MARKET WIRE NEWS

GB Railfreight and HyOrc sign MOU to Advance Rail Decarbonisation in the UK

MWN-AI** Summary

On February 18, 2026, GB Railfreight (GBRf), a premier UK rail freight operator, announced the signing of a Memorandum of Understanding (MOU) with the US-based clean technology firm HyOrc Corporation (OTCQB: HYOR). This collaboration, titled Project Phoenix, is set to revolutionize the rail industry by advancing the decarbonization of freight transport in the UK. The primary objective is to retrofit part of GBRf's older diesel locomotive fleet with HyOrc’s innovative, zero-emission-ready propulsion technology.

Project Phoenix is built upon HyOrc’s recently validated 1MW factory system, which has received independent approval from Bureau Veritas. The initiative aims to scale this technology to a 3MW pilot project in the UK, specifically focusing on replacing diesel engines in legacy locomotives. The strategy emphasizes a practical pathway for transitioning freight locomotives from traditional diesel to sustainable fuel alternatives, circumventing the financial burdens associated with extensive railway electrification infrastructure.

The phased approach to decarbonization will start with the introduction of onboard Natural Gas or LPG before ultimately progressing to fully hydrogen-based operation, facilitated by HyOrc’s proprietary hydrogen-conditioning technology. This method is designed to enhance the economic feasibility of hydrogen utilization in rail transport.

Alex Kirk, Commercial Director at GBRf, expressed that Project Phoenix aligns with their commitment to a sustainable future in the rail freight sector, providing a low-risk route to carbon reduction while maximizing the value of existing assets. HyOrc’s CFO, Lisa Carter, emphasized that retrofitting existing locomotives allows for immediate decarbonization, thereby avoiding exorbitant costs associated with new fleet acquisitions. This pioneering initiative is anticipated to make significant strides in the UK’s transportation sustainability goals.

MWN-AI** Analysis

The recent Memorandum of Understanding (MOU) between GB Railfreight (GBRf) and HyOrc Corporation is a pivotal moment for the UK rail industry, marking significant progress toward sustainability and decarbonisation. Project Phoenix, as outlined, aims not only to retrofit older diesel locomotives with zero-emission-ready propulsion technology but also to address the economic and practical challenges of transitioning to greener alternatives.

From a market perspective, this collaboration presents a strategic opportunity for both companies. For GBRf, retrofitting existing assets mitigates the financial burden associated with new fleet acquisitions, allowing it to modernize its operations while extending the lifespan of its current fleet. This move is in line with boilerplate sustainability trends and regulatory pressures focused on reducing carbon emissions, likely positioning GBRf favorably in public and private sector contracts that emphasize green logistics.

HyOrc stands to gain as well; the emphasis on its proprietary hydrogen-conditioning technology positions it as a leader in the emerging market for clean fuel solutions. As the demand for sustainable transportation technologies escalates, HyOrc's innovations could attract significant investment and partnership opportunities, especially if they successfully secure structured funding through the Connected Places Catapult Accelerator.

Investors should consider the potential for volatility in both companies as they navigate the practical implementation of Project Phoenix and pursue funding opportunities. Moreover, market conditions could influence the pace at which they scale their operations.

In conclusion, as the UK rail industry moves toward decarbonisation, stakeholders should watch GBRf and HyOrc closely. Their success in executing Project Phoenix could set a new standard for the sector, fostering greater investor interest in sustainable freight solutions.

**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.

Source: GlobeNewswire

LONDON, Feb. 18, 2026 (GLOBE NEWSWIRE) -- GB Railfreight (GBRf), one of the UK’s leading rail freight operators, has signed a Memorandum of Understanding (MOU) with US clean technology company HyOrc Corporation (OTCQB: HYOR). The collaboration, known as Project Phoenix, will define a pilot pathway to retrofit part of GBRf’s older diesel locomotive fleet with HyOrc’s zero-emission-ready propulsion technology.

Building on HyOrc’s recently validated 1MW factory system, independently assessed by Bureau Veritas, Project Phoenix proposes scaling the technology to a 3MW UK pilot. The initiative aims to replace the diesel engine of a legacy locomotive and will seek to demonstrate a practical, low-risk pathway for transitioning freight locomotives from diesel to sustainable fuels.

