Vancouver, B.C., Oct. 12, 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 Nu-E Corp (“Nu-E”) for using solar generated electricity to power the reactors in EWS’ proposed future thermolysis plant, which will produce green biogas. This green biogas will subsequently be converted into green methanol as a store of hydrogen for use in fuel cells.
EWS has a proprietary and patent pending Advanced Thermolysis Technology (“ATS”) 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. Synergistically, EWS has also put in place a technology cooperation agreement with Advent Technology, which affords EWS the capability to generate power with the green methanol created by Hago Energetics, by way of Advent fuel cells that can utilize our green methanol.
However, as EWS migrates from the current generation of ATS plants that use biogas to heat the reactors it needs a reliable source of solar power as an alternative. The Nu-E development team is a leader in Alberta and Western Canada for large-scale utility scale solar deployment. By partnering with Nu-E, EWS will be able focus on its core competency of building/operating leading-edge thermolysis facilities and potentially offset CAPEX by entering into a long-term Power Purchase Agreement with Nu-E Corp.
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’, Hago Energetics’, 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 and work towards negotiating a Power Purchase Agreement for electricity to be generated by solar.
- The MOU has a two-year term.
Explains Brock Stewart, CEO of Nu-E CORP.: “Nu-E is excited to partner with EWS on this innovative and sustainable project. EWS's technology has the potential to revolutionize the way we manage waste and generate clean energy. Nu-E's solar power generation expertise will complement EWS's technology perfectly, and together we can help create a cleaner and more sustainable future.
States Kevin Hull, CEO of EWS, “We aim to be a leading provider of green methanol, and a partnership with a leading solar company has been the missing link. We are extremely pleased to partner with one of Western Canada’s leading Solar companies. The fact they are an Alberta company is an added benefit, as EWS is currently looking at site locations in Alberta, in part because the Province has a focus on creating a Hydrogen Economy.”
About Nu-E Corp.
Nu-E is a Calgary, Alberta based utility-scale solar developer focused on the design, development, construction, and operation of large-scale renewable energy projects. Our goal is to profitably accelerate the transition to clean energy by delivering reliable, cost-effective, and sustainable solutions to power grids. Through a joint venture entity, Nu-E has partnered with Low Carbon, a renewable energy and investment company out of the UK, with the goal of developing up to 2 GW of solar PV, onshore wind, and battery storage projects in Canada by 2030.
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. It currently has over $200 MM of potential projects in the pipeline. EWS and Buscando Resources Corp. (“Buscando”) (CSE: BRCO) have entered into a definitive amalgamation agreement dated effective September 18, 2023 pursuant to which Buscando will acquire all of the outstanding shares in the capital of EWS (the “EWS Shares”) by way of a three-cornered amalgamation.
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.
