Stonegate Capital Partners has initiated coverage on HyOrc Corporation (OTCQB: HYOR), a company focused on converting refuse-derived fuel (RDF) into green methanol. The coverage highlights HyOrc's potential to produce green methanol at approximately €350 per tonne, significantly undercutting the conventional grey methanol benchmark of about €850 per tonne. However, Stonegate notes that the company must still prove these economics in continuous commercial operation.
HyOrc's process involves turning prepared municipal and industrial waste into synthesis gas, cleaning and conditioning that gas, and converting it into methanol through a catalytic synthesis process. The core equity story, according to Stonegate, is less about broad clean-tech exposure and more about whether HyOrc can convert its pilot and equipment-delivery history into commercial-scale methanol production.
The clearest near-term validation is the company's plan to ship its fully funded initial 1 tonne per day (TPD) Porto methanol module in September 2026, as the first step toward an 8 TPD facility in Portugal. Successful installation and operation of this module would demonstrate the commercial viability of HyOrc's technology.
Beyond methanol, HyOrc is developing external-combustion power systems for stationary generation and locomotive retrofits. The delivery of two 500 kW turbine units and a memorandum of understanding with GB Railfreight provide early reference points, although both opportunities remain ahead of full commercial deployment.
For more details, the full announcement is available here. Images and additional information can be found in the press release.
