ENGlobal Enters US$20 Million Renewable Diesel Agreement

ENGlobal Corporation (NASDAQ:ENG), a company that provides automation and engineering services to the energy industry announced that it has entered a US$20 million deal with an unnamed renewable diesel firm. Contracted to build a hydrogen production facility, ENGlobal will provide automation and process modules for the projects.

As quoted in the press release:

The hydrogen unit design utilizes Haldor Topsoe technology.  This highly efficient synthesis gas process consumes approximately 20% less feed and fuel gas than conventional hydrogen plants, and produces no excess steam, leading to substantially lower operating costs and a far smaller carbon footprint. It will mark the first time this innovative technology will be used in the United States, after more than 40 successful implementations worldwide.

“This agreement is a significant event in the history of ENGlobal,” said Chairman and CEO William A. Coskey, P.E. “Not only does it introduce to the U.S. market an efficient and environmentally-friendly syngas process, it also validates our strategic shift toward providing higher-revenue modular process systems that utilize differentiated technology. We fully expect this win to greatly enhance our ability to secure additional modular systems business using this and other related technologies.”

Click here to read the full press release.