Calgary, Alberta--(Newsfile Corp. - June 23, 2026) - Cerilon GTL ND Inc. ("Cerilon") is pleased to announce that it has reached an agreement for a single point technology licensing structure with Topsoe and Sasol South Africa Ltd ("Sasol") for the hydrogen production, gas reforming, and Fischer Tropsch conversion components of Cerilon's Gas-To-Liquids ("GTL") facility in Williams County, North Dakota. The parties have completed negotiations on all definitive technology licensing agreements with execution of the agreements subject to the achievement of project financing. This single point license will combine the proven expertise of Topsoe and Sasol as global providers of advanced process technologies for the production of fuels and chemicals.

"This milestone is an important step in progressing our foundational GTL project and we now have all key technology agreement principles in place. By aligning with technology partners that have decades of proven hydrogen production, gas reforming, and GTL experience we are strengthening the technical and commercial foundation of our North Dakota project," said Nico Duursema, CEO of Cerilon Inc. "The combination of Topsoe's advanced syngas and clean fuels technologies, Sasol's Fisher-Tropsch expertise, our team members' past positive experience with these licensors, and the application of carbon capture at this facility will allow us to deliver premium products with reduced environmental footprint while creating long-term value for our stakeholders."

Cerilon's innovative GTL facility will transform natural gas into unique, high-performance synthetic products, including industry-leading Group III+ base oils, ultra-low sulphur diesel, and naphtha. Cerilon is establishing global, industry-leading partnerships to deliver this pioneering GTL facility, which will be followed by replicated GTL facilities. Cerilon has selected a site in North Dakota for its first GTL project and has secured key regulatory approvals for a two-facility development that leverages local infrastructure.

"We are very excited to have reached agreement with Cerilon on the Topsoe and Sasol single point technology licensing structure for using Topsoe's SynCOR™ and Sasol's LTFT technologies at Cerilon's GTL facility. It is a pleasure working with a professional organization like Cerilon capable of progressing such a unique GTL project in North Dakota, and it will make a huge difference in the local community," said Henrik Rasmussen, Managing Director of Topsoe Americas.

"Sasol's Fischer-Tropsch technology is a proven, world-leading energy technology renowned for its reliability, scalability and unmatched performance. Through a decades-long partnership with Topsoe, this single-point technology licensing model becomes a powerful, highly effective energy solution. We're proud that Cerilon has selected Sasol for its GTL facility, and we look forward to delivering an integrated FT solution that de-risks the project, drives superior product yields and strengthens overall bankability," said Sarushen Pillay, Executive Vice President for Business Building, Strategy and Technology at Sasol.

Cerilon is an international, privately-held corporation, headquartered in Calgary, Alberta. The company is focused on developing and managing a portfolio of energy transition, chemical and professional services companies. An unwavering ESG-focus, long-term partnerships, strategic agility and the ability to rapidly integrate technological advancements enhance project replicability, speed-to-market and return on investment. Cerilon is well positioned to provide energy transition solutions and expertise that can help create a better future.

-30 -

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/302450