Renovigo Chemicals Signs $1.2 Billion LOI with Crucible Energy for Up to 150 MW Renewable PPA

Renovigo Chemicals, a leading innovator in sustainable electrochemical manufacturing, today announced the signing of a $1.2 Billion Letter of Intent (LOI) with Crucible Energy, a pioneer in advanced grid infrastructure and renewable energy transmission. The LOI outlines plans for a definitive Power Purchase Agreement (PPA) to supply up to 150 MW of 100% renewable energy to Renovigo‘s operations, featuring a resilience guarantee, at a competitive rate of $0.06 per kWh over a 15-year term.

“Renewable energy transmission capabilities align with our sustainability commitments while offering competitive advantages in cost and resilience,” said Jeremiah Piper, CEO of Renovigo Chemicals. “A successful partnership between our companies has the potential to expand into a long-term, mutually beneficial relationship spanning multiple locations globally.”

Crucible Energy recently emerged from stealth after developing their self-healing, self-optimizing superconducting power & data network architecture over the past decade. The system can move gigawatts of power with zero loss, regardless of distance. This allows stranded renewables waiting 4 to 10 years to connect to the AC grid to “skip the line” and connect directly to Crucible Energy‘s superconducting network in as little as 6 to 9 months.

The PPA will incorporate resilience guarantees, ensuring uninterrupted supply through advanced storage and mesh topology, even during extreme weather events – such as hurricanes and tropical storms that routinely interrupt power in the Gulf Coast for days or even weeks at a time.

“This LOI underscores Crucible Energy‘s role in bridging massive renewable resources with industrial demand, ten times faster than AC grid connection queues,” said Samuel Goff, Founder and CEO of Crucible Energy. “We‘re excited to partner with Renovigo to provide 100% renewable power at a competitive rate – and no additional cost for included resilience features. We‘re bringing Tier IV data center resilience to power systems, starting with visionary companies like Renovigo.”

The parties will now proceed with due diligence, and contract negotiations, targeting a binding PPA execution within the next 12 months. This deal could expand to include additional Renovigo facilities worldwide, further amplifying the impact of affordable, resilient, sustainable energy powering electrochemical manufacturing.