HyOrc & Prio Bio Sign 10-Year Green Methanol Offtake Term Sheet for Porto Project

Core Viewpoint - HyOrc Corporation has signed a 10-year exclusive commercial term sheet with PRIO BIO, S.A. for the offtake of green methanol from its upcoming pilot production facility in Portugal, marking a significant step in the company's expansion into the European market [1]. Group 1: Agreement Details - The agreement encompasses the supply of approximately 2,800 tonnes per year of waste-based green methanol from HyOrc's initial 8-tonnes-per-day production module, which is expected to commence commercial operations by early 2027 [2]. - The Porto project is the first implementation of HyOrc's modular waste-to-methanol platform in Europe, aimed at providing certified renewable fuel to the maritime and industrial sectors [2]. Group 2: Expansion Plans - HyOrc has completed frontend engineering for an 80-tonnes-per-day green methanol production facility, which is also planned for Portugal as part of the expansion phase [2]. - The Porto facility is designed as the initial phase of a modular expansion strategy, allowing for incremental capacity growth in response to contracted demand and regulatory developments in European fuel markets [5]. Group 3: Validation and Financial Aspects - Bureau Veritas and other independent agencies are conducting validation activities at HyOrc's facility in Tamil Nadu, India, which includes inspections and testing of the produced green methanol [3]. - The combination of structured offtake agreements and third-party validation is crucial for advancing the Porto project towards financial closure, as stated by the Chief Financial Officer of HyOrc [5].