CF Industries And POSCO Evaluating Joint U.S.-Based Clean Ammonia Project And Long-Term Clean Ammonia Offtake Agreement Into South Korea
Portfolio Pulse from Benzinga Newsdesk
CF Industries and POSCO are considering a joint U.S.-based clean ammonia project and a long-term clean ammonia offtake agreement into South Korea. If the project proceeds, POSCO plans to import low-carbon clean ammonia from the facility to support decarbonization of its own and third-party coal-based power generation facilities. POSCO also plans to convert low-carbon clean ammonia into hydrogen for use in gas-based power plants and in the steel-making process.
September 14, 2023 | 1:42 pm
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POSITIVE IMPACT
CF Industries is considering a joint clean ammonia project with POSCO. If the project proceeds, it could potentially increase CF Industries' revenues and market presence.
The potential joint project with POSCO could open up a new revenue stream for CF Industries and increase its market presence. The project aligns with the global trend towards clean energy and decarbonization, which could positively impact CF Industries' stock price in the short term.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100
POSITIVE IMPACT
The South Korea ETF (EWY) could be indirectly impacted by POSCO's plans to import low-carbon clean ammonia for decarbonization efforts. This could potentially boost the performance of the ETF, which includes POSCO as one of its holdings.
POSCO's plans to import low-carbon clean ammonia for decarbonization could potentially boost its stock price, which could in turn positively impact the performance of the South Korea ETF (EWY), as POSCO is one of its holdings.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50