Apex Clean Energy LLC, funds managed by the Infrastructure and Power strategy of Ares Management Corporation, EPIC Midstream Holdings LP and the Port of Corpus Christi Authority announced that they have entered into a nonbinding memorandum of understanding to explore the development of a leading green hydrogen production, storage, transportation, and export operation, including a newly constructed dedicated pipeline and a green fuels hub to be located at the Port of Corpus Christi on the Texas Gulf Coast.As contemplated by the parties, the project would produce green hydrogen and other derivative green fuels in volumes not yet seen in the United States, with additional scale possible by decade’s end. Apex expects to utilize its industry-leading portfolio of wind and solar projects currently in development in Texas to power facilities producing green hydrogen and derivative green fuels products. In addition, EPIC will consider leveraging its pipeline construction and operating expertise to accelerate the development of a new, dedicated green fuels pipeline. The project would also endeavor to leverage and develop existing and new storage, processing, and export infrastructure sited on real estate owned by PCCA.Ares and PCCA previously executed a separate nonbinding memorandum of understanding in May 2021, with the intention of developing renewable energy infrastructure on PCCA-owned property to support the production of green hydrogen and optionality to provide renewable power directly to the port and its customers. This MOU builds on that effort, specifically with respect to the development of green fuels projects.