Kanin Energy Develops 7 MW Waste Heat to Power Project at Colorado Gas Plant

Rhea-AI Summary

Phillips 66 (NYSE:PSX) will host a 7-megawatt waste heat to power project developed by Kanin Energy at the Mewbourn natural gas processing complex in Platteville, Colorado. The WHP system will use turbine waste heat to generate onsite baseload power, aiming to cut power costs and greenhouse gas emissions.

Kanin Energy will develop, own, and operate the facility, giving Phillips 66 a turnkey solution without upfront capital. Construction is expected to begin later in 2026, supporting plant reliability, operational resilience, and a reduced environmental footprint.

News Market Reaction – PSX

+1.15%

+1.15% Session close to close

In the Jun 23 session, PSX gained 1.15%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement highlights a 7-megawatt waste heat to power project that supports efficiency and e...

Analysis

This announcement highlights a 7-megawatt waste heat to power project that supports efficiency and emissions goals at a PSX gas plant. Prior news has generally seen aligned price responses; ongoing balance sheet management remains a key watchpoint.

Key Figures

WHP project size: 7 megawatts

1 metrics

WHP project size 7 megawatts Planned waste heat to power facility at Mewbourn gas processing complex

Historical Context

5 past events · Latest: Jun 09 (Positive)

Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
Jun 09	Conference appearance	Positive	+1.5%	Management participation at major J.P. Morgan energy conference and webcast access.
May 18	Growth capex plans	Positive	+2.0%	Announcement of Zeus Gas Plant, new fractionator and pipeline to expand midstream.
May 13	Board changes	Negative	-2.1%	Leadership reshuffle with new lead independent director and committee chair changes.
May 04	Annual meeting notice	Neutral	+1.3%	Scheduling and access details for virtual 2026 annual shareholder meeting.
Apr 29	Quarterly earnings	Positive	+5.1%	1Q 2026 results with high utilization, strong operations and dividend increase.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Recent PSX news events have generally seen share price moves align with the tone of the announcements.

Key Terms

waste heat to power, baseload power, greenhouse gas emissions, gas compression turbines

4 terms

waste heat to power technical

"develop a 7-megawatt waste heat to power (WHP) facility at the Phillips 66"

Waste heat to power describes technologies that capture leftover heat from industrial processes, engines, or buildings and convert it into electricity, similar to using the steam from a kettle to turn a small turbine instead of letting it escape. It matters to investors because it can lower operational energy costs, create an additional revenue stream or asset value, improve a business’s environmental profile, and reduce exposure to energy price swings or carbon-related regulations.

baseload power technical

"generate onsite, baseload power, supporting plant reliability and long-term"

Baseload power is the consistent, reliable electricity output that a power plant or source can provide around the clock to meet the minimum demand on the grid, similar to a factory that runs steadily to keep essential machines humming. For investors, baseload capacity matters because it tends to produce predictable revenue, supports grid stability, and reduces the risk that production will be sidelined when demand dips, making assets and contracts tied to it easier to value.

greenhouse gas emissions technical

"expected to lower long-term power costs and reduce greenhouse gas emissions."

Greenhouse gas emissions are the gases a company releases into the air—like carbon dioxide or methane—that trap heat in the atmosphere and contribute to global warming. For investors, these emissions matter because they can lead to higher regulatory costs, fines, shifting consumer preferences, and physical risks (like supply-chain disruptions), or create opportunities in low-carbon products; think of emissions as a company’s climate footprint that can affect future profits and value.

gas compression turbines technical

"system captures waste heat from gas compression turbines and converts it into"

Gas compression turbines are engines that drive compressors to squeeze and raise the pressure of natural gas so it can move through pipelines, be stored, or be used in industrial processes. For investors, they matter because they are essential pieces of energy infrastructure: their reliability, fuel efficiency, maintenance costs, and regulatory treatment influence operating costs and the steady delivery of gas—similar to how pumps keep water flowing through a city's pipes.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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HOUSTON, June 23, 2026 /PRNewswire/ -- Kanin Energy today announced plans to develop a 7-megawatt waste heat to power (WHP) facility at the Phillips 66 Mewbourn natural gas processing complex in Platteville, Colorado. The project represents an innovative collaboration that leverages industrial waste heat to generate onsite, baseload power, supporting plant reliability and long-term operational resilience while reducing the facility's environmental footprint.

