CHEMICAL TECHNOLOGY, SCIENCE AND RESEARCH
Clariter | February 02, 2023
A global cleantech company, Clariter and TotalEnergies’ division, TotalEnergies Fluids, recently announced its world's first sustainable ultra-pure solvent made from plastic waste.
Ultra-pure solvents are utilized in cosmetics, pharmaceuticals, and other markets in high demand that require safe, odorless, colorless, and tasteless products that meet the criteria of the highest pharmacopeia-standard purity. In addition, the solvents made from plastic waste help reduce their environmental footprint and contribute towards the end-of-life plastics challenge.
Clariter and TotalEnergies Fluids worked together for 18 months on joint research and development, which led to this technological and business success. Clariter uses its own innovative upcycling technology to turn plastic waste into high-quality solvents, waxes, and oils that can be used more than once. Using its Hydro-De-Aromatization (HDA) technology, TotalEnergies Fluids further transforms the upcycled materials into high-purity solvents that meet the quality levels required by the most stringent applications.
This revolutionary innovation shows the commitment of the two partners to develop high-quality, low-carbon footprint products and contribute to the circular economy's development.
Dr. Daria Frączak, Clariter's Scientific Director, said, "Developing products of such high quality from plastic waste is a triumph for our joint R&D work." She also said, "Clariter's know-how and experience in plastic upcycling, together with TotalEnergies Fluids' deep knowledge of stringent industry requirements, came together to develop a process to produce sustainable solvents that meet the highest purity standards. We are thrilled to have achieved this significant milestone in our journey towards bringing to industry sustainable, high-quality products made from plastic waste".
Clariter was established in 2003 and is a global cleantech company providing innovative solutions that upcycles plastic waste. Oils, waxes, and solvents are converted from plastic waste using this efficient, patented technology, which can then be used in place of their fossil fuel counterparts. The combination of Clariter's commercial appeal and its eco-friendliness is unbeatable. By creating green jobs and bolstering local communities, the company aids its partners in achieving sustainability goals and decreasing their reliance on crude oil.
CHEMICAL TECHNOLOGY, CHEMICAL MANAGEMENT
Quaker Houghton | January 31, 2023
On January 30, 2023, Quaker Houghton announced that it has signed a contract with Constellation to acquire Renewable Energy Certificates (RECs) to meet roughly half of its entire U.S. based electricity requirements.
Constellation's RECs are Green-e® Energy Certified and sourced from wind and solar energy facilities in the contiguous United States. Throughout the contract's life, 100% of the electricity purchased by specific Quaker Houghton U.S. sites will be acquired from a renewable source or matched with RECs, which are subsequently retired. Each Renewable Energy Certificate that has been retired represents the environmental benefits of one megawatt-hour (MWh) of electricity produced by a renewable generator.
Through the acquisition of Renewable Energy Certificates (RECs), Quaker Houghton supports the operation and development of facilities that generate clean, renewable energy in regions where on-site production is not viable.
Quaker Houghton's Chief Executive Officer and President, Andy Tometich, commented, "Sustainability is core to our business and is a critical, driving force in our long-term plan. We are pleased to accelerate the achievement of our greenhouse gas emissions targets through the use of renewable energy certificates and remain committed to delivering on our ambitious 2030 sustainability goals."
(Source – PR Newswire)
Constellation's Senior Vice President, Retail, Daniel J. Verbanac, stated, "Constellation is pleased to support the sustainability goals of our customers." He added, "As America's leading clean energy producer, Constellation lauds Quaker Houghton's choice of renewable energy which helps reduce pollution and demonstrates a commitment to the environment."
(Source – PR Newswire)
About Quaker Houghton
Headquartered in Conshohocken, Pennsylvania, Quaker Houghton is a global leader in industrial process fluids. Its high-performance, innovative, and sustainable solutions are supported by best-in-class technology, deep process expertise, and personalized services. The company has over 4,000 personnel and operates in more than 25 countries. Its clients include the world's renowned advanced steel, aluminum, offshore, automotive, aerospace, mining, can, and metalworking firms. Its chemists, engineers, and industry experts work with businesses to continuously enhance their operations so that they can function even more efficiently and successfully in the future.
CHEMICAL TECHNOLOGY, CHEMICAL MANAGEMENT
Matador Resources | January 25, 2023
On January 24, 2023, Matador Resources Company announced that a fully-owned subsidiary of Matador had signed a definitive agreement for the acquisition of Advance Energy Partners Holdings, LLC, which includes oil and natural gas producing properties and undeveloped land in New Mexico, Lea County, and Ward County, Texas.
The consideration for the Advance Transaction will include an initial cash payment of $1.6 billion, depending on customary closing adjustments, as well as additional cash consideration of $7.5 million for every month in 2023, during which the average oil price exceeds $85 per barrel, as stated in the securities purchase agreement. Advance is an EnCap Investments L.P. portfolio company.
The Advance Transaction has an effective date of January 1, 2023, and is anticipated to close in the Q2 of 2023, based on customary closing conditions. On January 24, 2023, at 10:00 am Central Time, Matador's management held a live conference call to review the Advance Transaction.
Matador estimates the entire proved oil and natural gas reserves linked with these properties to be approximately 106,4 million BOE (73 percent oil) as of December 31, 2022. PV-102 of the proved natural gas and oil reserves of these properties as of December 31, 2022, was roughly $2.86 billion based on the same unweighted arithmetic average first-day-of-the-month prices for the prior year that was used to value the Company's reserves as of December 31, 2022, valued at $6.36 per MMBtu of natural gas and $90.15 per barrel of oil.
Matador anticipates that the continued development of these properties will increase future proven reserves and reserves value. Sewell & Associates, Inc., independent reservoir engineers from the Netherlands, conducted an audit of the reserve estimates prepared by Matador's engineering staff.
AboutMatador Resources Company
Matador Resources Company is a publicly traded, independent energy company headquartered in Dallas that focuses on shale plays and other unconventional plays in its development, production, exploration, and acquisition of natural gas and oil resources in the U.S. The company has a dedicated team of technical and administrative professionals, as well as a culture of high performance and fiscal discipline. It was founded as a privately held company in July 2003, attracting equity capital from several hundred investors, many of whom were shareholders in Matador Petroleum Corporation, its predecessor.