GLOBAL OIL SHALE GROUP PLC COLLABORATES WITH OUTOTEC OYJ IN THE DEVELOPMENT OF A CONCENTRATION PROCESS FOR OIL SHALE

Global Oil Shale Group Plc (“GOS”) announces that it has agreed with OUTOTEC OYJ (“Outotec”) on collaboration in the development of a commercial scale concentration process for kerogen, a mixture of organic material contained in surface mineable oil shale deposits. The parties will initially focus on GOS’s existing oil shale resources, such as a 2.18B bbl oil shale project in Julia Creek, Queensland, Australia and other deposits under evaluation and acquisition in North Africa, Middle East and elsewhere.

GOS is a global energy company exclusively focused on oil shale, large scale mining and processing of the world’s kerogen rich oil shale deposits to oil – with potential for add on electricity production and associated minerals extraction.

Outotec is a leading minerals and metals technology company and an innovative supplier of sustainable solutions for industrial water treatment as well as renewable and alternative energy, including oil shale. Concentration of kerogen contained in oil shale improves the oil shale feedstock used for production of shale oil, synthetic gas and electricity through retorting or gasification processes.

“We regard our collaboration with OUTOTEC as a central component in GOS’s strategy of improving efficiency and scaling up oil shale processing globally. OUTOTEC is a world leader in this area and we are excited about our partnership for kerogen concentration”, says Petri Karjalainen, Executive Chairman of Global Oil Shale Group.

“We believe that kerogen concentration has the potential to unlock significant value as well as improve the environmental performance of the oil shale industry. Our collaboration with Global Oil Shale will complement our expertise in the energy sector”, says Kari Knuutila, Chief Technology Officer of Outotec.

 

For more information contact:

Petri Karjalainen – Executive Chairman

Tel: + 44 7811 200 885     e-Mail:          pk@globaloilshale.com

Anton Eiguine – Investor Relations

Tel: + 44 1534 88 6644      e-Mail:         ase@globaloilshale.com