The WHP system captures waste heat from gas compression turbines and converts it into reliable, lower-emissions intensity power for direct use at the Phillips 66 Mewbourn complex. This project is expected to lower long-term power costs and reduce greenhouse gas emissions. Construction is expected to begin later this year.

Under the project structure, Kanin Energy will develop, own, and operate the WHP facility, delivering a turnkey solution that enables Phillips 66 to unlock the value of its waste heat resources without upfront capital investment.

"We are excited to be working on this project with Phillips 66, a company that demonstrates a genuine commitment to innovation and continuous improvement at their operations. Helping industry unlock new value from their existing operations and save on energy costs is core to Kanin Energy's mission. This project with Phillips 66 is a strong example of the kind of collaboration that makes this vision a reality." said Janice Tran, CEO at Kanin Energy.

"This waste heat to power project at our Mewbourn plant is another example of how we are investing in innovative technologies that support safe, reliable operations and strengthen the long-term resilience of our system," said Michelle Hilger, Vice President, Phillips 66 Technical Services and Innovation. "It reflects our team's focus on continuous improvement and innovation as we look for new ways to enhance performance and reduce our environmental footprint."

About Kanin Energy

Kanin Energy is a technology-agnostic, developer, owner, and operator of industrial energy assets including Waste Heat to Power (WHP) and Combined Heat & Power (CHP). They bring expertise in designing, building, and operating power generation and thermal systems, structuring long-term offtake and interconnection agreements, as well as sourcing capital to finance major infrastructure projects for industrial operators. For more information, visit kaninenergy.com.

About Phillips 66

Phillips 66 (NYSE: PSX) is a leading integrated downstream energy provider that manufactures, transports and markets products that drive the global economy. The company's portfolio includes Midstream, Chemicals, Refining, Marketing and Specialties, and Renewable Fuels businesses. Headquartered in Houston, Phillips 66 has employees around the globe who are committed to safely and reliably providing energy and improving lives while pursuing a lower-carbon future. For more information, visit phillips66.com or follow @Phillips66Co on LinkedIn.

View original content to download multimedia:https://www.prnewswire.com/news-releases/kanin-energy-develops-7-mw-waste-heat-to-power-project-at-colorado-gas-plant-302807190.html

SOURCE Kanin Energy

FAQ

What is the new waste heat to power project at the Phillips 66 (PSX) Mewbourn gas plant?

The project is a planned 7-megawatt waste heat to power facility at the Phillips 66 Mewbourn complex. According to Kanin Energy, it will capture turbine waste heat to generate onsite baseload power, supporting reliability and lowering emissions intensity at the Colorado gas plant.

How will the Kanin Energy 7 MW waste heat to power project benefit Phillips 66 (PSX) operations?

The project is expected to enhance plant reliability and long-term operational resilience at Mewbourn. According to Phillips 66, using captured waste heat for onsite power should reduce greenhouse gas emissions and lower long-term power costs while supporting safe, reliable operations.

When will construction start on the Kanin Energy waste heat to power project for Phillips 66 (PSX)?

Construction on the 7 MW waste heat to power project is expected to begin later in 2026. According to Kanin Energy, the facility will be developed at the Phillips 66 Mewbourn natural gas processing complex in Platteville, Colorado, following this planned construction start.

Who will own and operate the 7 MW waste heat to power facility serving Phillips 66 (PSX)?

Kanin Energy will develop, own, and operate the waste heat to power facility. According to Kanin Energy, this turnkey model allows Phillips 66 to unlock value from waste heat resources at Mewbourn without upfront capital investment while accessing lower-emissions intensity onsite power.

How could the Phillips 66 (PSX) Mewbourn waste heat to power project impact emissions?

The project aims to reduce greenhouse gas emissions by converting turbine waste heat into power instead of venting it. According to Phillips 66, the WHP system will provide lower-emissions intensity onsite electricity, helping shrink the environmental footprint of the Mewbourn gas processing complex.