HyOrc and Acetech Join Forces for Green Methanol Production
HyOrc and Acetech Unite for Sustainable Methanol Solutions
In an exciting development in the realm of sustainable energy, HyOrc Corporation (OTC: ASPZ) has officially announced its collaboration with Acetech Metals Limited to create a state-of-the-art facility dedicated to producing green methanol from municipal waste. This project is set to take place in the United Kingdom and signifies a larger movement towards clean energy.
Project Overview
The partnership centers around a Memorandum of Understanding (MOU) that outlines the foundational steps for establishing a municipal waste to green methanol facility. Central to the project is a Municipal Waste: Refuse-Derived Fuel (RDF) gasification plant boasting an initial capacity of 35 tons per day (TPD). This setup will be complemented by a methanol synthesis unit, ultimately leading to an expanded operation capable of processing up to 150 TPD.
Production Potential
Once fully operational, this innovative facility is projected to generate around 12,000 metric tons of green methanol per year over an expected lifespan of 25 years. This initiative is not just a step towards sustainability; it has the potential to drive economic growth within the region, with anticipated revenues reaching approximately $200 million throughout the lifecycle of the project.
Key Project Highlights
The collaboration between HyOrc and Acetech showcases several significant milestones, including:
- Phase 1 Deployment: The initial setup will feature a 35 TPD RDF gasification system paired with a methanol synthesis unit. On-site HyOrc engines will ensure electricity generation from the syngas, supporting operations.
- Future Expansion: Plans are in place to scale the operation to a 150 TPD capacity, enhancing production capabilities and revenue potential.
- Strategic Feedstock Supply: Acetech will ensure a steady supply of RDF and secure the necessary land for operation through a long-term agreement, demonstrating their commitment to the project’s success.
- Technology and Infrastructure: HyOrc will contribute advanced gasification and methanol synthesis technology, retaining ownership and licensing rights to safeguard their intellectual property.
- Joint Venture Structure: The project will be realized through a joint venture structured as a UK-based Special Purpose Vehicle (SPV), providing clarity and collaboration between both partners.
Statements from Leadership
K. Reginald Fubara, CEO of HyOrc, shared his enthusiasm about the partnership, stating, “This collaboration with Acetech marks a major milestone in HyOrc’s mission to decarbonize hard-to-abate sectors using proven waste-to-fuel solutions. The project is the first of a series of waste-to-green methanol initiatives planned by HyOrc as part of our broader green fuels portfolio.”
About the Companies
HyOrc Corporation
HyOrc Corporation specializes in the development and commercialization of advanced waste-to-methanol systems alongside hydrogen combustion technologies for various applications, including rail, maritime, and distributed power systems. With a robust portfolio of patents and ISO-certified operations, HyOrc stands firm in its commitment to reducing carbon emissions and fostering sustainability.
Acetech Metals Limited
Acetech Metals is a prominent UK-based company focused on recycling and waste management. The firm is dedicated to implementing innovative clean energy solutions and sustainable materials management practices that benefit the environment.
Contact Information
For further inquiries regarding the project, reach out to:
Laura Donohoe
Investor Relations
laura@hyorc.com
www.hyorc.com
Frequently Asked Questions
What is the new project between HyOrc and Acetech about?
The project involves creating a facility that converts municipal waste into green methanol, contributing to sustainable energy solutions.
What is the expected revenue from the project?
The green methanol facility is projected to generate approximately $200 million in revenue over its operational lifespan of 25 years.
What technology is HyOrc contributing to the project?
HyOrc will provide proprietary gasification and methanol synthesis technology, which is essential for the production process.
What will be the capacity of the facility once fully operational?
The fully operational facility is expected to process up to 150 tons of municipal waste per day.
Who will manage the feedstock supply for the project?
Acetech Metals will coordinate the supply of refuse-derived fuel and secure the necessary land for the project.
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