ENG Receives Award for Renewable Fuels Feed Project Valued at Over $9 Million

HOUSTON, TX / ACCESSWIRE / February 1, 2023 / ENG (NASDAQ:ENG), a leading provider of innovative project delivery solutions for the energy industry, today announced it has received an award valued at over $9 million from Calgary-based Reconciliation Energy Transition Inc. (RETI) to perform the front-end engineering and design ("FEED") work for a 6,500 barrel per day (bpd) sustainable aviation fuel (SAF) and renewable diesel (RD) project as part of RETI's Calgary Region Green Energy Industrial Park.

The project, awarded to ENG on January 27, will commence immediately and is expected to be completed this year. This assignment follows ENG's recent completion of several 6,500 bpd SAF/RD plant projects.

"We're excited to announce this new renewable fuels project," said ENG senior vice president Marc van den Boom. "Together with our partners, we are proud to provide a proven, modularized and standardized SAF/RD solution that allows us to bring speed and predictability of project success to Canada's fast-moving energy transition."

"Sustainable aviation fuel is one of the most promising answers to the Energy Transition challenge, with Alberta and Canada already emerging as leaders. We are excited to be part of accelerating this transformation with Partners such as ENGlobal," said Stephen W. Mason, Chairman & CEO Reconciliation Energy Transition Inc.

Today's announcement follows one made by RETI in November 2022 that, along with ENGlobal and others, it had formed a partnership devoted to developing SAF/RD projects that will serve Canada's emerging SAF and RD production needs.

About ENG
ENG (NASDAQ:ENG) is a leading provider of complete project solutions for renewable and traditional energy throughout the United States and internationally. ENG operates through two business segments: Commercial and Government Services. The Commercial segment provides engineering, design, fabrication, construction and integration of automated control systems as a complete packaged solution for its clients. The Government Services segment provides engineering, design, installation, operations, and maintenance of various government, public sector, and international facilities, specializing in turnkey automation and instrumentation systems for the U.S. Defense industry worldwide. Further information about the Company and its businesses is available at www.englobal.com.

Safe Harbor for Forward-Looking Statements
The statements above regarding the Company's expectations, including those relating to its future results, its future operations and certain other matters discussed in this press release may constitute forward-looking statements within the meaning of the federal securities laws and are subject to risks and uncertainties. For a discussion of risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ENG's filings with the Securities and Exchange Commission, including the Company's most recent reports on Form 10-K and 10-Q, and other SEC filings.

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SOURCE: ENGlobal