribute to the development the hydrogen ecosystem in Aragón and generation of employment in the energy sector.
“Helios Aragón Exploration, S.L” (“HAE”) is a hydrogen and helium exploration company focused on the Spanish province of Aragón. Established in 2018 in Spain, “HAE” owns gas exploration permits covering 89,000 hectares in Huesca with the aim of developing a hydrogen hub in Aragón. “HAE” has identified the existence of reserves oof natural occurring or “gold” hydrogen and possibly natural hydrogen in the Province of Huesca that could lead to the production of low-cost, low carbon hydrogen, boosting the Spanish hydrogen economy and accelerating the deployment of the hydrogen sector in Europe.
The Aragon Project lead by “HAE”” can contribute substantially to the Aragón government’s vision to be a major hydrogen hub in the planned Spanish, North African and European Hydrogen Infrastructure Network.
The Government of Aragon and “HAE” undertake the present Letter of Intentions (“LoI”), establishing the willingness to collaborate for the implementation of this new project in the Autonomous Community of Aragon, including the following clauses.
Aragon Exterior (Government of Aragon) and Helios Aragón Exploration, S.L, jointly refined to as “the Signatories” and individually as a “signatory”.
Agreement of Intentions
FIRST: The purpose of this ‘LoI” is to establish the lines of collaboration between the Government of Aragon and Helios Aragón Exploration, SL for the development of “HAE” s project in Aragón.
In addition, “HAE” envisages potential in extending the business plan from the-pure exploration/production of natural hydrogen/helium to the later utilization of any discovered subsurface reservoirs for storage of locally produced “green” hydrogen generated using either nearby hydro/wind electricity driven electrolysis or hydrogen extracted from waste processing on-site.
Hydrogen is an energy vector that can be successfully applied to many industries for and it is identified as a critical vector for decarbonizing industry in the EU region. The future demand for hydrogen is high. Helios Aragon seeks to provide access to natural, low carbon, hydrogen at competitive prices.
SECOND: The Government of Aragon supports “HAE” in order to seek for collaborations with international stakeholders and companies within the hydrogen global ecosystem in order to enhance the creation of hydrogen hub in Aragón, Spain as a gateway to the hydrogen industy in Europe.
The Project would take advantage of the local infrastructure and close proximity to the European Hydrogen Backbone (EHB), the Aragon hub would be well placed to capitalize on regional developments in the European hydrogen ecosystem. “HAE” commits to promote Aragon in Spain as prime location for the development of hydrogen projects in Europe.
THIRD: Following the European mandatory compliance of competitive competition regarding regional incentives, subsidies and aids available to support the development of new projects and the existing complement of the regional incentives (regulated in Law 50/1985, of 27th December) for the correction of interterritorial imbalances, the Government of Aragon advises “HAE” to explore applying for these aids.
The effectiveness of any aid of subsidy granted by the Government of Aragon will be according to the accreditation of the requirements needed to be able to benefit from this aid, the fulfilment of the conditions established in the Individual Resolution granting Regional Incentives and the available budget of the Government of Aragon.
FOURTH: “HAE” declares its intention to facilitate the creation of a hydrogen ecosystem in the region with many industries benefiting from low-cost and low carbon hydrogen as well as direct and indirect generation of employment in Aragon.
Done in two originals in the English language,
Zaragoza, 11 August 2021
For Aragon Exterior
Mr Ramón Tejedor
Manging Director Aragon Exterior Government of Aragón (DGA) Kingdom of Spain
For Helios Aragón Exploration, S.L
Mr Christhoper Atkinson
Chief Executive Officer Helios Aragón Exploration, S.L