As a response to the global requirement for renewable transportation fuels that are economically viable and fungible with existing petroleum infrastructure, Steeper has proven and now is commercializing its proprietary hydrothermal liquefaction (Hydrofaction®) technology. Hydrofaction facilitates the efficient conversion of sustainable sources of biomass such as forestry or agricultural resides to a low oxygenated biocrude oil.

Steeper has also developed techniques, many proprietary, for the upgrading of its biocrude oil to finished fuels – either directly or via co-processing with fossil cuts such as VGO. Hydrofaction makes possible the development of advanced biofuel projects to supply sustainable, lignocellulosic-derived, renewable fuels directed mainly at the heavy and long-haul transport sector.

Steeper aims to make Hydrofaction® broadly available and the most commercially viable technology for producing renewable biofuels in tangible volumes. The Company aspires to be able to supply multiple projects with technology, expertise and development support including engineering within the next few years. Further, Steeper expects to continue to optimize Hydrofaction® through its early implementation at its Tofte, Norway demonstration plant as well as initial commercial facilities across Canada, Europe and the United States.

Hatch is a global engineering and management consultancy company with more than 9,000 staff around the globe. Areas of focus include urban solutions and smart cities, sustainable business, and responsible energy.

Steeper and Hatch wish to build a strategic relationship that might result in accelerating market deployment and confidence in Hydrofaction®. Hatch wishes to gain expertise in the delivery of Hydrofaction® to projects and more generally expand its reach in the proliferation of sustainable technologies.