Vancouver, B.C., Sept. 20, 2023 (GLOBE NEWSWIRE) -- Emergent Waste Solutions Inc. (“EWS” or “the Company”), is pleased to announce that it has entered into a Memorandum of Understanding (MOU) with Advent Technologies Holdings Inc. (NASDAQ:ADN) (“Advent”) for deployment of Methanol-based fuel cells and development of large-scale plants that will generate green methanol.
EWS has a proprietary and patent pending Advanced Thermolysis Technology that generates valuable products from carbon-based waste material, including that generated by the agriculture and forest industries. As a by-product of the creation of our carbon products we also generate biogas. Through our recently signed MOU with Hago Energetics of Southern California, we have access to a breakthrough technology that can economically convert our biogas into green methanol. While methanol is used to make a variety of chemicals, it is also a unique fuel source: stable, safe to containerize, and safely transportable with existing infrastructure.
Importantly, Advent has led the way in creating the next generation of highly efficient hydrogen fuel cells that can operate with pure hydrogen in addition to other fuels such as NG, LPG, and e-fuels or other hydrogen carriers. Significantly, our green methanol is one such fuel.
The volumetric energy density of methanol is about three times higher than compressed H2 (700 bar) and two times higher than liquid H2. One litre of methanol actually contains more hydrogen than one litre of liquefied H2. This makes green methanol a much more efficient delivery medium of hydrogen to a fuel cell, than containerized hydrogen itself.1
Key terms of the MOU, which is subject to a definitive agreement, are:
- The MOU is related to establishment of a collaboration of employing EWS’ and Advent’s respective technologies for producing, storing, and selling methanol and Green Hydrogen.
- Each of the parties will operate independently but will collaborate to transform carbon-based waste materials and providing it to Advent for its fuel cells.
- Advent, where reasonable, will use EWS as a non-exclusive fuel source provider for Advent fuel cells requiring green methanol
- EWS will sell green methanol directly to Advent.
- The MOU has a four-year term.
States Kevin Hull, CEO of EWS, “We are tremendously excited about our MOU with Advent Technologies. Hydrogen Fuel cells have been held back from widespread use because of the challenges of creating hydrogen economically, storing it and transporting it safely, and delivering it to the fuel cells. Advent’s game-changing technology has solved all of these challenges. We believe that by generating green methanol and creating opportunities to employ Advent fuel cells, even at our own plants, our companies will be able to help facilitate the development of the Hydrogen-based economy.”
About Advent Technologies Holdings, Inc.
Advent Technologies Holdings, Inc. is a U.S. corporation that develops, manufactures, and assembles complete fuel cell systems as well as supplying customers with critical components for fuel cells in the renewable energy sector. Advent is headquartered in Boston, Massachusetts, with offices in California, Greece, Denmark, Germany, and the Philippines. With more than 150 patents issued, pending, and/or licensed for fuel cell technology, Advent holds the IP for next-generation HT-PEM that enables various fuels to function at high temperatures and under extreme conditions, suitable for the automotive, aviation, defense, oil and gas, marine, and power generation sectors. For more information, visit www.advent.energy.
About Emergent Waste Solutions Inc.
EWS is a BC company with worldwide rights to deploy the world leading Advanced Thermolysis System (“ATS”) technology. ATS is an innovative, secure, efficient, and proven method for the converting of waste materials such as MSW, tires, plastics, biomass, and livestock waste into marketable products, such as activated carbon, carbon black, biochar, bio-coal, biogas, and bio-oil.
ON BEHALF OF THE BOARD
Kevin Hull
CEO
You are invited to click here to view the company website for more information about our technology and products: http://www.ewscanada.com
For further information contact:
khull@ewscanada.com
(604)741-1956
1 Source: International Renewable Energy Agency (IRENA)
Disclaimer for Forward-Looking Information
Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward looking information. The Company, EWS nor the Resulting Issuer assumes any obligation to update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable Canadian securities laws.
