Thermal Kinetics is Awarded Al-Corn Clean Fuels Sanitizer-Grade Ethanol Project
11 February 2021 - 8:15AM
RCM Technologies, Inc. (NasdaqGM: RCMT), a premier provider of
business and technology solutions designed to enhance and maximize
the operational performance of its customers through the adaptation
and deployment of advanced engineering, specialty health care, and
information technology services, today provided an update on its
recently obtained projects to assist its clients in producing
higher grades of ethanol for use in beverage and hygienic
applications such as sanitizer-grade ethanol. The recent projects
include both USP Grade (US Pharmacopeia) and GNS Grade (Grain
Neutral Spirits).
As industry scrambles to retool and pivot to assist in the fight
against Covid-19, demand for sanitizers has surged dramatically,
and the area is expected to see continued growth.
According to research published by Fior Markets, the global
hand sanitizer market is expected to grow from
$1.2 billion in 2019 to $2.1 billion by 2027, at a CAGR of 7.5%
during the forecast period 2019-2027. This anticipated growth has
led manufacturers to lean on professional service firms and
equipment suppliers to assist them in their new strategy and enable
them to deliver swift results.
Thermal Kinetics, a division of RCM Technologies (USA),
Inc., has been contracted by Al-Corn Clean Fuels to expand its
existing Fuel Ethanol facility to produce 20,000,000 gallons per
year of USP Grade Ethanol to meet the growing need for the
sanitizer market. “The Thermal Kinetics team installed the original
plant and it was important for us to maintain that continuity.
Additionally, Thermal Kinetics’ process design allowed us to
leverage energy integration from the installed systems to the new
production line,” said Thomas Harwood, COO of Al-Corn.
Thermal Kinetics is executing additional projects related to the
growing demand for sanitizer-grade ethanol. Thermal Kinetics has
been contracted by several other customers during the second and
third quarters of 2020 to provide detailed design engineering to
expand the production of sanitizer-grade ethanol to their existing
client bases in the North American market. In addition to Al-Corn,
the list of projects includes equipment supply to a second
customer. Both equipment supply contracts are slated for
commencement during the first quarter of 2021. Three other
facilities have contracted Thermal Kinetics to supply a detailed
upfront engineering package prior to equipment purchase. This
second group of plants should be operational in the third and
fourth quarter of 2021 with Thermal Kinetics anticipating that it
will provide the main equipment and engineering support.
“The demand for higher grade ethanol has outgrown product
availability due to the current Covid-19 pandemic,” stated Chris
Brown, Founder and President of Thermal Kinetics. “Traditional
corn-based ethanol plants require a range of $5 - $10 million in
additional equipment to convert fuel-grade ethanol to USP- or
GNS-grade ethanol suitable for sanitizers. Thermal Kinetics is well
suited for these projects. Our standard ethanol process offers the
best steam economy available. We have used similar design
engineering principles to ensure the USP- and GNS-grade upgrades
offer the most efficient design with respect to energy usage and
plant economics. Of particular importance is technology to recover
80% of the energy required from the base fuel ethanol plant. This
assures that existing plant infrastructure such as boiler and
cooling capacity remain unaffected.”
RCM completed the acquisition of Thermal Kinetics in November
2018. “The addition of Thermal Kinetics to RCM Technologies has
broadened our reach. The Thermal Kinetics engineering group offers
value-add solutions that are best in class and adds the equipment
supply element to the scope of our projects which we previously did
not have,” explains RCM Engineering Services President Frank
Petraglia. “It is exciting to witness the current growth and
potential of the Thermal Kinetics Projects Group.”
A photo accompanying this announcement is
available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/0425163b-e791-4986-b0e5-ac6854b20cf3
Pictured is a 50 million gallon per year (MMGPY) fuel ethanol
plant in California in early phases of construction. The site was a
greenfield host to a cogeneration facility. Based on client
measurements and reporting for carbon credits, this is the most
energy efficient plant in California and likely all of the US.
A photo accompanying this announcement is
available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/a362d9b6-b327-4ae1-912a-8c110994d86d
Pictured is the same fuel ethanol plant in
California at a later stage of construction.
About RCM and Thermal KineticsRCM Technologies,
Inc. is a premier provider of business and technology solutions
designed to enhance and maximize the operational performance of its
customers through the adaptation and deployment of advanced
information technology and engineering services. RCM is
an innovative leader in the delivery of these solutions to
commercial and government sectors. RCM is also a provider of
specialty healthcare services to major health care institutions and
educational facilities. RCM’s offices are located in major
metropolitan centers throughout North America and Serbia.
Additional information can be found at www.rcmt.com.
Since 1999, Thermal Kinetics has been providing full-service
process equipment supply, engineering, development, and design
services. Thermal Kinetics offers advanced energy-saving solutions,
patented technological integration, and sophisticated process plant
development – proudly matching each of their customers’ specific
needs with optimal productivity and profitability.
The Statements contained in this release that are not purely
historical are forward-looking statements within the Private
Securities Litigation Reform Act of 1995 and are subject to various
risks, uncertainties and other factors that could cause the
Company's actual results, performance or achievements to differ
materially from those expressed or implied by such forward-looking
statements. These statements often include words such as “may,”
“will,” “expect,” “anticipate,” “continue,” “estimate,” “project,”
“intend,” “believe,” “plan,” “seek,” “could,” “can,” “should,” “are
confident” or similar expressions. In addition, statements that are
not historical should also be considered forward-looking
statements. These statements are based on assumptions that we have
made in light of our experience in the industry, as well as our
perceptions of historical trends, current conditions, expected
future developments and other factors we believe are appropriate in
these circumstances. Forward-looking statements include, but are
not limited to, those relating to the impact of the COVID-19
pandemic, demand for the Company’s services, including Thermal
Kinetics’ services relating to sanitizer-grade ethanol projects.
expectations regarding our future revenues and other financial
results, our pipeline and potential project wins and our
expectations for growth in our business. Such statements are based
on current expectations that involve a number of known and unknown
risks, uncertainties and other factors, which may cause actual
events to be materially different from those expressed or implied
by such forward-looking statements. Risk, uncertainties and other
factors may emerge from time to time that could cause the Company’s
actual results to differ from those indicated by the
forward-looking statements. Investors are directed to consider such
risks, uncertainties and other factors described in documents filed
by the Company with the Securities and Exchange Commission,
including our most recent Annual Report on Form 10-K and subsequent
Quarterly Reports on Form 10-Q. The Company assumes no obligation
(and expressly disclaims any such obligation) to update any
forward-looking statements contained in this release as a result of
new information or future events or developments, except as may be
required by law.
RCM Technologies, Inc. |
Tel: 856.356.4500 |
Corporate Contacts: |
2500 McClellan Avenue |
Fax: 856.356.4600 |
Bradley S.
Vizi |
Pennsauken, NJ 08109 |
info@rcmt.com |
Executive Chairman |
|
www.rcmt.com |
Kevin D.
Miller |
|
|
Chief Financial Officer |
|
|
|
RCM Technologies (NASDAQ:RCMT)
Historical Stock Chart
From Apr 2024 to May 2024
RCM Technologies (NASDAQ:RCMT)
Historical Stock Chart
From May 2023 to May 2024