Nasdaq GlobeNewswire

Siluria Technologies and Saudi Aramco Technologies Company join forces to maximize chemicals production

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SAN FRANCISCO, June 13, 2018 (GLOBE NEWSWIRE) -- Saudi Aramco Technologies Company, a subsidiary of the world's largest oil company, and Siluria Technologies, a leader in disruptive process technologies for the petrochemical and energy industries have executed a multi-plant technology license for the integration of Siluria's proprietary technology (natural gas to olefins) with Saudi Aramco's high-olefins cracking process technology.

Siluria's natural gas-to-olefins technology, based on oxidative coupling of methane chemistry, is available for license in stand-alone configurations, as well as integration within a wide range of existing process plants; including steam crackers, propane dehydrogenation units, oil refineries, and methanol plants.    By integrating Siluria's technology with existing facilities, operators can upgrade their methane-containing by-product streams from fuel to chemical value, improving carbon efficiency and production rates.

Robert Trout, Siluria's President and CEO said, "Converting methane containing off-gases to higher value chemicals adds meaningful economic value, while plant integration can deliver excellent capital efficiencies.  We are thrilled to be working with a company like Aramco towards some of the largest and most technologically advanced petrochemical facilities the industry has ever seen."

"As we engage more customers around the world, our clients are helping to discover new and exciting ways in which our technologies can be used to improve the economics, operability, and environmental footprint of their existing process plants," added Trout.

Ahmad Al Khowaiter, Chief Technology Officer of Saudi Aramco commented, "Maximizing the output of high-value chemicals products from our future crude oil processing projects is one of the key objectives in our downstream technology strategy."

He continued, "We see a strong fit with Siluria's "gas to olefins" technology in certain plant configurations, and look forward to collaborating further with Siluria to realize the value of these processes."

About Siluria:

Siluria Technologies is pioneering the commercial production of fuels and chemicals made from abundant natural gas and low value byproducts. Siluria's proprietary technologies address the global petrochemical industry's complex challenges of volatile commodity prices, shifting supply and demand patterns, stricter environmental regulations, and capitally intensive conventional technologies. Siluria's revolutionary catalyst and process technologies uniquely combine nanomaterials, catalyst development, and chemical engineering, to convert natural gas into higher-value products through efficient processes that can be seamlessly integrated into existing industry infrastructure.

For more information about Siluria, visit www.siluria.com

About Saudi Aramco

Saudi Aramco is a world leader in integrated energy and chemicals, driven by the core belief that energy is opportunity. From producing approximately one in every eight barrels of the world's crude oil supply to developing new energy technologies, our global team creates positive impact in all that we do. We focus on making our resources more sustainable and more useful, which promotes long-term economic growth and prosperity around the world.

Siluria Technologies
Beverly Jernigan
+1(713)494-1733
beverly@beverlypr.com

Contact
Saudi Aramco International Media Relations
Email: international.media@aramco.com
 
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/ba40bd87-c5dd-46da-9cba-832eae091fb1
         



This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Siluria Technologies via Globenewswire

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