Company News: IP3 and ZE PAK announce agreement

IP3 Corporation (IP3) announced its recent agreement with Zespół Elektrowni Pątnów-Adamów-Konin SA (ZE PAK) power plant complex. The joint effort will result in the development of a plan for the fast and effective introduction of commercialized nuclear power to Poland. IP3 will be ZE PAK’s main advisor in the process.

ZE PAK is currently involved in various initiatives associated with nuclear technologies which can offer clean and affordable energy for Poland. There is also a plan of using nuclear power for the production of hydrogen to improve various branches of the economy.

This announcement comes with the exciting addition of Georgette Mosbacher, a former U.S. Ambassador to Poland, to the IP3 team and management board.

“Nuclear power will play the key role in the global energy mix. We want the highly industrialized countries to be able to tap on the existing technologies and to effectively pursue the climatic goals set for 2040,” said Michael Hewitt, Co-Founder and CEO of IP3. “The plan, which will be among others implemented by the private sector, will enable Poland to successfully enter the demanding market and migrate to hydrogen and nuclear technologies.”

“Nuclear technologies are the key element which can offer Poland, as well as the remaining member countries of the Three Seas Initiative, a sufficient volume of clean energy. Poland’s long-term energy security also requires the presence of the private sector in this sphere, along with a plan for supporting innovation in the field of nuclear power systems,” said Amb. Georgette Mosbacher.

Mr. Zygmunt Solorz, one of the biggest and most important private entrepreneurs in Poland, is the majority shareholder of ZE PAK. “Poland, its inhabitants and economy need clean and cheap energy, and this can be provided in a short time with the use of nuclear technologies. Nuclear power projects, regardless of whether they are planned in Poland or abroad, must deal with complex regulatory issues and political circumstances. That is why we have turned to IP3, a renowned American consulting firm, for assistance in the project. We count on the cooperation to help us arrive at the right decisions in the areas in which we have no expertise. I am glad that ZE PAK will be cooperating with IP3 and that our project will be supported by Georgette Mosbacher,” said Zygmunt Solorz.

Last year ZE PAK announced that it would end the production of electricity from coal by 2030. “It is the most ambitious and the most concrete of the de-carbonization declarations which have been made by Polish power engineering companies. ZE PAK is already developing projects related to the production of clean and green energy, such as a hydrogen economy, wind farms or the recently completed largest solar farm in Poland” – said Piotr Woźny, the CEO of ZE PAK.

About ZE PAK
Zespół Elektrowni Pątnów – Adamów – Konin SA (ZE PAK) is Poland’s second-largest producer of electricity from brown coal, involved for decades in the production of electricity from lignite mined in the surrounding open-pit mines. Last year, ZE PAK announced its exit from coal-fired power generation by 2030. Since 2012 the company has been listed on the Warsaw Stock Exchange.

About Zygmunt Solorz
Zygmunt Solorz is one of the largest private investors in Poland, with nearly 30 years of business experience in several areas of the economy. He is recognized as one of the most reputable and successful entrepreneurs who built from scratch Poland’s largest private enterprise based on Polish capital.

Top achievement of Mr. Solorz’s businesses is building the biggest Polish private company – Polsat Plus Group. Today, Cyfrowy Polsat S.A., Telewizja Polsat Sp. z o.o. (of which Zygmunt Solorz is also the founder), Polkomtel Sp. z o.o. (Plus mobile network operator), Netia S.A. and Grupa Interia form the largest media and telecommunications group in Poland and the region.

Zygmunt Solorz focuses his activities on media and telecommunication, but the area of his investment activities also includes companies representing sectors like electric energy production (ZE PAK S.A.), finance and banking (Plus Bank S.A.), real estate (Port Praski Sp. z o.o.), as well as Poland’s largest private jet airline (Jet Story). In 2019, Mr. Solorz set up the “Clean Poland Programme” Society. This is one of the pillars of his vision to make the environment in Poland better, especially to improve the air quality.

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