Minnova Corp. provided an update on ongoing design and testing of a new generation of gasification technology by DUMA Engineering (2018) Inc. ("DUMA") in collaboration with leading European Institutes that is capable of producing higher hydrogen content and tar free syngas than
existing technologies. Results from level 8 cold test work carried out earlier this year were positive and confirmed different fluid dynamics configuration options. Design and test work is ongoing and is expected to be finalized in the second quarter of 2022. Upon completion of final tests, global patents will be filed to protect this innovative gasification technology in parallel to ongoing commercialization discussions considering both licensing and build-own-operate options. In addition to supporting the development and commercialization of a proprietary new gasification technology Minnova Renewable Energy is expanding the company's research and development efforts to include analysis of biochar derived from pyrolysis to improve environmentally friendly processing techniques to produce graphite and graphene. Biochar already has demonstrated commercial uses ranging from soil enhancement to filtration systems but more recently offers potential to be a natural source of graphene. The planned research initiative will inform the company's strategy to maximize green hydrogen production and produce a high quality biochar with potential to be transformed to a commercial renewable graphene product.