Bozeman, Montana Based MagDrive Technologies to Present Plan for Reducing Refinery Emissions by 62% during COP28 Climate Summit

As the the UN Emissions Gap Report sounds urgent alarm to cut emissions to hit Paris Accord
targets, MagDrive Technologies prepares to present breakthrough product at COP28

BOZEMAN, MONTANA November 21, 2023 – MagDrive Technologies has revealed that oil
and gas refineries can reduce their emission footprint by an astounding 62% through the adoption
of magnetically actuated valves. This innovative technology, when adopted, represents a
significant leap in the industry’s efforts to combat climate change.

MagDrive’s findings align with the urgent call for environmental action highlighted in the
United Nations Environment Programme’s Emissions Gap Report 2023, released yesterday. The
report emphasizes the necessity for rapid, economy-wide transformations to mitigate greenhouse
gas emissions and limit the rise in global temperatures to 1.5°C above pre-industrial levels this
century. The UNEP reports that predicted 2030 greenhouse gas emissions must fall by 42% to
achieve the 1.5°C pathway.
MagDrive CEO, Nick Runyon, is scheduled to present the team’s groundbreaking findings at the
upcoming Conference of the Parties (COP28) in Dubai on December 3rd. This presentation will
showcase the crucial role of advanced technology in achieving the ambitious global climate
goals.
Further extending its impact, MagDrive is licensing its patented valve designs to qualified
manufacturers. This strategic move will facilitate the widespread availability of zero-emission
valves to the oil and gas industry, marking a pivotal shift towards more sustainable industrial
practices. As a leader in zero-emission valve technology, MagDrive Technologies is committed
to providing innovative solutions that address critical environmental challenges. By reducing
industrial emissions, MagDrive’s technologies contribute significantly to global efforts to
mitigate climate change, aligning with the action items suggested in the UNEP report.

About MagDrive Technologies: MagDrive Technologies is the creator and leader of the
magnetically actuated valve category. Based in Bozeman, Montana, MagDrive’s team is bringing
true zero emission components to industries like oil and gas, energy, nuclear, aerospace, and
cryogenics.

For more information visit https://magdrive.tech or contact MagDrive at [email protected], or
406-404-6340.