PR Newswire
SYNTHOLENE ENERGY CORP ("Syntholene" or the "Company"), a leader in clean fuel synthesis, has secured a dedicated geothermal energy resource sufficient to deploy the world's first geothermally-powered synthetic sustainable aviation fuel (eSAF) plant module.
The signing of a binding agreement for up to 20 megawatts of electrical energy (or thermal equivalent) marks a key step toward the company's goal of delivering clean synthetic fuels at lower cost than fossil fuels, for the first time. Syntholene combines geothermal heat and electricity to enable breakthrough energy efficiency for high temperature steam electrolysis, with the mission of overhauling the economics of power-to-fuels technology.
With the processes already demonstrated at lab-scale, the energy delivered as a result of the binding agreement will be used to power a commercial-demonstration-scale geothermal-powered synthetic fuel production facility. The first target fuel output is synthetic kerosene, earmarked to fill the growing demand for eSAF clean aviation fuel.
This hybrid energy installation represents a global first, demonstrating the potential of geothermal resources to power scalable and sustainable synthetic hydrocarbon fuel infrastructure with a base-load supply of both heat and electricity. Notably, the agreement enables the operation to scale from demonstration to industrial output.
"This energy agreement represents the seeds of a transformative moment for synthetic fuel cost and scalability." said Dan Sutton, CEO of Syntholene. "By integrating proven processes with a dedicated geothermal resource, we aim to deliver high-performance, low-cost, and carbon-neutral eSAF that can bankably scale to meet the global demand for clean aviation fuel."
Binding Agreement
Syntholene Energy Corp ("Syntholene") has entered into a binding Letter of Intent ("LOI") for the strategic development of the demonstration facility. Under the terms of the LOI, Syntholene will design, engineer, construct, commission, and staff the facility at a partner-controlled geothermal site. Syntholene retains exclusive ownership rights to the test facility equipment, intellectual property derived from the project, and the right to scale operations commercially, contingent upon the successful completion of the demonstration.
The LOI includes a commercial expansion option, allowing Syntholene access to approximately 20 megawatts of geothermal electrical or equivalent heat capacity for future commercial-scale operations, subject to technical, financial, and regulatory viability.
Completion of the transactions contemplated by the LOI are subject to a number of conditions, including entry into a more fulsome definitive agreement.
Geothermal for Carbon Neutral Industrial Heat
Geothermal energy presents several prospective advantages for powering heat-intensive industrial processes such as fuel synthesis. Appropriately selected geothermal resources provide carbon-neutral and low-cost thermal power with consistent uptime. With the right heat and pressure characteristics, these resources can meet the rigorous demands of industrial power requirements.
Most geothermal power plants operating today have been developed to generate electricity, with substantial waste heat. By combining energy inputs for endothermic industrial processes, Syntholene envisions a more efficient use of the heat energy inherent in geothermal resources. This enables a more industrially-tailored energy profile for synthetic fuel production facilities co-located to high-quality geothermal resources.
About Syntholene Energy Corp
Syntholene Energy Corp is pursuing a new pathway for high-efficiency fuel synthesis paired to dedicated, high temperature geothermal resources. The target output is molecularly-pure synthetic fuel, produced at a lower cost than fossil fuels, for the first time. The company's mission is to deliver the world's first truly high-performance, low-cost, and carbon-neutral synthetic fuel through a scalable modular production system.
Clean synthetic fuels are drop-in-substitutable for diesel, gasoline, and kerosene without the need to retrofit existing engines, motors, or turbines. This allows continued utilization of the many trillions of dollars worth of fossil fuel infrastructure that our global economy relies on today, economically transitioning to a carbon-neutral fossil fuel replacement.
Syntholene's team brings together world class advanced energy infrastructure development specialists across diverse disciplines including design, engineering, project finance, operations, and project management. The company's competitive edge lives at the intersection of cutting-edge fuel-synthesis chemistry and low-cost thermal and electrical energy.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "aims", "continue", "estimate", "objective", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information or statements. All statements, other than statements of historical fact, including but not limited to statements regarding the completion of the definitive agreement, successful implementation of the test facility, commercial scalability, technical and economic viability, anticipated geothermal power availability, and future commercial opportunities are forward-looking statements.
The forward-looking statements and information are based on certain key expectations and assumptions made by the Company. Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because the Company can give no assurance that they will prove to be correct. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks, including without limitation Syntholene's ability to meet production targets, realize projected economic benefits, overcome technical challenges, secure financing, maintain regulatory compliance, manage geopolitical risks, and successfully negotiate definitive terms. Syntholene does not undertake any obligation to update or revise these forward-looking statements, except as required by applicable securities laws.
Readers are advised to exercise caution and not to place undue reliance on these forward-looking statements.
For further information, please contact: comms@syntholene.com, www.syntholene.com
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