HyOrc Advances Commercial Deployment with €6.7 Million STEP Grant Approval and $7.5 Million Equity Facility

Rhea-AI Summary

HyOrc (OTCQB: HYOR) reported progress on its Portuguese commercial rollout and financing plans. The company restructured its partnership with MO.RE.DA., forming HYORC GREEN FUELS, LDA as a 50/50 joint venture to develop and scale RDF-to-green-methanol production in Portugal, with a 3 tonnes-per-day RDF input and up to 1 tonne-per-day methanol output configuration confirmed in the JV agreement.

HyOrc’s first commercial modular unit is nearing completion, with shipment to Portugal expected in September 2026 and installation and initial production targeted for November 2026. The Portuguese project has secured approval for €6.7 million in non-repayable Portugal 2030 STEP funding to support larger-scale expansion. Separately, HyOrc entered an Equity Purchase Agreement providing access to up to $7.5 million in equity capital, which the company positions as part of a broader capital strategy supporting a planned transition from OTCQB to Nasdaq. HyOrc intends to finance major projects mainly through project-level capital, strategic investment and non-dilutive funding, using corporate capital primarily to strengthen the public company and advance its Nasdaq strategy.

Positive

• €6.7 million non-repayable STEP funding approved for Portugal project expansion
• First commercial unit targets shipment by September 2026 and initial production by November 2026
• Formation of 50/50 joint venture HYORC GREEN FUELS, LDA with MO.RE.DA. for RDF-to-methanol
• Confirmed 3 TPD RDF input and up to 1 TPD methanol output for initial commercial unit
• Equity Purchase Agreement provides access to up to $7.5 million in corporate capital
• Capital strategy aligned with planned transition from OTCQB to Nasdaq

Negative

• Equity Purchase Agreement of up to $7.5 million implies potential share issuance and dilution
• Commercial deployment timeline depends on on-time shipment and installation by November 2026

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HOUSTON, Aug. 10, 2026 (GLOBE NEWSWIRE) -- HyOrc Corporation (OTCQB: HYOR), an integrated clean energy infrastructure and technology company, today announced significant progress across its Portuguese commercial deployment and corporate capital strategy.

HyOrc has completed the restructuring of its Portuguese partnership with MO.RE.DA., establishing HYORC GREEN FUELS, LDA as a 50/50 joint venture focused on the development and scale-up of RDF-to-green-methanol production in Portugal. 

Manufacturing of HyOrc's initial commercial unit is nearing completion. The modular facility is designed to process 3 tonnes per day of RDF and produce up to 1 tonne per day of methanol. The Company currently expects the unit to ship to Portugal in September 2026, with installation and initial production targeted for November 2026. The 3-TPD/1-TPD configuration is confirmed in the joint venture agreement. 

In parallel, the Portuguese development has secured approval for €6.7 million in non-repayable funding under the Portugal 2030 STEP programme, providing substantial non-dilutive support for the project's larger-scale expansion. 

Separately, HyOrc has entered into an Equity Purchase Agreement providing access to up to $7.5 million in equity capital, subject to the terms and conditions of the agreement. The facility forms part of HyOrc's broader corporate capital strategy as the Company works toward its planned transition from OTCQB to Nasdaq. 

HyOrc does not currently intend to use the ELOC as the principal financing source for its commercial infrastructure projects. The Company's strategy is to finance major projects primarily through project-level capital, strategic investment and non-dilutive funding, while using corporate capital to strengthen the public company and support its Nasdaq strategy.

Reginald Fubara, CEO of HyOrc, commented:

“Our first commercial methanol unit is approaching completion, €6.7 million in STEP funding has been approved, and additional corporate capital supports our Nasdaq strategy. Our focus is clear: complete commercial deployment, generate revenues and scale.”

About HyOrc Corporation
HyOrc Corporation (OTCQB: HYOR) develops and commercializes patented hydrogen-capable combustion and waste-to-fuel systems for the shipping, rail, and off-grid power sectors.

Website: www.hyorc.com Press Contact: comms@hyorc.com

Forward-Looking Statements
This release contains forward-looking statements under Sections 27A and 21E of the Securities Acts of 1933 and 1934. These statements involve risks and uncertainties that may cause actual results to differ materially. Factors are described in Company filings with the SEC. The Company undertakes no obligation to update such statements.

FAQ

What did HyOrc (OTCQB: HYOR) announce on August 10, 2026?

HyOrc announced progress on its Portuguese RDF-to-green-methanol deployment, a 50/50 joint venture with MO.RE.DA., €6.7 million in STEP grant approval, and a $7.5 million Equity Purchase Agreement. According to HyOrc, these steps support commercial rollout and its planned move from OTCQB to Nasdaq.

How much non-repayable STEP grant funding did HyOrc (HYOR) secure for its Portugal project?

HyOrc secured approval for €6.7 million in non-repayable funding under the Portugal 2030 STEP programme. According to HyOrc, this grant provides substantial non-dilutive support for larger-scale expansion of its RDF-to-green-methanol project within the HYORC GREEN FUELS, LDA joint venture in Portugal.

What are the capacity and timeline of HyOrc’s first commercial methanol unit in Portugal (HYOR)?

HyOrc’s initial commercial unit is designed to process 3 tonnes per day of RDF and produce up to 1 tonne per day of methanol. According to HyOrc, shipment to Portugal is expected in September 2026, with installation and initial production targeted for November 2026.

What is the structure of the HYORC GREEN FUELS, LDA joint venture announced by HyOrc (HYOR)?

HYORC GREEN FUELS, LDA is a 50/50 joint venture between HyOrc and MO.RE.DA. focused on RDF-to-green-methanol production in Portugal. According to HyOrc, the JV agreement confirms the 3-TPD RDF input and up to 1-TPD methanol output configuration for the initial commercial unit.

What does HyOrc’s $7.5 million Equity Purchase Agreement mean for HYOR shareholders?

The Equity Purchase Agreement provides HyOrc access to up to $7.5 million in equity capital, subject to conditions. According to HyOrc, this facility supports its Nasdaq strategy, while major projects are intended to be financed mainly through project-level capital and non-dilutive funding.

How does HyOrc (HYOR) plan to finance its commercial infrastructure and Nasdaq uplisting strategy?

HyOrc plans to finance major commercial projects primarily through project-level capital, strategic investment and non-dilutive funding. According to HyOrc, corporate capital, including the $7.5 million equity facility, is intended mainly to strengthen the public company and support its planned transition to Nasdaq.

When does HyOrc (HYOR) expect to start generating revenue from its Portugal methanol project?

HyOrc targets shipment of its first commercial unit by September 2026 and initial production by November 2026. According to HyOrc, its focus is to complete commercial deployment, generate revenues and scale, indicating revenue generation is expected after initial production begins.