Syntholene Energy Accelerates Construction of Demonstration Facility; Targets Completion in June
Syntholene Energy (ESAF.V) on Wednesday said construction of its geothermal-integrated synthetic fuel demonstration facility in Iceland is ahead of schedule, and that first operations could be in place next month.Effects testing and real-world data gathering are expected to start shortly thereafter, and the company is now targeting publication of its first efficiency and technoeconomic data as soon as the fourth quarter, said the company."The accelerated construction timeline stems from the completion of several key engineering and manufacturing milestones ahead of schedule, including the fabrication of the Demonstration Facility's Thermal Coupling heat exchanger system in just 42 days," stated the company.Factory acceptance and operational commissioning of the company's solid oxide electrolyzer cell (SOEC) system was also completed ahead of the originally scheduled Fall 2026 completion timeline, it added."Few advanced energy projects finish ahead of schedule, even at the demonstration stage," said chief executive Dan Sutton. "The fact that construction of Syntholene's Demonstration Facility is on track to finish six months ahead of schedule reflects the seasoned execution capabilities of Syntholene's engineering and project teams, as well as the elegance and modularity of the company's thermal-hybrid architecture."The company's shares were last seen up $0.04 to $0.66 on the TSX Venture Exchange.Price: $0.66, Change: $+0.04, Percent Change: +6.45%
