Syntholene Energy Corp. (TSXV:ESAF) Completes Phase One Testing, Initiates High-Power Operations at Iceland Demonstration Facility

Chicago, Illinois — September 8, 2026 — Leads & Copy — Syntholene Energy Corp. announced today the successful completion of Phase One testing at its geothermally-integrated Solid Oxide Electrolyzer Cell (SOEC) demonstration facility in Húsavík, Iceland. The company has now commenced high-power operations for Phase Two of its testing program.

Phase One focused on extended operation of the integrated SOEC, its proprietary Thermal Coupling Heat Exchanger, and associated balance-of-plant systems. This phase generated a significant dataset to characterize system efficiency, thermal integration, and operational stability, providing a foundation for the company’s anticipated commercial architecture.

“Phase One successfully operated the integrated system for an extended period, and generated novel real-world data required to characterize its performance,” said Dan Sutton, Chief Executive Officer of Syntholene. “With that phase complete, our focus now shifts to high-power operations. Phase Two is intended to characterize the system at higher operating loads and provide a second operating dataset from which we can evaluate the wider capability of our thermal-hybrid architecture.”

The Demonstration Facility is now in the second phase of its testing, which involves sustained operation at or near the facility’s full available power capacity. Syntholene expects Phase Two to yield further data on electrical efficiency, hydrogen production, thermal integration, system stability, and performance under higher-load conditions.

This data, combined with the Phase One dataset, is intended to provide a comprehensive characterization of the facility across various operating conditions. This information will inform subsequent engineering optimization, technoeconomic analysis, and the development of commercial-scale projects.

Syntholene’s testing program is designed to progressively assess the performance of the integrated system before drawing conclusions about its potential commercial applications. The company is investigating whether its geothermal integration can reduce or eliminate the need for battery electric and/or hydrogen storage, how effectively geothermal heat can displace electrical energy in hydrogen production, and the resulting economic implications for hydrogen and synthetic fuels.

“High-power operations are an important next step in establishing that operating envelope,” Sutton added.

The company anticipates completing Phase Two high-power operations within the coming months. Following completion, the data will be submitted for independent validation by a third party with relevant expertise.

Syntholene is working to commercialize its Thermal Hybrid Production System, aiming to produce ultrapure synthetic jet fuel at a significantly lower cost than competing technologies. The company’s objective is to be the first to deliver high-performance, low-cost, carbon-neutral synthetic fuel at an industrial scale, potentially making clean synthetic fuel more affordable than fossil fuels.

The company operates the world’s first geothermally-integrated high-temperature electrolysis demonstration facility in Húsavík, Iceland, currently producing 99.99% purity hydrogen. Syntholene was founded by individuals with expertise in advanced energy infrastructure, nuclear technology, low-emissions steel refining, process engineering, and capital markets, with the goal of delivering a scalable modular production platform for cost-competitive synthetic fuel.

Source: Syntholene Energy Corp

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