HyOrc Restructures Portugal Joint Venture Following €6.7 Million STEP Grant Approval
HOUSTON, Sept. 02, 2026 (GLOBE NEWSWIRE) — HyOrc Corporation (OTCQB: HYOR), an integrated clean energy infrastructure and technology company, today announced the completion of a revised joint venture structure with its Portuguese partner, MO.RE.DA. Oils, Lda., significantly reducing HyOrc’s capital requirements for the expansion of its green methanol operations in Portugal.
Under the revised structure, HyOrc’s funding obligation is limited to the initial commercial module, designed to produce approximately one tonne per day of green methanol from three tonnes per day of refuse-derived fuel (RDF). HyOrc’s obligation for this initial module is already fully funded.
Responsibility for financing subsequent expansion phases will rest with the joint venture.
The restructuring follows the approval of €6.7 million in non-dilutive funding under the European Union’s Strategic Technologies for Europe Platform (STEP) for the next phase of the Portugal project. The expansion is designed to process approximately 35 tonnes per day of RDF and produce approximately eight tonnes per day of green methanol.
“Together, the STEP grant approval and the restructured joint venture materially reduce our capital requirements for scaling Portugal,” said Reginald Fubara, Chief Executive Officer of HyOrc Corporation. “We’ve addressed the expansion financing question without dilution to shareholders, and our focus now turns to delivering our first commercial module.”
Next Milestone
HyOrc’s initial one tonne-per-day methanol module is currently undergoing final preparation and pre-assembly. Factory testing of the complete system is targeted for completion by the end of September 2026, providing the final validation step before deployment.
Following successful factory testing, the modular system will be prepared for shipment to Portugal shortly thereafter, where installation and commissioning will begin at the Company’s first commercial green methanol facility.
The Porto project represents the first commercial deployment of HyOrc’s RDF-to-green-methanol technology, converting non-recyclable waste into synthesis gas and subsequently into green methanol.
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.
