Syntroleum Expanding R&D Facilities
3 June 1998
Syntroleum Expanding R&D Facilities; Former Laidlaw Laboratory and Adjacent Land AcquiredTULSA, Okla., June 3 -- Syntroleum Corporation announced today that it has completed the purchase of a 16,500 square foot laboratory facility and approximately 95 acres of land located at 4332 South 49th West Avenue in Tulsa. The modern research facility was constructed in 1988 and was formerly owned by Laidlaw Environmental Services (US), Inc. of Columbia, South Carolina. The facilities will be used to expand Syntroleum's research and development activities related to the company's proprietary processes for converting natural gas into synthetic fuels and other specialty hydrocarbon- based products. When fully equipped and operational, the new laboratory will quadruple Syntroleum's existing R&D facilities, already among the world's largest devoted to Fischer-Tropsch process research. The adjacent land will be used for consolidating existing and future pilot-plant activities, integral to ongoing development of the company's gas-to-liquids technologies. "The acquisition of this laboratory facility will allow us to better support our present and future R&D activities and enable us to move more quickly to commercialize process improvements," stated Kenneth Agee, Syntroleum chairman and chief executive officer. Syntroleum Corporation based in Tulsa, Oklahoma, licenses its proprietary process for converting natural gas into synthetic crude oil and transportation fuels. The process is expected to be applied in plant sizes ranging from 2,000 barrels per day to 50,000 barrels per day and larger. Current licensees of the process include Texaco, Marathon, ARCO, YPF, Kerr-McGee and Enron. This release may contain forward-looking statements as well as historical information. Forward-looking statements are identified by or are associated with such words as "intend", "believe," "estimate," "expect," "anticipate," "hopeful" and similar expressions. They reflect current beliefs and estimates of future economic circumstances, industry conditions, performance and financial results and are not guarantees of future performance. Forward- looking statements are based on many assumptions and factors. Any changes in the assumptions or factors could produce materially different results than those predicted. (R) "Syntroleum" is registered as a trademark and service mark in the U.S. Patent and Trademark Office.