Expander Energy, IMG Industries Partner to Launch Expander Technologies Inc.

Expander Energy has formed a partnership with IMG Industries to establish Expander Technologies Incorporated (ETI). Under a licensing agreement, ETI will manufacture Expander Energy's patented biomass gasifiers. The unique design of these gasifiers enables them to produce tar-free synthesis gas ("syn-gas") from various cellulosic feedstocks, such as forestry and agricultural waste, urban wood waste, and municipal solid waste. Utilized in conjunction with Expander's Enhanced Biomass to Liquids ("EBTL") process, this syn-gas will contribute to the production of low-carbon-intensity renewable fuel.

The gasifier technology, previously implemented in Europe for generating green power from woody biomass feedstock, has been proven to deliver high operational efficiencies. ETI's initial project will be the construction of a gasifier for the recently announced Expander Bio-SynDiesel Project in Carseland, Alberta. Expected to commence production in mid-2025, this project will generate an annual 8 million liters of renewable Bio-Synthetic Diesel fuel, boasting an estimated Carbon Intensity (CI) of 32.5 gCO2e/MJ, thus significantly surpassing Canada's Clean Fuel Standard requirement of 79.0 gCO2e/MJ for diesel fuel by 2030.

For the Carseland project, Expander Energy Inc. has commissioned ETI to build the gasifier. Furthermore, ETI is recognized as an 'Eligible Corporation' under the British Columbia Venture Capital Tax Credit Program, allowing qualifying British Columbia individuals and corporations to avail of a 30% provincial tax credit. ETI has also signed a share sale agreement with ABCT Pacific, a provincially certified Venture Capital Corporation in British Columbia, thus enabling qualifying individuals and corporations in the province to access a 30% British Columbia tax credit through share investment.

Reflecting on the formation of ETI, Expander Executive Chairman and CFO, James Ross, stated, "This significant milestone in Expander Energy's commercialization process is achieved through our partnership with IMG Industries. By manufacturing our patented gasifier design in British Columbia, we are strategically positioned to meet the market demand for low carbon intensity and renewable fuels."