African Discovery Group Partners with MPS Infrastructure for a Greener Future

In a significant move towards sustainability, African Discovery Group (AFDG) has announced its intention to merge with MPS Infrastructure Inc. The agreement, formalized through a letter of intent, signals a promising shift towards creating a company focused on sustainable energy and water solutions designed to meet the demands of the modern world. The transaction is projected to conclude in the fourth quarter of 2024, pending shareholder approvals and standard due diligence procedures.

The Vision Behind the Merger

The merger lays the groundwork for a new venture aimed at supplying green hydrogen, a crucial element in the global shift towards renewable energy sources. The facility set to be developed at Abu Qir Fertilizer's plant in Alexandria, Egypt, will feature a 125 MW electrolysis system capable of generating 50 metric tons of green hydrogen and 400 metric tons of medical-grade oxygen daily. This initiative is aligned with global efforts to decrease carbon dioxide emissions by replacing traditional fossil-fuel-derived hydrogen with cleaner alternatives.

AFDG Chairman Alan Kessler expressed enthusiasm for the partnership, acknowledging the diligent efforts of MPS and its leadership. Kessler's confidence in the project stems from MPS's previous successes and a shared vision for the future of energy production. Under the stewardship of MPS's executive chairman, Bjorn Q Aaserod, AFDG is expected to navigate this transition seamlessly.

Structural Changes and Future Direction

As AFDG and MPS prepare for their merger, several critical changes are anticipated. Following the completion of the transaction, Alan Kessler will step down as CEO but will remain involved as a board member. This leadership transition is viewed as a strategic move to ensure stability while embracing innovation, with Aaserod continuing in his role as executive chairman.

Additionally, the merged entity is expected to rebrand, adopting a new name that reflects its commitment to transforming the energy sector for the coming century. AFDG aims to proactively address the challenges presented by climate change and meet the increasing demand for sustainable resources.

About the Organizations

African Discovery Group operates from Delaware, focusing on enhancing various sectors across the African continent, including agriculture, energy, and finance. The company prioritizes environmental, social, and governance (ESG) principles in all its endeavors, setting a high standard for responsible business conduct.

On the other hand, MPS Infrastructure specializes in developing blueprints for sustainable energy projects, particularly those leveraging renewable energy sources like solar, wind, and hydro. Their commitment to building a clean energy future has positioned them as a key player in the green energy landscape.

Conclusion

The forthcoming business combination of AFDG and MPS Infrastructure represents a pivotal step towards a sustainable future. As they embark on this journey, the integration of green hydrogen production into their business model illustrates their commitment to addressing urgent environmental challenges and fostering innovation in energy solutions. With such collaborations on the rise, the landscape of energy production is set for a significant evolution in the near future.