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01-06-2016

Maire Tecnimont and Siluria to develop new natural gas based technologies

Maire Tecnimont S.p.A. and Siluria Technologies announced today that they have entered into a joint collaboration agreement. Under the terms of the JCA Maire Tecnimont and Siluria agreed to combine their respective technologies and expertise to bring to the marketplace a unique process to convert natural gas directly into commodity chemicals and their derivative products.

“This collaboration capitalizes on Maire Tecnimont’s international competencies in engineering and construction, technology licensing and new business development,” said Pierroberto Folgiero, Maire Tecnimont’s Chief Executive Officer. “We are eager to combine these core strengths with Siluria’s ground-breaking technology development platform to offer a unique, high-value solution to petrochemical customers.”

“We are excited to expand our product portfolio by teaming with Maire Tecnimont, to enable a completely new pathway to produce additional petrochemical derivatives from natural gas,” said Erik Scher, Siluria’s Interim CEO and President. “This new product offering will expand Siluria’s portfolio beyond our current solutions focused on gasoline and ethylene, to address an even larger share of the global petrochemical and energy market. Furthermore, partnering with Maire Tecnimont, a recognized leader in engineering, construction, technology licensing and new project development, provides a worldwide platform for commercialization.”

In conjunction with the signing of the JCA, Maire Tecnimont has made a minority investment of USD10 million in Siluria’s share capital through the Series E financing Round.

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