Vancouver, British Columbia – 20. September 2023 / IRW-Press / – Emergent Waste Solutions Inc. („EWS“ or „the company“) is pleased to announce that the company has signed a memorandum of understanding (MOU) with Advent Technologies Holdings Inc. (NASDAQ: ADN) („Advent“) for the provision of methanol-based fuel cells and the development of large-scale green methanol production facilities.
EWS has proprietary patented Advanced Thermolysis technology, which converts carbon-containing waste materials from agriculture and forestry into valuable products. As a byproduct of our carbon production, we also generate biogas. Through our recently signed MOU with Hago Energetics in Southern California, we also have access to groundbreaking technology that can cost-effectively convert our biogas into green methanol. Methanol is not only used in the production of a variety of chemicals, but it is also a unique source of energy: it is stable and can be safely stored in containers and transported using existing infrastructure.
Importantly, Advent is a pioneer in the development of next-generation high-efficiency hydrogen fuel cells that can operate not only on pure hydrogen but also on other fuels such as natural gas, liquefied gas, e-fuels, or other hydrogen carriers. Our green methanol is one of these important energy carriers.
Methanol’s volumetric energy density is about three times higher than that of compressed H2 (700 bar) and twice as high as that of liquid H2. In fact, one liter of methanol contains more hydrogen than one liter of liquefied H2. This makes green methanol a much more efficient medium for delivering hydrogen to a fuel cell than hydrogen in containers.1
The MOU is subject to a final agreement and includes the following key terms:
– The MOU relates to the establishment of a cooperation between EWS and Advent, both of which will contribute their respective technologies for the production, storage, and sale of methanol and green hydrogen.
– Each party acts independently, but both work together on the conversion of carbon-based waste materials and their utilization for Advent’s fuel cells.
– Advent will use EWS as a non-exclusive energy carrier supplier for its fuel cells requiring green methanol where it makes sense.
– EWS will sell green methanol directly to Advent.
– The MOU has a term of four years.
Kevin Hull, CEO of EWS, states: „We are thrilled about this MOU with Advent Technologies. Hydrogen fuel cells have not been suitable for widespread use because it is difficult to cost-effectively produce hydrogen, store and transport it safely, and deliver it to fuel cells. Advent’s revolutionary technology is the solution to all of these challenges. We believe that by producing green methanol and creating opportunities for the use of Advent’s fuel cells – even in our own facilities – our companies can foster the development of a hydrogen-based economy.“
About Advent Technologies Holdings, Inc.
Advent Technologies Holdings, Inc. is a US-based company that develops, manufactures, and assembles complete fuel cell systems, as well as supplying key components to customers in the renewable energy fuel cell space. Advent is headquartered in Boston, Massachusetts, with offices in California, Greece, Denmark, Germany, and the Philippines. With over 150 granted, pending, and/or licensed patents for fuel cell technology, Advent has the intellectual property for the next generation of high-temperature polymer electrolyte membrane fuel cells (HT-PEM), enabling the use of various fuels at high temperatures and extreme conditions, suitable for the automotive, aerospace, defense, oil & gas, shipping, and power generation industries. For more information, visit www.advent.energy.
About Emergent Waste Solutions Inc.
EWS is a British Columbia-based company that holds the global rights to use the world-leading Advanced Thermolysis System („ATS“) technology. ATS is an innovative, safe, efficient, and proven process for converting waste materials such as household waste, tires, plastics, biomass, and animal waste into marketable products including activated carbon, soot, biochar, biocoal, biogas, and bio-oil. Potential projects worth over $200 million are currently under development. EWS and Buscando Resources Corp. („Buscando“) (CSE: BRCO) have signed a final merger agreement effective September 18, 2023, which provides for Buscando to acquire all of the outstanding shares of EWS („the EWS Shares“) through a three-part amalgamation.
FOR THE BOARD
Kevin Hull
CEO
Visit the company’s website for detailed information about our technology and products: http://www.ewscanada.com
For more information, please contact:
mailto:khull@ewscanada.com
(604)741-1956
1 Source: International Renewable Energy Agency (IRENA)
Disclaimer for forward-looking information
The forward-looking statements contained in this press release are expressly qualified by this cautionary statement. The forward-looking statements contained in this press release are made as of the date of this press release. Although the Company’s management 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. Neither the Company nor EWS or the resulting publisher is obligated to update any forward-looking statements or forward-looking information referred to herein, except as required by applicable Canadian securities laws.
The original language (usually English) in which the original text is published is the official, authorized, and legally binding version. This translation is provided for better understanding. The German version may be abridged or summarized. No responsibility or liability is assumed for the content, accuracy, adequacy, or accuracy of this translation. From the translator’s perspective, the announcement does not constitute a recommendation to buy or sell! Please refer to the English original announcement on www.sedarplus.ca, www.sec.gov, www.asx.com.au/, or on the company’s website!
The original English announcement can be found at the following link:
https://www.irw-press.at/press_html.aspx?messageID=72028
The translated announcement can be found at the following link: