Enter Wall Street with StreetInsider Premium. Claim your one week free trial here.
HOUSTON, TX/ACCESSWIRE/April 27, 2022/ENG (NASDAQ:ENG), a leading provider of innovative project delivery solutions for the energy industry, today commented on its previously announced plan to design and build a renewable diesel and sustainable aviation fuel plant .
As first announced on February 22 this year, ENG will use its modular execution strategy combined with its standard 6,500 bpd plant design and, together with its partners, provide engineering, procurement and construction for a complete plant designed to produce approximately 100 million gallons of sustainable aviation and diesel fuel per year from renewable raw materials. This combination benefits their customer by reducing the time from final investment decision (FID) to first fuel production, reducing costs and increasing design and sourcing accuracy.
The project is currently expected to be completed within approximately 24 months from IDF. Additionally, as this is the second US project of its type ENG has executed, it will benefit from lessons learned from a similar project as well as using the same vendors and construction partners.
This second US-based plant will use process technology licensed from Haldor Topsoe A/S, known as “HydroFlex” and “Hydrogen Bridge” technologies, to produce low-carbon fuels. The plant represents an extension of ENG’s portfolio of renewable energy projects following the successful design, engineering, manufacturing and delivery of a modular hydrogen plant of a worth more than $28 million.
Assuming the FID is realized, ENG expects its scope on the current project to exceed $100 million.
“There is an ever-increasing need for renewable aviation fuel and diesel in the United States and we are very pleased to be part of this project, which represents another major contribution to this market,” said Roger Westerlind, President of ENG.
“We look forward to providing additional details on this project in the near future.”
ENG (NASDAQ: ENG) is a leading provider of complete project solutions for renewable and traditional energy in the United States and around the world. ENG operates through two business segments: Business and Government Services. The Commercial segment provides engineering, design, manufacturing, construction and integration of automated control systems as a complete solution for its customers. The Government Services segment provides engineering, design, installation, operation and maintenance of various government, public sector and international facilities, specializing in turnkey automation and instrumentation systems for the US defense industry around the world. Further information on the Company and its activities is available at www.englobal.com.
Safe Harbor for forward-looking statements
The above statements regarding the Company’s expectations, including those relating to its future results, operations and certain other matters discussed in this press release may constitute forward-looking statements within the meaning of federal securities laws and are subject to to risks and uncertainties. For a discussion of the risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ENG’s filings with the Securities and Exchange Commission, including the most recent reports of the corporation on Forms 10-K and 10-Q. , and other documents filed with the SEC.
Click here to join our mailing list: https://www.englobal.com/investors/
Market Makers – Investor Relations
E-mail: [email protected]
Market Makers – Media Relations
E-mail: [email protected]
THE SOURCE: ENGlobal
See the source version on accesswire.com: