Mr. Dan Sutton reports

SYNTHOLENE PUBLISHES INDEPENDENT VALIDATION OF STEP-CHANGE COST REDUCTION FOR SYNTHETIC JET FUEL

Syntholene Energy Corp. has published an independent technical and economic report that validates its thermally integrated synthetic fuel production pathway is technically feasible and a viable engineering route to low-cost hydrogen and synthetic aviation fuel production.

The report was authored by Robert Rapier, a globally recognized oil and gas expert with a reputation for rigorous analysis of fuel production systems. He determined that Syntholene's thermally integrated electrolysis platform is engineered to deliver unsubsidized hydrogen production costs in the range of $1.50 to $2 per kilogram under favourable conditions. Hydrogen is the dominant cost in synthetic aviation fuel production, and generating it at low cost is central to achieving cost-competitive synthetic fuel. Current unsubsidized estimates of analogous green hydrogen prices include $6.69 per kilogram in Europe and $6.90 per kilogram in North America.

"Syntholene offers a credible path to low-cost, zero-carbon hydrogen and synthetic aviation fuel, with the potential to become a cornerstone of industrial decarbonization and clean fuel production," said Mr. Rapier. "Some of the projects I see are alchemy. Syntholene's is not. It's technically viable. It's now a matter of testing and proving, and the remaining challenges have been identified and can be solved."

Mr. Rapier has led and reviewed projects across the major alternative fuel pathways, including gas-to-liquids (GTL), vegetable-oil-to-diesel and biomass-to-liquids through Fischer-Tropsch (FT). After receiving degrees in chemistry, mathematics and chemical engineering, he worked at ConocoPhillips on hydrogen production and FT upgrading challenges. He was later recruited to serve as editor-in-chief of Shale Magazine and has covered the energy sector for Forbes for over a decade.

"Mr. Rapier is one of the most respected, credible and skeptical experts across the alternative fuel sector," said Dan Sutton, chief executive officer of Syntholene. "To have earned his validation of our technical and economic viability is a watershed moment for Syntholene as we continue construction on our demonstration facility and work to make synthetic aviation fuel an economically competitive reality."

Technical and economic assessment report

The report evaluates the technical, economic and operational viability of Syntholene's process and is intended to support investor diligence and reinforce the commercial feasibility of its technology.

The report confirms that, by substituting heat for a portion of its electricity demand, Syntholene's system can operate using less than 37 kilowatt-hours per kilogram of hydrogen (kWh/kg H2). The company's process has the potential to produce hydrogen and synthetic aviation fuel at a cost competitive with fossil-derived aviation fuel.

The report also confirms that key materials required for Syntholene process, including ceramic electrolytes, nickel catalysts and stainless-steel interconnects, are less constrained compared with those used in conventional PEM (proton exchange membrane) electrolyzers, giving Sytholene a potential advantage in long-term scalability, cost stability and resilience to geopolitical supply risks.

Notably, the report identified the remaining scaling and development challenges as engineering and integration problems with defined solutions, rather than scientific unknowns. The report evaluates challenges such as securing competitive long-term energy offtakes, sourcing carbon and construction risks as non-trivial but tractable. These and other construction, economic, regulatory and market risks remain inherent in the scaling of fuel production infrastructure. According to the report, these risks are manageable through disciplined project management of a staged and modular development strategy. The report also underscores the importance of the demonstration facility Syntholene is currently building in Iceland, which is intended to validate system performance under real-world conditions using base-load geothermal power and heat integration.

The company remains optimistic that the projected efficiency gains from its proprietary thermal hybrid production system are aligned with growing global demand for fuels decoupled from fossil and biological crude feedstocks. Syntholene's development road map emphasizes staged validation, third party testing and strategic partnerships as mechanisms designed to derisk execution and support future commercial scale-up.

The report, "Syntholene Technical and Economic Assessment -- Summary Findings," is available at Syntholene's website.

About Syntholene Energy Corp.

Syntholene is actively commercializing its novel hybrid thermal production system for low-cost clean fuel synthesis. The target output is ultrapure synthetic jet fuel, which the company seeks to manufacture at 70 per cent lower cost than the nearest competing technology today. The company's mission is to deliver the world's first truly high-performance, low-cost and carbon-neutral synthetic fuel at an industrial scale, unlocking the potential to produce clean synthetic fuel at lower cost than fossil fuels, for the first time. Syntholene has begun construction of the world's first geothermally integrated high-temperature electrolysis demonstration facility in Husavik, Iceland.

Founded by experienced operators across advanced energy infrastructure, nuclear technology, low-emissions steel refining, process engineering and capital markets, Syntholene aims to be the first team to deliver a scalable modular production platform for cost-competitive synthetic fuel, thus accelerating the commercialization of carbon-neutral e-fuels across global markets.

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