WASHINGTON (dpa-AFX) - CF Industries Holdings Inc. (CF), a producer of
ammonia, and JERA Co., Inc. (JERA), an energy company in Japan, said that they
have executed a joint development agreement to explore the development of
greenfield low-carbon ammonia production capacity at CF Industries' Blue Point
Complex in Louisiana.

The agreement will guide JERA and CF Industries' evaluation of a joint venture
agreement to build an about 1.4 million metric ton capacity low-carbon ammonia
plant. JERA is contemplating a 48% ownership stake in the project as well as an
agreement to procure more than 500,000 metric tons of low-carbon ammonia
annually to meet demand for low-carbon fuels in Japan.

JERA and CF Industries aim to reach a final investment decision on the proposed
project within a year for commencing production in 2028.

JERA plans to replace coal with low-carbon clean ammonia in its existing thermal
coal power plants to reduce CO2 emissions. JERA is currently conducting the
world's first commercial-scale demonstration test of fuel ammonia substitution
(20% of heating value) at its Hekinan Thermal Power Station.



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