Exolum to acquire share in ammonia storage terminal
Exolum has entered into a definitive agreement to acquire a 50% interest in Vopak Moda Houston, an ammonia storage, import and export terminal located on the Houston Ship Channel, from Moda Midstream.
Vopak Moda Houston (VMH) is a joint venture that is 50% owned by Moda Midstream, an EnCap Flatrock Midstream portfolio company, while the remaining 50% interest is owned by Vopak Terminals North America.
The acquisition of Moda’s interest in VMH will be another step forward in Exolum’s diversification strategy and will position Exolum as a leading manager of infrastructure and decarbonising fuel in the decades to come.
The investment in VMH will serve as a platform for Exolum’s development in the US and the acquisition of key competences in the development of the logistics infrastructures required by the energy transition in order to boost low-carbon fuels.
Exolum’s CEO, Jorge Lanza, said: “Exolum strives to become a key player in the development of supply chains for new sustainable energy products, such as ammonia and green methanol. This operation, our first in the US will enable us to continue strengthening our position in strategic ports and to promote the energy transition and the decarbonisation of mobility at an international level.”
Moda Midstream President & CEO Jonathan Ackerman added: “I am proud of the collaboration and hard work among the Moda, Vopak and Vopak Moda Houston teams as we transformed a greenfield site into a brand-new liquids terminal in the Port of Houston. I am excited to see how Vopak Moda Houston will build upon its solid foundation to expand and pursue growth opportunities with global storage leader Exolum as its new partner.”
Maria Ciliberti, Vopak president US and Canada, said: “I am very pleased with Exolum entering as co- shareholder. By pooling our knowledge, network and experience we can further develop this strategically located terminal and marine infrastructure. The worldwide movement to decarbonise industry and transportation will drive strong global demand for low-carbon ammonia.”