eCombustible Energy LLC, an innovator and provider of customizable hydrogen-based fuel for thermal industrial applications, has received an $11.2 million strategic investment as well as signed a follow-on contract with Pamesa Grupo Empresarial, S.L. (“Pamesa”), one of Europe's largest ceramic tile producers, to increase the use of eCombustible fuel at their ceramic products factories in Spain.  eCombustible Energy’s contract with Pamesa has a term of 10 years and anticipated revenues of over $500 million.

 

Pamesa Group is a Spanish industrial group dedicated to the design, manufacture and marketing of ceramic products, atomized clays, chemicals, and energy commercialization that meet its customers’ needs, ensuring excellent quality, design and price. The Company sells its products in over 150 countries worldwide.

 

Under the terms of the agreement, Pamesa is increasing a previous commercial order to replace natural gas consumption with the supply of eCombustible fuel from the company’s patented fuel supply modules, and in conjunction has made a $11.2 million direct equity investment into eCombustible Energy.

 

eCombustible is designed for large-scale, thermal combustion processes such as those used in mining operations, metals manufacturing, food and beverage production, hospitality services, chemical plants, cement production and all other heat-intensive processes like tile making. eCombustible Energy is building and will install, own, and operate its fuel production modules on site at customer locations under long-term fuel supply agreements.

 

“Pamesa is one of the largest consumers of natural gas in Spain, and one of the top five in Europe, making their operations an ideal location to introduce our patented fuel supply modules in the region,” said Jorge Arevalo, Chief Executive Officer and Founder of eCombustible Energy. “As one of the top five tile producers in the world, Pamesa has taken a leading role in its industry’s efforts to adopt a clean energy alternative to manufacture ceramic products, at a competitive and predictable cost considering the volatile price of natural gas and market uncertainty.”

Pamesa is looking to meet the environmental requirements of the European Union, which has committed to reduce CO2 emissions by up to 55% by 2030. eCombustible expects fuel sales to begin in the fourth quarter of 2022.

 

Pamesa Grupo Empresarial President Fernando Roig added: “Using alternative fuels to help our planet is important to Pamesa and our clients.  We believe our investment and contract with eCombustible will help us reach our sustainability goals while continuing to provide excellent ceramic products at competitive prices.”