Montauk Renewables Awarded Patent for Near-Zero-Emissions Renewable Energy Technology
PITTSBURGH, Aug. 26, 2021 (GLOBE NEWSWIRE) -- Montauk Renewables, Inc. (“Montauk” or “the Company”) (NASDAQ: MNTK), a renewable energy company specializing in the management, recovery and conversion of biogas into renewable natural gas (“RNG”), today announced the Company has been awarded patent number US11,097,245, issued by the U.S. Patent & Trademark Office (USPTO), covering 24 unique elements of its Electric-Powered, Closed-Loop, Continuous-Feed, Endothermic Energy-Conversion Systems and Methods (“the System”).
The System enables near-zero-emissions conversion of agricultural waste into multiple non-fossil, renewable-fuel alternatives, is capable of producing approximately 10-units of renewable energy for each unit of conventional energy consumed and sequestering approximately 25-tons of greenhouse gas equivalent emissions (CO2e) for every single ton emitted. The System is driven by a continuous-feed, closed loop reactor that can scale modularly to address the environmental challenges of industrial agriculture, regardless of location or size.
“We are excited to announce that the US Patent Office has recognized the uniqueness of our technology and granted this patent, which will enable Montauk to continue to pioneer new approaches to address the environmental impacts of industrial agriculture, while further diversifying our product offerings in the renewable energy economy,” said Sean McClain, Montauk Renewables CEO.
As previously announced, Montauk intends to initially deploy its newly patented technology through a large-scale development project in North Carolina. The now patented System has the potential to generate expansive growth opportunities through systematic nation-wide deployment and global licensing agreements.
About Montauk Renewables, Inc.
Montauk Renewables, Inc. (NASDAQ: MNTK) is a renewable energy company specializing in the management, recovery and conversion of biogas into RNG. The Company captures methane, preventing it from being released into the atmosphere, and converts it into either RNG or electrical power for the electrical grid (“Renewable Electricity”). The Company, headquartered in Pittsburgh, Pennsylvania, has more than 30 years of experience in the development, operation and management of landfill methane-fueled renewable energy projects. The Company has current operations at 15 operating projects located in California, Idaho, Ohio, Oklahoma, Pennsylvania, North Carolina and Texas. The Company sells RNG and Renewable Electricity, taking advantage of Environmental Attribute premiums available under federal and state policies that incentivize their use. For more information visit https://ir.montaukrenewables.com
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