Synstream Energy Corp. Signs a Memorandum of Understanding with Sterling Greyrock Partners LLC for the Installation of a Small Scale “Gas to Liquids” Plant
Calgary, Alberta (FSCwire) - SynStream Energy Corp. (“SynStream” or the “Company”) (TSXV:SHM) is pleased to announce the Company and its partner, Expander Energy Inc. (“Expander”), have signed a Memorandum of Understanding (the “MOU”) with Sterling Greyrock Partners LLC. (“SGP”) to purchase SGP’s Greyrock S-Class “Gas to Liquids” (“GTL”) plant. Under terms of the MOU, signed August 5, 2016, SynStream and Expander will have 90 days to complete due diligence and entering into a formal Purchase and Sales Agreement.
SynStream intends to build and operate Enhanced GTL® SynDiesel® plants under license from Expander Energy Inc. as previously announced. Expander Enhanced GTL® SynDiesel® plants are feedstock flexible and capable of converting natural gas, natural gas liquids, and liquid petroleum gas into zero sulfur, high cetane synthetic diesel and jet fuel. SynStream intends to work collaboratively with oil and natural producers to monetize low value NG/NGL/LPG, eliminating the need to dispose of these resources by costly re-injection or flaring. SynStream, Expander Energy Inc., and their partners are currently evaluating a suitable location to site Canada’s first Enhanced GTL® SynDiesel® plant.
Expander’s SynDiesel® fuel is premium, zero sulphur, high cetane, zero aromatic paraffinic diesel meeting existing ASTM and European standards for Ultra Low Sulphur Diesel (“ULSD”). SynDiesel® is a “Drop-In” fuel, that does not require specialized fueling stations or engine technology such as LNG or CNG. SynDiesel® can be blended with petroleum based diesel to upgrade performance and lower Greenhouse Gas (“GHG”) emissions. SynDiesel® is expected reduce tail piped GHG’s up to 9% and meet the Canadian/US Low Carbon Fuel Standard, when compared to petroleum-based diesel fuel.
For further information, contact:
Chief Executive Officer
About SynStream Energy Corp.
SynStream continues to evaluate business development opportunities in the petroleum and natural gas resource sectors, focusing on its partnership between with Expander Energy Inc. and a consortium of private investors to build Canada’s first small-scale commercial Enhanced GTL® (“EGTL™”) plant in Alberta. Given the current depressed nature of natural gas prices in relation to diesel prices in Alberta, management is confident that expansion of the Corporation's business activities can be accomplished on a basis that is both economically feasible and profitable.
About Expander Energy Inc.
Expander Energy is a leading developer and licensor of processes to convert carbon sources into valuable synthetic fuels. Their engineered fuels are ultra-clean burning and complement existing transportation fuel infrastructure and current engine technologies. Expander’s fuels reduce GHG emissions and are produced from carbon rich materials such as natural gas, biomass, bitumen residuals, petcoke and municipal solid waste. Expander strives to deliver an alternative, drop-in fuel through patented technology to provide economic growth for Alberta and Canada while being environmentally conscious. Expander Energy Inc. is a privately held energy company located in Calgary, Alberta, Canada.
Contact: James Ross, CEO, +1 (403) 475-4146
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Source: SynStream Energy Corp. (TSX Venture:SHM)
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