Aventura, Florida, Aug. 23, 2023 (GLOBE NEWSWIRE) -- BioPower Operations Corporation (OTC Pink: BOPO) d/b/a as HyFi Corp., today announced that as of August 5th, 2023 HyFi and its sister company WPP Energy, have executed a tri party Memorandum of Understanding with Vietnam stated owned entity Dong Do JSC. The MOU is titled “Comprehensive Cooperation of Investment and Development Strategy in Vietnam”. HyFi and WPP have been invited to create and arrange important outcomes in the developing nation of Vietnam. As such HyFi and WPP have been provided with an exclusive initial priority project list to develop renewable energy, infrastructure and other important projects consistent with the UN’s 17 SDG’s in the following provinces:
- Hà Nội, 2. Ninh Thuận, 3. Đà Nẵng, 4. Khánh Hoà, 5. Đồng Nai, 6. Hồ Chí Minh, 7. Bà Rịa - Vũng Tàu, 8. Cần Thơ, 9. Cà Mau
The value of the initial project list is estimated to be approximately $33B USD.
HyFi, and its sister company WPP, are pleased to express its strong support for the nation of Vietnam in developing its renewable energy and resource management infrastructure to meet the countries’ economic development goals and climate change undertakings.
HyFi and WPP will mobilize the necessary technology, arrange for the provision and financing of equipment and services. We will work closely with Dong Do JSC, a state-owned enterprise with construction capacity and project management expertise, expertise in process, permitting and regulatory approvals to develop highly reliable cost-effective solutions.
Vietnam announced at the 2021 United Nations Climate Change Conference (COP26) a target of net zero carbon emissions (GHG) by 2050. To align with this target, Vietnam is reviewing its Nationally Determined Contribution (NDC), a climate action plan to cut emissions and adapt to climate impacts and set out in Decree 06.
The Vietnam government has set a target to reduce at least 564 million tons of CO2 during the first phase of Decree 06, requiring key sectors and industries that discharge CO2 to reduce emissions. Decree 06 also requires manufacturers and companies operating in various sectors to apply measures to capture and to reduce C02, and/or to pay for C02 that exceeds the permitted quota.
The Vietnam government recognizes the potential for a ‘green industrial revolution’ to boost domestic economic growth, employment and the people’s standard of living. Much of the equipment required for these projects will, in due course, be built in Vietnam, making the country an Asian powerhouse for renewable technology.
Speaking for Dong Do JSC, Chairman Phan Dinh Phuc commented as follows “DD JSC is committed to making every effort to contribute to the sustainable conservation of the global environment. With permission on behalf of the Government of Vietnam, Dong Do JSC will invite WPP Energy & HyFi Corp to Vietnam as soon as possible (tentative for mid-September 2023) for the common prosperity of the World.”
Senior Advisor Mai Xuan Cua added “We will complete the legal procedures in the most reliable way to ensure our cooperative role in Vietnam, and we all here looking forward to meet and work together with you, together to realize all our projects, I believe that the solidarity of all of us will protect the earth forever clean and green."
Speaking for HyFi & WPP, Troy MacDonald, commented as follows: “We have been building a relationship with the nation of Vietnam for about 5 years now through our local authorized representatives Travavina. We have come to appreciate that Vietnam is a nation with tremendous potential, poised for a breakout in 2024 and beyond. It is our great honor at HyFi and WPP Energy to do our part and play a role in this breakout as it unfolds. We will work closely with the Dong Do JSC, various Vietnam governments, OEM’s, EPC’s, partner investment banks and infrastructure funds to address the deliverables required for each project on the initial project list. We are very enthusiastic as we prepare to make the transition into the deliverables stage, and we expect to have a greatly expanded on-the-ground presence in Vietnam by year end 2023. We intend to bring significant manufacturing and new jobs to Vietnam to support the equipment deliverables related to the project list.”
About BioPower Operations Corporation/ HyFi Corp.
BioPower Operations Corporation (OTC Pink: BOPO) is focused on the implementation of sustainable projects and other projects consistent with the UN’s 17 SDG’s. HyFi’s core competency is project funding solutions, project technology deliverables and creating OEM, EPC and O&M relationships. HyFi also offers other consultancy services in the green energy, environmental and infrastructure market.
HyFi has rapidly evolved into a company with a strong focus on sovereign level engagements, particularly to take a leading role in assisting developing nations to reach their goals by providing both turnkey financial solutions through partner financial institution syndication and by also building consortiums of OEM’s and EPC’s to satisfy project deliverables for initiatives of national importance.
For more information see www.HyFi-corp.com
About WPP Energy GmbH
Headquartered in Geneva Switzerland, WPP Energy GmbH are leaders in renewable energy innovation since 2009.
WPP is a repository for disruptive green energy and environmental technologies which we build or intend to build, own, operate and maintain. WPP also licenses technology and enters strategic joint venture partnerships for the purpose of accelerating the deployment of important environmentally friendly technologies for the benefit of the entire world.
For more information see https://wppenergy.com/
About Dong Do JSC
Dong Do JSC is a Vietnam Government State owned group of companies, with construction capacity level 1 and experience in project management consultancy and expertise in project procedures, and the required permits and approvals needed from various state agencies.
Dong Do JSC’s formation has been approved by the Federal Government and the executed MOUs of Comprehensive Cooperation for Investment and Development in Vietnam of DD JSC and WPP Energy & HyFi & Travavina.
Approving agencies include:
- Vietnamese Government
- Ministry of Defense
- The Ministry of Public Security
- Ministry of Foreign Affairs
- The State bank of Vietnam.
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements that are subject to many risks and uncertainties. The forward-looking statements are not historical facts and constitute forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. Reliance should not be placed on forward-looking statements because they involve known and unknown risks, uncertainties, and other factors, which may cause actual results, performance, or achievements to differ materially from those expressed or implied. The words “will,” “contemplate,” “believe,” “expect,” “intend,” “may,” “can,” “could,” “project” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These forward-looking statements are not guarantees of the future as there are a number of meaningful factors that could cause the Company’s actual results to vary materially from those indicated by such forward-looking statements. These statements are based on certain assumptions made based on experience, expected future developments and other factors the Company believes are appropriate in the circumstances. Factors which could cause actual results to differ from expectations, many of which are beyond the Company’s control are discussed in the Company’s filings with the Securities and Exchange Commission (the “Commission”) including those identified under the section captioned “Risk Factors” in the Company’s Registration Statement on Form 10-K, filed with the Commission on June 16,2023, and as updated in subsequent filings with the Commission. The Company disclaims any obligation to update the information contained in these forward-looking statements whether as a result of new information, future events or otherwise.
Media Contact
Troy MacDonald, CEO
+1-786-923-0272
Web: hyfi-corp.com
