Hydrogen Production System Successfully Installed at Korean Partner's New Facilities
Rhea-AI Summary
St-Georges Eco-Mining Corp. and its subsidiary H2SX Corp. have announced the successful installation of a hydrogen production system at their Korean partner Wintech Energy's new facilities near Seoul, South Korea. The system, utilizing Wintech's proprietary microwave plasma torch technology, is expected to be fully operational by year-end, following a commissioning period.
The technology effectively dissociates carbon from hydrogen in methane molecules, producing clean hydrogen without greenhouse gas emissions. Jung Cheol Park, President of Wintech Energy, emphasized the system's ability to demonstrate the advantages of producing cheap and clean hydrogen. Dr. Sabin Boily, President and CEO of H2SX, expressed eagerness to showcase the operational technology to future partners and clients.
This Showcase Hydrogen Production Plant marks a significant milestone for H2SX, allowing interested parties to witness the technology in action and conduct independent due diligence. Several major industry players have already shown interest in reviewing the plant's operations.
Positive
- Successful installation of hydrogen production system in South Korea
- Technology produces clean hydrogen without greenhouse gas emissions
- Potential demonstration of cheap and clean hydrogen production
- Opportunity for independent third-party reviews of the technology
- Interest from major industry players in reviewing the plant's operations
Negative
- System not yet fully operational, pending commissioning period
- Financial resources still required for commissioning
News Market Reaction 1 Alert
On the day this news was published, SXOOF gained 0.98%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
MONTRÉAL, QC / ACCESSWIRE / October 2, 2024 / St-Georges Eco-Mining Corp. (CSE:SX)(OTCQB:SXOOF)(FSE:85G1), and its majority owned subsidiary, H2SX Corp., are pleased to disclose that their Korean partner, Wintech Energy, has just completed on time the installation of all the equipment for its hydrogen production system at their new facilities located in the suburbs of Seoul, South Korea.
The system will be fully operational, as planned, before the end of this year. It is expected that there will be a period of a few weeks to a few months of commissioning that will follow the reception of the financial resources required. The next few weeks will be devoted to the commissioning, to calibrating the various components, starting up and ramping up the production of hydrogen and carbon from biogas or natural gas.
Wintech's technology uses its proprietary microwave plasma torch design and topology to very effectively dissociate, using electromagnetic fields, carbon from hydrogen in a methane molecule, whether it is of natural origin or derived from the biomethanization of organic waste and residues.
"(…) We will be ready in a few weeks to demonstrate to the entire industry, at real scale and with figures to back it up, the undeniable advantages of Wintech's technology for producing cheap and clean hydrogen without greenhouse gas emissions, simply pure carbon powder (…)" said Jung Cheol Park, President of Wintech Energy.
"(…) Nothing will please us more than to welcome our future partners and clients to Seoul to present this technology in operation as soon as our Wintech colleagues give us the go-ahead (…)" said Dr. Sabin Boily, President and CEO of H2SX.
Investor Outlook
The installation of the Showcase Hydrogen Production Plant in Seoul marks a significant milestone for H2SX. This operational facility will provide interested parties the opportunity to witness the technology in action. Regardless of future scenarios for H2SX, the plant will enable independent third parties to conduct their own due diligence, offering concrete insights into the econometrics and technological challenges associated with running a modular hydrogen plant. Several major industry players have already expressed interest in performing these reviews within a live operational environment.
ON BEHALF OF THE BOARD OF DIRECTORS
"Neha Tally"
NEHA TALLY
Corporate Secretary of St-Georges Eco-Mining Corp.
About St-Georges Eco-Mining Corp.
St-Georges develops new technologies to solve some of the most common environmental problems in the mining sector, including maximizing metal recovery and full-circle battery recycling. The Company explores for nickel & PGEs on the Manicouagan and Julie Critical Minerals Projects on Quebec's North Shore and has multiple exploration projects in Iceland, including the Thor Gold Project. Headquartered in Montreal, St-Georges' stock is listed on the CSE under the symbol SX and trades on the Frankfurt Stock Exchange under the symbol 85G1 and as SXOOF on the OTCQB Venture Market for early-stage and developing U.S. and international companies. Companies are current in their reporting and undergo an annual verification and management certification process. Investors can find Real-Time quotes and market information for the company on www.otcmarkets.com
Visit the Company website at www.stgeorgesecomining.com
For all other inquiries: public@stgeorgesecomining.com
The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.
SOURCE: St-Georges Eco-Mining Corp.
View the original press release on accesswire.com
FAQ
What technology does Wintech Energy use for hydrogen production?
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