SquareOne Energy Announces Engineering, Procurement, and Construction (EPC) Partnership With CTCI Americas, Inc.

• SquareOne Energy, LLC announces the engagement of CTCI Americas, Inc. to serve as EPC lead for its Paulsboro, NJ used oil recycling facility
• CTCIA, a global leader in engineering, procurement and construction services, has extensive experience in advanced technologies, environmental, and hydrocarbon processes across the globe
• The Company’s initial facility will be constructed in the Philadelphia region at PBF’s active refined products terminal location in Paulsboro, NJ; the PBF site will provide substantial benefits namely through existing infrastructure and multi-modal access, positioning SquareOne to be operational in the first half of 2024

PHILADEPHIA–(BUSINESS WIRE)–SquareOne Energy, LLC (“SquareOne” or the “Company”) announced today the continued advancement of its initial discarded and used oil recycling facility in the Philadelphia region through its engagement of CTCI Americas, Inc. (“CTCIA”) to serve as lead engineering, procurement, and construction (“EPC”) partner for SquareOne’s initial facility in Paulsboro, NJ. With extensive knowledge and experience in global EPC, CTCIA provides comprehensive engineering and construction services for advanced technology facilities.

CTCIA is working to finalize SquareOne’s FEL-2 engineering process for the Paulsboro facility and will serve as the Company’s EPC lead through the initiation of turnkey operations, providing both a fixed price and performance guarantee. The Company has also partnered with the Axens Group (“Axens”), a worldwide leader in refining, renewables, recycling and petrochemical technologies, to license its existing designs for the front-end pre-treatment facility and hydrocracker unit. The combination of the Company’s innovative approach to used-oils, Axens’ proven technology, and CTCIA’s world-leading EPC experience uniquely positions SquareOne to provide an environmentally focused solution in the first facility for processing discarded and used oils into clean on-road fuels.

Steve Herzog, Chief Operating Officer of SquareOne, stated, “We are very excited to partner with CTCIA as the EPC lead for our initial facility. CTCIA’s extensive experience at the forefront of advanced, large-scale industrial development is the ideal partner to ensure execution excellence. Our agreement with CTCIA is a meaningful step on our path to commence operations, which remains on track for early 2024.”

Patrick Jameson, Chief Executive Officer and President of CTCIA, stated, “CTCIA brings an experienced EPC team of engineers, designers, supply chain, and project management to the SquareOne Energy sustainable ULSD and Group III base oil plant. As part of our strategic focus, CTCIA has engaged in several sustainable and renewable fuel/lubricant projects and is excited that SquareOne Energy has selected CTCIA to help bring this project to successful operation.”

SquareOne’s Innovative Process and Initial Recycling Facility

SquareOne is a Philadelphia-based independent enterprise formed to create a progressive solution to address the critical issue of used oil disposal and processing in the U.S. The Company recognizes the existing used oil re-refining industry needs an innovative approach to a) broaden the waste streams that are recycled and b) advance the products created from these feedstock materials. According to government studies, as much as one-third of used oil is either burned or illegally disposed, causing significant environmental harm to the ground and waterways. As such, significant energy potential from these previously refined hydrocarbons is wasted. As the country aggressively pursues steps towards energy transition to a cleaner future, so must the used oil re-refining space, which SquareOne is addressing through its advanced recycling process and move beyond existing, less complex technologies in the industry.

The Company’s facility design will have a sophisticated front end and pre-treatment stage, which will enable the facility to accept and process numerous types of recyclable feedstocks, many of which are currently being improperly disposed. SquareOne’s wider array of recyclable feedstocks differentiate it from the existing re-refiners that traditionally only process used motor oil. Acceptable feedstock materials, in addition to used motor oil, will also include residual marine oils and more unmarketable material (unusable distillates combined with gasoline) as well as various other off-spec and distressed hydrocarbons.

SquareOne will also license proven technology for its facility, delivering the cleanest set of product yields in the U.S. re-refining industry. The Company’s primary product will be Colonial Pipeline specification ULSD, with associated products including low sulfur naphtha and high viscosity Group III base oil blendstock.

SquareOne’s facility will be constructed on an active refined products terminal site in the Philadelphia region owned and operated by PBF Logistics LP (NYSE: PBFX) and PBF Energy Inc. (NYSE: PBF) (collectively, “PBF”). PBF’s terminal, located in Paulsboro, NJ, provides the Company strong benefits from its existing infrastructure, multiple modes of transport access and comprehensive utilities, substantially reducing the development cost of the Company’s new recycling facility. By leveraging the significant advantages of the existing infrastructure, the Company expects the facility to be operational in the first half of 2024.

King & Spalding is serving as project and engineering legal counsel to SquareOne.

About SquareOne Energy

SquareOne is an independent enterprise founded in the Philadelphia area, committed to creating and growing a holistically sustainable blueprint for re-energizing waste oil. SquareOne is currently developing an innovative used oil recycling process, which will be the first in the U.S. to recycle used oil materials into clean on-road fuel products. For more information, please visit www.sq1energy.com or contact the Company at info@sq1energy.com.

About CTCI Americas

CTCI Americas is a subsidiary of CTCI Corp., a global engineering, procurement and construction (EPC) firm, with $2.3 billion in revenue and extensive technology and energy industry EPC project experience and is recognized as being a reliable contractor by many of its clients. With a globally dynamic team of over 7,000 employees in around 40 affiliates spanning across more than 15 countries—including 40 years of experience in the industry—CTCIA is working to solve some of the world’s most technically challenging problems.

About Axens

Axens (www.axens.net) is a group providing a complete range of solutions for the conversion of oil and biomass to cleaner fuels, the production and purification of major petrochemical intermediates, the chemical recycling of plastics and all natural gas treatment and conversion options. The offer includes technologies, equipment, furnaces, modular units, catalysts, adsorbents and related services. Axens is ideally positioned to cover the entire value chain, from feasibility study to unit start-up and follow-up throughout the entire unit cycle life. This unique position ensures the highest level of performance with a reduced environmental footprint. Axens global offer is based on highly trained human resources, modern production facilities and an extended global network for industrial, technical supports & commercial services. Axens is an IFP Group company.

Contacts

SquareOne Energy, LLC

info@sq1energy.com