ENGlobal Corporation (ENG)

[Timetravelerdos]

ENGlobal Issues Update on Progress of Modular Hydrogen Plant and Developing Green Energy Opportunities

ENG a leading provider of engineered modular solutions, today issued a progress report on the company's contract, signed in November 2019, to engineer and fabricate a complete modular hydrogen production facility. This facility, the first of its kind constructed in the U.S., will utilize a hydrogen reforming technology developed by our collaboration partner that consumes 20 percent less feed and fuel gas than that of conventional hydrogen plants, thereby substantially lowering operating costs and the related carbon footprint. In this application the carbon intensity of the hydrogen plant is further lowered by recycling gasses produced by the adjoining renewal diesel unit.

The project, valued at approximately $25 million, remains on schedule and within the company's estimated cost budget, said ENGlobal. To date, the company has completed the engineering and design phase of the facility and is currently involved in the fabrication phase of its 24 process modules and supporting structure. Thus far, all major components necessary for the module completion have been received and are being installed. Following this step, the modules are expected be tested and shipped to the customer in stages between now and June 1, 2021.

CEO William A. Coskey, P.E. said he believes that, due to the number and diversity of end products produced via hydrogen reformer technology, there exists significantly increased market demand for the company's modular plant project delivery. These end products include fuel grade hydrogen for use in fuel cells; hydrogen for use in the hydrotreating process that produces renewable fuels; and hydrogen to generate products including ammonia and methanol, which have common applications around the globe.


ENGlobal is currently pursuing projects with typical scopes of work ranging between $20 and $120 million with a variety of applications and end uses.

https://finance.yahoo.com/news/englobal-issues-progress-modular-hydrogen-130000166.html