Fulcrum BioEnergy's United Kingdom Waste-To-Fuels Project Awarded £16.8 Million Grant from the UK Department for Transport Advanced Fuels Fund

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Feb 16, 2023, 11:00 ET

Grant Award Demonstrates Fulcrum NorthPoint's Significance in Supporting the UK Government's Commitment to Reducing Carbon Emissions from the Aviation Industry

PLEASANTON, Calif., Feb. 16, 2023 /PRNewswire/ -- Fulcrum BioEnergy, Inc., a clean energy company pioneering the creation of renewable, drop-in transportation fuels from landfill waste, today announced that its United Kingdom subsidiary, Fulcrum BioEnergy, Ltd., has received a grant of approximately £16.8 million, USD $20.2 million, from the UK Department for Transport Advanced Fuels Fund. The grant, which runs through to 2025, will support development of Fulcrum NorthPoint, a residual waste to sustainable aviation fuel (SAF) facility which will be located at the Essar Stanlow Manufacturing Complex in Ellesmere Port, Cheshire in North West of England. Funds from the grant will be utilized to fund engineering activities for the plant, which is expected to have the capacity to transform about 600,000 tonnes of residual waste into approximately 100 million liters of low-carbon SAF per year when it enters operations in 2027.

"We are very pleased to have been selected and awarded this grant from the UK Department for Transport Advanced Fuels Fund," said Eric Pryor, Fulcrum's President and Chief Executive Officer. "Fulcrum applauds the UK Government and the Department for Transport for taking another step toward significantly reducing net carbon emissions for hard to abate sectors, including aviation, through the support of low-carbon SAF projects, including our Fulcrum NorthPoint facility. This funding furthers our engineering efforts for the plant and well positions Fulcrum for additional project financing for the facility. We look forward to bringing our patented process, technical expertise, IP and experience from the successful commissioning and initial operations of our first commercial-scale plant to the UK to make Fulcrum NorthPoint a success."

Fulcrum recently announced the successful production of low-carbon synthetic crude oil from landfill waste at its Sierra BioFuels Plant, the world's first commercial-scale waste-to-fuels plant, located outside of Reno, Nevada in the U.S. The Company has developed an innovative process for transforming a true waste product into a valuable low-carbon transportation fuel for the aviation industry. Fulcrum expects to utilize a standardized, scalable, low-cost approach for larger future projects, including Fulcrum NorthPoint, replicating the successful process at Sierra, which is backed by patents and capitalizes on the intellectual property developed by the Company in its engineering and start-up operations of this first-of-its-kind plant.

About Fulcrum

Based in Pleasanton, California, Fulcrum is leading the development of a reliable and efficient process for transforming waste into net-zero carbon transportation fuels, including sustainable aviation fuel and diesel. The Company's innovative process, which utilizes landfill waste as a feedstock, is expected to reduce greenhouse gas emissions by approximately 100% compared to traditional fuel production, contributing to the aviation industry's carbon reduction goals.

Beginning with the Sierra BioFuels Plant, Fulcrum's plants will provide customers with low-carbon transportation fuel that is competitively priced with traditional petroleum fuel. The Company is advancing on its large commercial growth program of net-zero carbon waste-to-fuels plants across North America and in select international markets with a planned production capacity of approximately 400 million gallons per year. Fulcrum, a privately held company, has aligned itself and entered into strategic relationships with industry leaders in the waste, aviation and energy sectors to further strengthen and accelerate the Company's patented and proprietary approach to commercially producing large volumes of renewable fuel from landfill waste. For more information, please visit www.fulcrum-bioenergy.com.

Media Contact:

Rick Barraza, Vice President

Fulcrum BioEnergy, Inc.

(925) 224-8244

[email protected]

Investor Contact:

Greg Heinlein, VP & CFO

Fulcrum BioEnergy, Inc.

(925) 224-8256

[email protected]

UK Contact:

Jeff Ovens, Managing Director