Steeper Energy enters agreement with Topsoe to introduce complete waste-to-biofuel solution

• Steeper Energy (Steeper) and Topsoe sign a global licensing agreement for Steeper's Hydrofaction^® technology, enabling Topsoe to offer a complete waste-to-fuel solution.
• The agreement grants Topsoe the right to sublicense Steeper's Hydrofaction^® technology, used for converting biomass to renewable biocrude oil.
• The agreement accelerates the deployment of advanced biofuels produced from waste biomass such as residues from forestry and agriculture. This is a strong pathway to renewable fuels for the transportation sector including road, aviation and shipping.

COPENHAGEN, Denmark, Jan. 26, 2023 /PRNewswire/ - Topsoe, a global leader in carbon emission reduction technologies, and Steeper, a pioneer within biomass conversion technologies, have today signed a global licensing agreement for a complete waste-to-fuel solution. The agreement combines Topsoe's unique technologies in renewable fuels and hydrogen production as well as decades of experience in engineering, with Steeper's proprietary Hydrofaction^® technology and industry know-how.

With the agreement, Topsoe will be able to provide a complete waste-to-fuel technology solution and at the same time a one-stop solution for refineries, project developers, and industries having access to excess waste biomass. The end-products include Sustainable Aviation Fuel (SAF), marine biofuel, and renewable diesel from waste biomass.  

Peter Vang Christensen, Senior Vice President, Clean Fuels & Chemicals – Technology, Topsoe, said:
"We are excited to work with Steeper and to combine our technological capabilities. This will make it easier for refineries and project developers to access the technology they need for advanced biofuels. It will also allow them to access new renewable feedstocks while supporting decarbonization of the transportation sector, not least aviation and shipping."

Bevan May, President, Steeper Energy, said:
"Steeper recognizes Topsoe as a world leader in developing and implementing renewable refining technologies. Steeper's Hydrofaction^® process, when combined with Topsoe's technology, completes the pathway from biomass waste to drop-in liquid fuels and is compatible with existing refining infrastructure. This reduces capital requirements and allows for the accelerated deployment of these solutions. We are excited to combine our efforts with Topsoe and bring our joint solution to the renewable liquid fuels market."

Steeper's Hydrofaction^® has been validated through various stages of continuous pilot and demonstration-scale plant operations over the past 10 years.

With this agreement, the parties are working towards the first commercial scale deployment of Hydrofaction^® technology.

What is Hydrothermal liquefaction
Hydrothermal liquefaction (HTL) applies supercritical water as a reaction medium for the conversion of biomass directly into a high-energy density renewable biocrude oil. Steeper's unique process mimics and accelerates nature by subjecting wet biomass to heat and high pressure. The process conditions are carefully chosen to promote reaction pathways that favor high yields of high-quality renewable oil. With Steeper's Hydrofaction^® technology it is possible to convert up to 85% of incoming biomass on an energy basis, making it one of the most effective conversion technologies available.

About Topsoe 
Founded in 1940, Topsoe is a leading global developer and supplier of decarbonization technology, catalysts, and services for the energy transition. 

Our mission is to combat climate change by helping our partners and customers achieve their decarbonization and emission-reduction targets, including those in hard-to-abate sectors such as aviation, shipping, and the production of raw materials. From carbon reduction chemicals to renewable fuels and plastic upcycling, we are uniquely positioned to aid humanity in realizing a sustainable future. 

Topsoe is headquartered in Denmark, with over 2,100 employees serving customers all around the globe. To learn more, visit www.topsoe.com.  

About Steeper Energy
Steeper Energy was founded in 2011 and is backed by TOM Capital. Steeper today engages a team of scientists, engineers, and support staff advancing Steeper's core technologies and supporting the build-out of commercial projects. Steeper is headquartered in Denmark and has locations in Canada. TOM Capital is a Canadian-based private equity firm with investments in numerous industries.

To learn more about TOM Capital or Steeper Energy, visit  www.tomcapital.com or www.steeperenergy.com respectively.

SOURCE Steeper Energy