HyOrc and Acetech Enter Green Methanol Agreement
HyOrc Corporation (OTC: ASPZ), recognized for its advancements in hydrogen combustion and waste-to-fuel technology, has recently partnered with Acetech Metals Limited to establish a facility aimed at producing green methanol from municipal waste. This collaboration signifies a major progress in HyOrc's efforts to spearhead sustainable energy solutions.
MOU Overview and Project Details
The two companies have executed a Memorandum of Understanding (MOU), indicating a strong commitment to deploy a Municipal Waste: Refuse-Derived Fuel (RDF) gasification plant, which initially plans for a capacity of 35 tons per day (TPD). The next steps involve scaling up this capacity significantly to 150 TPD.
Production Goals and Environmental Impact
Upon full operation, this facility is projected to yield an impressive 12,000 metric tons of methanol annually over its anticipated operational lifespan of 25 years. This output will significantly contribute to reducing greenhouse gas emissions and fostering cleaner production methods.
Phase Breakdown of the Project
The project is structured into various phases:
- Phase 1: The initial setup will include a 35 TPD RDF gasification and methanol synthesis system, complemented by on-site power generation utilizing HyOrc engines.
- Planned Expansion: Future plans will enhance the facility's capacity to 150 TPD, with the potential to generate about $200 million in green methanol revenue over its lifetime.
- Feedstock Management: Acetech will be responsible for securing the necessary RDF feedstock, in addition to providing the industrial land required for the project.
- Technical Contributions: HyOrc will leverage its proprietary technologies for gasification and methanol synthesis, retaining ownership and licensing rights to its innovations.
- Project Execution: A UK-based Special Purpose Vehicle (SPV) will facilitate the joint execution of the project.
A Vision for Sustainable Development
CEO K. Reginald Fubara emphasizes that this partnership represents a key step towards decarbonizing sectors that are difficult to address through conventional methods. This initiative is the first of many proposed waste-to-green methanol projects aligned with HyOrc's broader strategy for sustainable fuel production.
HyOrc Corporation Profile
HyOrc Corporation (OTC: ASPZ) is at the forefront of developing transformative waste-to-methanol systems and hydrogen combustion engines targeted at diverse applications, including rail, maritime, and distributed power. With an extensive patent portfolio and adherence to ISO certifications, HyOrc remains dedicated to decarbonization without reliance on subsidies. Currently, HyOrc has approximately 728.19 million shares outstanding, with 26.30 million shares held at DTC.
Insights on Acetech Metals Limited
Acetech Metals is a UK-based enterprise specializing in recycling and waste processing solutions. They prioritize sustainability in materials management and strive for innovation in clean energy projects, complementing HyOrc's vision for greener alternatives.
Contact Information
For further inquiries, please reach out to:
Laura Donohoe
Investor Relations
laura@hyorc.com
www.hyorc.com
Frequently Asked Questions
What is the purpose of the HyOrc and Acetech partnership?
The partnership aims to develop a facility for converting municipal waste into green methanol, contributing to sustainable energy solutions.
What is the expected output of the new facility?
The facility is projected to produce approximately 12,000 metric tons of methanol annually.
How is the project structured?
The project will be executed in phases, starting with a 35 TPD capacity and scaling up to 150 TPD.
What role does Acetech play in this project?
Acetech will secure RDF supplies and provide land for the facility, playing a crucial role in project logistics.
Who should be contacted for more information?
For more information, contact Laura Donohoe through the email address laura@hyorc.com.
