HyOrc HYOR

HyOrc Corporation is a Wyoming corporation engaged in the research development and commercialization of clean energy technologies designed to decarbonize heavy duty transport industrial power generation and distributed energy applications. The company focuses on hydrogen methanol and waste to energy solutions to create commercially viable alternatives to diesel engines and fossil fuels. Its core innovation is an external combustion technology that can integrate with organic rankine cycle turbines and run on multiple fuels while maintaining high efficiency and durability.

HyOrc generates revenue primarily from operation and maintenance services, a share of electricity sales revenues, and technical services provided through its subsidiary SRE Power Inc under the Project Funding Build and Transfer agreement with Biliran Geothermal Inc. The Biliran 2 MW geothermal plant in the Philippines has been offline since October 2024 due to a legal dispute with the counterparty which has reduced the company’s revenue significantly. When the plant is not operating the company earns limited revenue from engineering services, equipment sales, and technical consulting. In 2025 the company also recognized $57,847.18 from technical service activities for gas and steam turbine installation projects in Germany and earned $72,942.19 as its share of proceeds from a turbine supply transaction in Turkey. These amounts reflect service fees and net proceeds from agency arrangements.

The company operates through the following segments:.

• Green Methanol Production: This segment focuses on producing green methanol from municipal waste targeting shipping and fuel blending markets. The company is advancing a joint venture in Portugal to develop an eight tonnes per day methanol pilot facility with plans to expand to eighty tonnes per day pending financing and off take agreements.

• Hydrogen Power Systems: This segment develops modular hydrogen fuelled ORC engines for off grid power and pay as you go deployment. The units allow customers to purchase electricity on a pay as you go model reducing upfront capital expenditure and provide multi fuel flexibility for remote or critical infrastructure.

• Hydrogen Locomotive Retrofits: This segment converts existing diesel locomotives to hydrogen or natural gas fuelled systems by providing retrofit kits that replace diesel engines with hydrogen powered ECT turbines. The approach enables reuse of rolling stock and targets markets in India, the EU, and the United States.

HyOrc competes with fuel cell providers, battery electric manufacturers, and traditional internal combustion engine firms. Its external combustion technology offers fuel flexibility, high efficiency, durability, and lower total cost of ownership compared with proton exchange membrane fuel cells and diesel engines. The technology can operate on hydrogen with purity as low as 97% while maintaining greater than 45% efficiency which is a notable advantage over competing fuel cell systems. These strengths allow the company to address sectors where decarbonization is driven by regulation such as shipping, aviation, power generation, and rail.

The company serves a diverse customer base that includes project developers, utilities, transport operators, and industrial clients. Specific customers named in filings are Biliran Geothermal Inc, Sener Bonatti, Joule Energie GmbH, Vaigunth Enertek Private Limited, Start Lda, Banaras Locomotive Works of Indian Railways, and GB Railfreight. These relationships demonstrate the company’s ability to work with public utilities, private engineering firms, and railway operators across different geographies. In the maritime sector the company’s green methanol projects aim to supply fuel to shipping companies seeking to meet International Maritime Organization emissions targets. In the power sector collaborations with turbine manufacturers and engineering contractors support the deployment of its hydrogen fueled ORC engines for backup and off grid power solutions. In the rail sector discussions with locomotive manufacturers and railway operators focus on retrofitting existing diesel fleets to hydrogen or natural gas power.