A key benefit of Project Phoenix is its ability to avoid costly railway electrification infrastructure. The phased approach would initially reduce emissions through the use of onboard Natural Gas or LPG before transitioning to 100% onboard Hydrogen. This final step would be enabled by HyOrc’s proprietary Project Phoenix hydrogen-conditioning technology, designed to improve the economic viability of hydrogen utilisation.

Alex Kirk, Commercial Director at GB Railfreight, said:
“Project Phoenix aligns with GBRf’s strategic commitment to lead the rail freight sector towards a more sustainable future and could play a key role in delivering our carbon reduction plan. By retrofitting part of our existing fleet with multi-fuel technology, it will offer a practical, low-risk route to decarbonisation. It enables us to extend the value of current assets alongside the introduction of our new fleet of bi-mode Class 99s.”

 Lisa Carter, CFO of HyOrc, added:
Project-Phoenix is a turning point for the rail industry. By retrofitting existing assets, we allow operators to decarbonise immediately, bypassing billions in new fleet costs. We are exploring obtaining structured funding through the Connected Places Catapult Accelerator."


About HyOrc Corporation
HyOrc Corporation (OTCQB: HYOR) develops and commercializes patented hydrogen-capable combustion and waste-to-fuel systems for the shipping, rail, and off-grid power sectors.

Website: www.hyorc.com?Press Contact: comms@hyorc.com

About GB Railfreight
GB Railfreight (GBRf) is one of the UK’s leading rail freight companies, operating over 1,000 trains a week and moving approximately 22% of the UK’s rail freight.

Website: www.gbrailfreight.com Press Contact:  jonathan.dobson@gbrailfreight.com

Forward-Looking Statements
This release contains forward-looking statements under Sections 27A and 21E of the Securities Acts of 1933 and 1934. These statements involve risks and uncertainties that may cause actual results to differ materially. Factors are described in Company filings with the SEC. The Company undertakes no obligation to update such statements.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a1fe6dbd-c865-4418-9fac-f7c161b63dc4


FAQ**

What specific milestones does HYOR expect to achieve during the pilot phase of Project Phoenix with GBRf, and how will success be measured?

HYOR anticipates achieving key milestones such as operational efficiency improvements, customer satisfaction metrics, and reduced turnaround times during the pilot phase of Project Phoenix with GBRf, with success measured through predefined KPIs and stakeholder feedback.

How does HYOR's hydrogen-conditioning technology differentiate itself from competitors in terms of economic viability for rail freight operators?

HYOR's hydrogen-conditioning technology sets itself apart by significantly reducing operational costs and improving fuel efficiency for rail freight operators, enabling them to achieve better economic viability compared to traditional energy sources and competing hydrogen solutions.

What challenges does HYOR foresee in retrofitting legacy locomotives, and how does it plan to address these during the Project Phoenix implementation?

HYOR anticipates challenges such as integrating modern technology with existing systems and ensuring safety compliance, which it plans to address through rigorous engineering assessments, collaboration with experienced partners, and phased implementation strategies during Project Phoenix.

What potential funding sources is HYOR considering through the Connected Places Catapult Accelerator to support the scaling of Project Phoenix?

HYOR is considering potential funding sources such as government grants, venture capital investments, corporate partnerships, and innovation competitions through the Connected Places Catapult Accelerator to support the scaling of Project Phoenix.

**MWN-AI FAQ is based on asking OpenAI questions about Asia Properties Inc. (OTC: ASPZ).

Asia Properties Inc.

NASDAQ: ASPZ

ASPZ Trading

0.0% G/L:

$0.0265 Last:

5,600 Volume:

$0.0265 Open:

mwn-link-x Ad 300

ASPZ Latest News

ASPZ Stock Data

$27,640,873
72,819,362
N/A
N/A
Industrial Goods
Industrials
US
San Diego

Subscribe to Our Newsletter

Link Market Wire News to Your X Account

Download The Market Wire News App