Minnova announces biomass gasification tests achieve >50% H2 recovery to syngas. Global expansion as a Cleantech company is ongoing | Daily News Byte

Toronto, Ontario – Minnova Corp. (TSXV: MCI) (OTC Pink: AGRDF) (‘Minnova‘ or ‘the Company’) clean technology and gold mine development company is pleased to announce positive biomass gasification test results and other business development opportunities:

Positive results of the gasification test for the corn stove from Romania and pineapple scraps Costa Rica.

>50% H2 content in syngas was achieved.

Identified possibilities for further increasing the content of H2 in syngas.

Discussions with major equipment manufacturers (power generation) for direct syngas to power generation have been initiated.

Gasification technology selected for participation in the Canadian Technology Accelerator program Southeast Asia climate goal of net zero carbon emissions

Positive results of biomass gasification tests

The test work was done on University of Teramo, Italy, Department of Biosciences and Agro-Food and Environmental Technologies under surveillance Prof. Ing. Sergio Rapagna. Corn and pineapple waste samples were dried and pelletized in a commercial pellet plant to approximate future industrial operations (see Figure 1).

Pelletized samples were fed into a fluidized bed reactor designed by DUMA and gasified under controlled conditions. The obtained syngas flow rates and H2 content exceeded expectations (minimum target of 50% H2) for corn and pineapple samples. See Table 1 for a summary of test results.

The concentration of tar in syngas for both samples was consistent with the results of testing comparable biomasses. Observations during testing suggest that it is possible to further improve the quality (% H2 content) and volume (gas yield Nm3/kg daf) of the obtained syngas by adjusting some operating parameters.

With the positive results of gasification we are now in a position to start detailed techno-economic studies on project initiatives in Costa Rica and Romania. In-country work will include seeking biomass supply contracts, commercial off-take contracts for green H2, electricity or by-product heat and final commercial site selection.

The company is also pleased to announce that it has been selected to participate in the Canadian Technology Accelerator (CTA) program with the specific goal of Southeast Asia climate goal of net zero carbon emissions between 2050 and 2065. Selected companies have demonstrated marketable, innovative technologies at a Technical Readiness Level (TRL) of 6 or higher. The choice of our third-generation biomass gasification technology represents an opportunity to take a leading role in decarbonisation Southeast Asia energy production infrastructure by incorporating our technology that can produce green H2, electricity and a range of other valuable biofuels. Global Affairs Canada’s CTA program helps Canada’s high-potential, high-tech SMEs accelerate their growth.

Southeast Asia The goal of reducing carbon emissions is ambitious, with the current energy supply dominated by fossil fuels (coal, oil and natural gas). Biomass can represent the only viable, neutral, sustainable and safe substitute for current base load electricity generation. The regions diverse biomass waste supply (eg agricultural residues, woody biomass, animal waste and municipal solid waste) combined with high growth, an industrialized economy and a commitment to reducing carbon emissions meet our general site selection criteria.

Gordon Glennpresident and CEO Minnova Corp. comments: “These are impressive test results that confirm our belief in our technology and that biomass gasification can be a technically viable and cost-effective route to large-scale green hydrogen production.” The results not only exceeded our expectations, but there is potential to further increase the hydrogen content of the syngas. Our selection to participate in the Southeast Asia CTA program is further confirmation that our 3rd generation biomass gasification technology is a marketable technology that offers a real carbon neutral solution for the production of green hydrogen and energy from locally available waste biomass worldwide. A market opportunity that Southeast Asia represents an extremely attractive and complementary addition to our existing global development pipeline consisting of Canada, Europe, Central Americaand Africa. Our transition to an operational, clean company is accelerating and we will continue to innovate and acquire or develop intellectual property related to green hydrogen, renewable energy generation and other carbon reduction technologies around the world.’

About Minnova Corp.

Minnova Corp. is a clean technology company that develops and builds a worldwide range of green energy projects. Our subsidiary, Minnova Renewable Energi, is focused on innovative carbon reduction technologies, such as the 3rd generation biomass gasification technology developed by DUMA Engineering (2018) Inc. September 30, 2022 Minnova owns a 50% stake in DUMA. The acquisition of the remaining 50% interest will consist of a combination of cash payments and shares and will be subject to several conditions, including; a) long-term performance testing of a demonstration plant for the production of syngas with 50% hydrogen content, b) other techno-economic and environmental considerations, and c) filing of patent applications. In addition to receiving all regulatory approvals.

Before 2021 Minnova Corp. focused on restarting his PL gold minewhich included the completion of a Positive Feasibility Study in 2018. The study concluded the restart PL Mine, with an average annual production rate of 46,493 ounces over a minimum 5-year mine life, was economically robust. It is important that global resources remain open to expansion, as do reserves. Gold mine PL benefits from a short 15-month pre-production forecast timeframe, valid underground mining permit (Environmental Law 1207E), existing 1,000 tpd processing plant, over 7,000 meters of developed underground ramp to -135 meters depth. The project is fully accessible by road and close to existing mining infrastructure in fertile Flin Flon Greenstone Belt of Central Manitoba.

Contact:

Investor

T: 647-985-2785

Email: info@minnovacorp.ca.

Website: www.minnovacorp.ca

Forward-looking statements

This press release contains “forward-looking information” within the meaning of applicable Canadian securities law. Forward-looking information includes, but is not limited to, information regarding the Company, including management’s assessment of future plans and operations, which may include risks associated with mining exploration and development, price volatility, currency fluctuations, inaccuracies in resource estimates, environmental and permitting risks, access to labor and services, competition from other companies and the ability to access sufficient capital. As a result, actual results may differ materially from those anticipated in the forward-looking statements. Even though Minnova has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information, there may be other factors that cause results to differ from those expected, estimated or predicted. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Minnova undertakes no obligation to update any forward-looking information except in accordance with applicable securities laws.