ECOX eyes reverse merger with SAF technology firm Kepler GTL
Arizona-based Eco Innovation Group (ECOX) said it has entered into a non-binding letter of intent and transaction overview with gas-to-liquids conversion technology developer Kepler GTL for potential reverse merger or share exchange in which ECOX would remain the surviving public company and Kepler GTL would combine into the public platform.
“We are pleased to announce this Letter of Intent with Kepler GTL, whose patented gas-to-liquids technology represents a compelling opportunity within the global energy transition,” said Richard Hawkins, CEO of ECOX.
“Kepler’s ability to convert otherwise wasted natural gas into SAF at commercial scale, supported by issued patents and a modular facility design, positions this as a differentiated opportunity in a market experiencing significant structural growth.”
Kepler GTL is a developer of proprietary, patent-protected gas-to-liquids (GTL) conversion technology designed to convert flared and stranded natural gas into sustainable aviation fuel (SAF) at commercial scale.
Kepler’s GTL conversion technology addresses two significant challenges: reducing wasteful natural gas flaring and expanding commercially viable SAF production.
Kepler’s modular facility design is engineered to convert flared or otherwise stranded natural gas into drop-in aviation fuel intended as a replacement for conventional jet fuel, requiring no modifications to existing aircraft or fuelling infrastructure.
A single Kepler GTL facility is projected to produce approximately 120m gallons of SAF annually.
Kepler GTL’s modular design provides a structural advantage through which facilities can be deployed in regions where natural gas flaring and stranded gas resources create both environmental impact and economic inefficiency.
Under the letter of intent, the transaction would include funding for completion of a PCAOB-compliant audit and the transfer of voting control through the sale and transfer of the company’s series A preferred stock.