Nasdaq GlobeNewswire

Siluria Technologies and Wood Launch Modus(TM), the First Process Technology to Convert Low Value Offgas into Refinery Products

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New process technology enables petroleum refiners to convert offgas streams to high octane, low sulfur gasoline blendstock, resulting in enhanced profitability

SAN FRANCISCO and ABERDEEN, Scotland, Dec. 06, 2017 (GLOBE NEWSWIRE) -- Siluria Technologies, a leader in developing disruptive process technologies for the petrochemical and energy industries, and Wood (WG.L), a global leader in the delivery of project, engineering and technical services to energy and industrial markets, announce the availability of the ModusTM process technology for petroleum refiners. 

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/f391f93c-e417-4616-81b9-029299cc6eaf

Jointly developed by Siluria and Wood, Modus provides a proven and cost-efficient, one step process to upgrade low value refinery offgases, otherwise burned for heat, into high value fungible refinery products. Modus expands revenue sources and ultimately increases profitability.

The Modus process is based on a commercially proven catalyst system that converts light olefins, such as ethylene and propylene often contained in refinery offgas streams, to high-quality gasoline blendstock with a 90+ octane rating and ultra-low sulfur content.

"Many refinery offgas and fuel streams contain varying amounts of olefins, which require complex and costly solutions to recover.  As a result, these valuable streams are often burned for fuel or heat," said Robert Trout, Siluria's President and CEO. "Modus provides a simple, reliable alternative by upgrading these fuel-value streams to more valuable liquids that can be easily integrated into the refinery product slate."

"Modus provides multiple benefits to refiners including greater operational flexibility and the potential for emissions reductions, without disruption to continuous operations of the refinery," said Robin Watson, chief executive of Wood. "This technology creates and enhances value for our customers through a unique chemical conversion to provide a valuable product stream for the refinery."

Modus can be readily integrated into existing refinery operations with minimal capital investment and operating impacts.  Based on standard modular design and construction, Modus can be rapidly deployed as a standalone upgrade during routine maintenance turnarounds or revamp projects.

Modus is now available to customers worldwide under standard industry licenses.  For more information contact Siluria at sales@siluriatech.com or Wood at press.office@woodplc.com

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 Wood:
Wood is a global leader in the delivery of project, engineering and technical services to energy and industrial markets. We operate in more than 60 countries, employing around 55,000 people, with revenues of over $11 billion. We provide performance-driven solutions throughout the asset life-cycle, from concept to decommissioning across a broad range of industrial markets including the upstream, midstream and downstream oil & gas, chemicals, environment and infrastructure, power & process, clean energy, mining and general industrial sectors. We strive to be the best technical services company to work with, work for and invest in. www.woodplc.com

Media Contacts:

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

Wood
press.office@woodplc.com



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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