Tallgrass Energy Acquires 75 Percent Membership Interest in Escalante H2 Power

Escalante Power Project to Convert Coal-fired Power Plant to Clean Hydrogen

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LEAWOOD, Kan.--(BUSINESS WIRE)-- Tallgrass Energy, LP announced today that it has closed on the purchase of a 75 percent membership interest in Escalante H2 Power (EH2 Power). EH2 Power is developing a first-of-its-kind hydrogen-to-power project at Tri-State Generation and Transmission Association, Inc.’s Escalante Generating Station near Prewitt, New Mexico, by converting the retired coal-fired power plant into a clean hydrogen-fired power generating facility.

“Our acquisition of a 75 percent membership interest in EH2 Power further advances our overall hydrogen development and clean energy infrastructure strategy,” said Tallgrass CEO William R. Moler. “We believe the Escalante Station is uniquely positioned to be a proving ground for hydrogen-to-power in the U.S. We look forward to working with Tri-State, Newpoint, the local community, and stakeholders throughout New Mexico on this exciting project.”

Tallgrass acquired its membership interest in EH2 Power from Denver-based Brooks Energy Company. The ownership of Newpoint Gas, LLC will retain a 25 percent membership interest in EH2 Power and continue to partner with Tallgrass in EH2’s development of the hydrogen conversion project at the Escalante Station.

"This marks another step forward for New Mexico’s push into a thriving clean energy future, one that builds new opportunities for communities transitioning toward new horizons," said Gov. Michelle Lujan Grisham. "New Mexico has what it takes to become an international hydrogen hub, furthering our decarbonization and climate efforts while creating quality jobs for New Mexicans."

“The EH2 Power team has brought tremendous vision and drive to the conversion project, and the State of New Mexico’s leadership in clean hydrogen innovation is exciting for development at Escalante and across the state,” said Dwayne Phillips, Vice President - Hydrogen for Tallgrass. “We are very appreciative of the Brooks Energy team, and we look forward to working with our partners at Newpoint to build on the successes they have achieved with Brooks.”

“We look forward to working with the Tallgrass team on transforming Escalante into a clean hydrogen hub,” said Wiley Rhodes, CEO of Newpoint Gas, LLC. “Building on Newpoint’s work, Tallgrass brings strong technical expertise to the project. Of equal importance, Newpoint and Tallgrass share the goal of advancing next-generation hydrogen technologies and offering critical decarbonized energy solutions through the Escalante Station.”

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Cautionary Note Concerning Forward-Looking Statements

Disclosures in this press release contain forward-looking statements. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that management expects, believes or anticipates will or may occur in the future are forward-looking statements. Without limiting the generality of the foregoing, forward-looking statements contained in this press release specifically include the successful conversion of the Escalante Station into a clean hydrogen-fired power generating facility and a hydrogen hub; the expected benefits of the conversion and from operating the Escalante Station as a proving ground for hydrogen-to-power technology; the timing of the completion of the conversion project; and the expected benefits from emerging energy technologies involving hydrogen and other decarbonized energy. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of Tallgrass, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements, and other important factors that could cause actual results to differ materially from those projected, including those set forth in reports and financial statements made available by Tallgrass. Any forward-looking statement applies only as of the date on which such statement is made, and Tallgrass does not intend to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law.

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Source: Tallgrass Energy, LP