HOUSTON, TX / ACCESSWIRE / November 1, 2021 / ENG (NASDAQ:ENG), a leading provider of innovative, project delivery solutions for the energy industry, today announced it is partnering with a leading technology university to build a prototype CO2 sequestration reactor. When completed, the reactor will be capable of capturing the carbon dioxide (CO2) formed during power generation and other industrial processes and storing it so that it is not released into the atmosphere.
While the university will retain its intellectual property and other rights to the technology, ENG will apply its carbon capture and engineering expertise to the design and building of the reactor and has already begun the first phase of the project - the design drawings for the reactor.
"We are thrilled to be working on such an important assignment," said ENG chief executive Mark A. Hess. "Not only is the advance of carbon capture technology crucial to the battle against global climate change, but this project also allows ENG to apply its considerable expertise in this realm and potentially provide us with yet another source of near and long-term revenue growth."
Today's announcement follows the company's disclosure on October 26 that ENG had added on-site construction to its suite of client services.
ENG (NASDAQ:ENG) is a leading provider of complete project solutions for renewable and traditional energy throughout the United States and internationally. ENG operates through two business segments: Commercial and Government Services. The Commercial segment provides engineering, design, fabrication, construction and integration of automated control systems as a complete packaged solution for our clients. The Government Services segment provides engineering, design, installation, operations, and maintenance of various government, public sector, and international facilities, specializing in turnkey automation and instrumentation systems for the U.S. Defense industry worldwide. Further information about the Company and its businesses is available at www.ENGlobal.com.
Safe Harbor for Forward-Looking Statements
The statements above regarding the Company's expectations, including those relating to its future results, operations and certain other matters discussed in this press release may constitute forward-looking statements within the meaning of the federal securities laws and are subject to risks and uncertainties. For a discussion of risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ENG's filings with the Securities and Exchange Commission, including the Company's most recent reports on Form 10-K and 10-Q, and other SEC filings.
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