Syntholene Energy Corp Appoints International Geothermal Leader Eirikur Bragason as Lead Project Manager

Bragason has held senior leadership roles in 650 mW+ of Geothermal Energy Infrastructure Deployment Totalling ~$3.3b, Including the World’s Largest Geothermal Power Plant, Hellisheidi in Iceland.

Syntholene Energy CORP (TSXV: ESAF,OTC:SYNTF) (FSE: 3DD0) (OTCQB: SYNTF) (‘Syntholene’), announces the appointment of Eirikur Bragason as Lead Project Manager for Syntholene’s planned synthetic fuel demonstration facility and future commercial scale-up at its cornerstone production footprint in Iceland. Mr. Bragason will support Syntholene’s infrastructure development strategy, project governance, technical risk management, and expansion efforts.

Mr. Bragason brings more than 25 years of experience in geothermal energy development, large-scale power infrastructure, and complex project execution across Europe, Asia, and the Americas, strengthening the Company’s depth in geothermal energy, power plant construction, and large-scale energy infrastructure delivery.

Mr. Bragason has acted as Chief Project Manager or Senior Technical Lead on some of the world’s most significant geothermal and renewable energy projects. These include the Hellisheidi Geothermal Power Plant in Iceland, a combined 300 megawatt electric and 400 megawatt thermal facility recognized as the largest geothermal power plant on Earth. He also served as the Deputy General Manager of Sinopec Green Energy, overseeing a total of 4.2 gigawatts of thermal energy in operation encompassing a total investment of approximately $6 billion. Mr. Bragarson has further overseen major geothermal project development across Indonesia, the Philippines, Hungary, China, and Central Europe.

‘Syntholene is pursuing a technically rigorous and commercially disciplined approach to synthetic fuel production, differentiated by its unique integration of geothermal energy,’ commented Mr. Bragason. ‘I look forward to supporting the company as it transitions from demonstration facility to commercial scale, showcasing its potential to materially improve the economics of clean fuels.’

‘Eirikur is one of the most experienced geothermal project leaders in the world,’ said Dan Sutton, CEO of Syntholene. ‘His direct experience delivering utility-scale geothermal infrastructure, managing multinational development teams, and executing complex energy projects is aligned with Syntholene’s commercial scale-up strategy. As we advance our thermal hybrid power-to-liquids platform and deploy geothermal-anchored synthetic fuel production, his insight and operational discipline will be invaluable.’

Mr. Bragason is a globally recognized expert in geothermal power plant project management. Most recently, he served as Chief Operating Officer of Arctic Green Energy, where he oversaw international geothermal platform development and operational execution. Prior to that, he was Chief Executive Officer and Chief Project Manager of KS Orka Renewables and Orka Energy in Singapore, leading the development and delivery of geothermal assets across multiple jurisdictions.

About Geothermal Energy in Iceland

Iceland’s unique geological position atop the Mid-Atlantic Ridge provides exceptional access to high-temperature geothermal energy, which today serves as a cornerstone of its 100% renewable electricity grid, as well as providing over 90% of the nation’s district heating. This baseload power is characterized by its high capacity factors, often exceeding 90%, providing a level of grid stability that distinguishes it from intermittent renewables like wind and solar.

According to data from the Low-Carbon Power 2025 Report, Iceland’s geothermal infrastructure currently boasts an installed capacity of approximately 799 megawatts electrical equivalent (e), contributing nearly 28% of the country’s total electricity generation. The existing infrastructure, managed by leaders such as Landsvirkjun and ON Power, includes world-class facilities like the Hellisheidi and Reykjanes plants, which are increasingly integrating carbon capture and storage (CCS) technologies to move toward carbon-negative operations.

The National Energy Authority of Iceland (Orkustofnun) identifies a massive ‘understood potential’ for future development through the Master Plan for Nature Protection and Energy Utilization. Current estimates suggest that Iceland’s total geothermal energy potential for electricity generation is approximately 20 terawatt hours per year of high-enthalpy energy available for industrial scaling.

This stable political and geological environment has positioned Iceland as a hub for long-term industrial expandability, particularly for high-energy users in the eFuel and Digital Infrastructure sectors. Reports from atNorth and Country Reports note that the ‘predictable, low-cost nature of Icelandic geothermal power’ is attracting a new wave of industrial tenants, including eFuel producers and AI-ready data centers, who require scalable, 24/7 renewable energy to meet global ESG mandates.

Iceland continues to leverage its ‘geothermal-first’ policy to foster strategic collaborations between energy producers and prospective industrial customers. This synergy bolsters confidence that industrial users can secure long-term power purchase agreements (PPAs) that are insulated from the volatility of global fossil fuel markets, solidifying Iceland’s role as an energy powerhouse of the North Atlantic.

About Syntholene

Syntholene is actively commercializing its novel Hybrid Thermal Production System for low-cost clean fuel synthesis. The target output is ultrapure synthetic jet fuel, manufactured at 70% lower cost than the nearest competing technology today. The company’s mission is to deliver the world’s first truly high-performance, low-cost, and carbon-neutral synthetic fuel at an industrial scale, unlocking the potential to produce clean synthetic fuel at lower cost than fossil fuels, for the first time.

Syntholene’s power-to-liquid strategy harnesses thermal energy to power proprietary integrations of hydrogen production and fuel synthesis. Syntholene has secured 20MW of dedicated energy to support the Company’s upcoming demonstration facility and commercial scale-up.

Founded by experienced operators across advanced energy infrastructure, nuclear technology, low-emissions steel refining, process engineering, and capital markets, Syntholene aims to be the first team to deliver a scalable modular production platform for cost-competitive synthetic fuel, thus accelerating the commercialization of carbon-neutral eFuels across global markets.

For further information, please contact:
Dan Sutton, CEO
comms@syntholene.com 
www.syntholene.com
+1 608-305-4835

X: @Syntholene
Linkedin: Syntholene Energy
Youtube: Syntholene Energy

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Forward-Looking Statements

This press release contains forward-looking statements within the meaning of applicable securities laws. The use of any of the words ‘expect’, ‘anticipate’, ‘aims’, ‘continue’, ‘estimate’, ‘objective’, ‘may’, ‘will’, ‘project’, ‘should’, ‘believe’, ‘plans’, ‘intends’ and similar expressions are intended to identify forward-looking information or statements. All statements, other than statements of historical fact, including but not limited to statements regarding the completion of the demonstration facility, commencement commercialization efforts, potential to materially improve the economics of clean fuel, the successful implementation of the test facility, commercial scalability, technical and economic viability, anticipated geothermal power availability, anticipated benefit of eFuel, and future commercial opportunities, are forward-looking statements.

The forward-looking statements and information are based on certain key expectations and assumptions made by the Company, including without limitation the assumption that the Company will be able to execute its business plan, that the eFuel will have its expected benefits, that there will be market adoption, and that the Company will be able to access financing as needed to fund its business plan. Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because the Company can give no assurance that they will prove to be correct. Since forward-looking statements and information address future events and conditions, by their very nature, they involve inherent risks and uncertainties.

Actual results could differ materially from those currently anticipated due to a number of factors and risks, including, without limitation, Syntholene’s ability to meet production targets, realize projected economic benefits, overcome technical challenges, secure financing, maintain regulatory compliance, manage geopolitical risks, and successfully negotiate definitive terms. Syntholene does not undertake any obligation to update or revise these forward-looking statements, except as required by applicable securities laws.

Readers are advised to exercise caution and not to place undue reliance on these forward-looking statements.

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