Talent acquisition and retention in the chemical industry

RAJIB KUMAR | February 17, 2019 | 139 views

The chemical industry has witnessed several changes in the way it operates, especially over the past decade. Led globally by consolidations, and an all-pervasive impact of digital technology and lean portfolios, organizations must rapidly change and adapt to these new realities. This will have to be done keeping in mind the industry challenges of high capital investments, R&D costs, IPR protection, and environmental regulation, amongst others.

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REACH Delivery International

REACH Delivery is a global service for manufacturers, importers, distributors and downstream users, supporting the electronic delivery, receipt, management, automatic update and audit of SDS documents as required to achieve compliance under the REACH regulations, within a secure environment. Simple to use and free to recipients, REACH Delivery automates, guarantees and controls the transfer, receipt and remote update of all REACH documentation ensuring compliance by guaranteeing that only the very latest documents are in use. As part of a comprehensive system, it also provides for alert mechanisms, audit trail, reporting and automated removal of outdated documents

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CHEMICAL TECHNOLOGY

Future-Proofing the Chemical Industry with Digitalization

Article | August 8, 2022

Over the next five to seven years, the chemical sector will place a greater emphasis on sustainability, and digitization will play a significant part in this. Reducing resource use, pollution, energy consumption, and waste are some of its main applications. Additionally, it will increase demand for a circular economy supported by IoT, AI, and other digital technologies. Some of the systems now in place or being used in the sector include autonomous solutions that enable lower energy usage, dispatching systems for effective logistics and strategies for sustainable power and fuel consumption. Chemical players making the switch to digital platforms have a chance to triumph if they move swiftly and update their operational models in accordance with a few common success characteristics. In fact, according to our study, making the correct decisions can increase total earnings before interest, taxes, depreciation, and amortization by 3 percent or more (EBITDA). The Next Step of Operational Excellence The same level of transformation is available with digital technology for optimal performance, together with success-enabling measures. The same level of corporate participation and realignment will also be necessary for the effective implementation of digital technology. Finance and telecoms were early leaders in adopting digital technology faster than the chemical sector, which has just recently started to move in more significant numbers toward digitalization. A circular economy in the sector is also being enabled by the use and evaluation of digital technology. The "Right to Fix" movement is being driven by governments and legislators in Europe and the US, and small and medium-sized businesses in the industry are expected to invest in technology that makes it easier to repair electronic items with the least amount of waste. On a side note, by enabling the re-use of resources and products throughout the supply chain, digitalization with lean manufacturing (LM) would enable businesses to improve operational excellence and create value, thereby supporting the circular economy goal. Conclusion Given its extensive safety and regulatory requirements, the chemical sector has evolved slowly. However, as the global economy changes, some skills will become obsolete and others essential. The interconnectedness of people, processes, and technology, as well as the requirement for real-time insight at the levels closest to the action, are among the basic principles of Industry 4.0. These values have existed for some time and are an extension of our teams' current operational excellence initiatives. Digital transformation is not a technology endpoint but rather the following stage in the process and business evolution as the chemicals industry advances continuously.

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CHEMICAL MANAGEMENT

Key Trends in the Digital Transformation of the Chemical Industry

Article | July 14, 2022

The chemical business is intricate, with numerous sub-sectors dealing with various challenges. Thus, there are some differences in the sector's main areas of digitalization. For instance, while specialty chemicals with smaller batches but larger profit margins are concerned with improving quality, large factories are concentrated on accelerating throughput speed. To be able to react to quick and repeated changes in demand, supply, and working circumstances, however, every plant must optimize output, reduce waste, improve safety and sustainability, and become more nimble. Therefore, the Industrial Internet of Things (IIoT), artificial intelligence (AI), and cloud computing are expected to be the three most popular applications for digital transformation during the coming two years. Key Trends Production Optimization The first and most valuable use cases of digitalization in chemical plants center on production optimization through improved equipment performance, process automation, remote and predictive monitoring, and simplified maintenance. Chemical factories, which often provide basic chemicals for use as end products in other sectors, have a special responsibility to maintain consistently high product quality. However, doing so can be challenging given the significant variations in raw material supply and quality. In addition, as process engineers can change the mix on the fly in reaction to fluctuations in quality, feedstock, or ambient temperatures, better data and analytics enable finer and more frequent adjustments. Lowering Waste The main advantage of digitally transformed plants so far has been cost reduction. The price volatility of raw materials is a problem for the chemical production sector because customers naturally want constant low prices. Minimizing waste is critical since facilities must contend with rising energy costs. Analytics tools that monitor fluctuating raw material prices aid factories in negotiating the best deals with suppliers and preparing in advance for price spikes. The risk of oversupply is reduced since plants can prepare the proper quantities of various products thanks to more precise demand predictions. Sustainability, Compliance, and Safety The chemical industry is heavily regulated as a result of the quantity of hazardous chemicals and the number of end-use industries that rely on it. Businesses are adopting digital transformation to boost safety awareness, reduce emissions and dangerous flare incidents, and guarantee a transparent and accurate audit trail. Plants that quickly adopt digital solutions for remote monitoring, supply chain visibility, waste reduction, production optimization, raising their safety profile, and opening up new opportunities will profit from higher profits and increased revenue, whereas those that hesitate for too long risk failing in the long run.

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CHEMICAL TECHNOLOGY

The Future of Supply Chain Management for Chemical Companies

Article | June 6, 2022

Individual consumers expect tailored products and services. Color, size, quantity, payment method, and delivery channel options abound. The chemical sector is also now following this suit of action. The global chemicals supply chain has grown steadily for three decades. Chemical businesses are improving their supply chain capabilities to handle complexity and meet client demands. This includes implementing advanced data-driven and cloud-based technologies that enable faster, more flexible, and tailored customer interactions. Areas of innovation for chemical companies Living Segmentation Living segmentation can help chemical businesses better serve clients and satisfy their expectations. This entails adapting supply chain capabilities to each customer's needs. Asset-light Network An asset-light network involves developing an ecosystem of partners to add capabilities and value to your supply chain beyond standard co-manufacturing, co-packing, and third-party or last-mile logistics providers. In addition, it should include technology partners that help chemical businesses innovate and be adaptable. Data and Applied Intelligence Improving speed, agility, and efficiency in global supply chains demands comprehensive visibility and the correct information. Data provides visibility and insights. The key to providing excellent customer service is gathering the appropriate data and using it strategically to get important insight. The industry generates a ton of data, which is excellent news. In response to last year's supply chain delays, corporations are building supply chains with geographically spread shipping/supplier choices. Real-time visibility and enhanced analytics can be used to track delays by providing revised ETAs and analyzing downstream implications. Data-driven insights can alert organizations of a delay almost immediately and help them acquire raw materials from another supplier to reduce the domino impact downstream. Chemical businesses must rethink their supply chains to implement living segmentation, asset-light networks, data, and AI.

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CHEMICAL TECHNOLOGY

Organic Catalyst Boasts Big Benefits

Article | June 6, 2022

An enzyme-mimicking catalyst opens a new route to important organic molecules such as glycolic acid and amino acids from pyruvate, report researchers in Japan. Moreover, the new catalyst is cheaper, more stable, safer and more environmentally friendly than conventional metal catalysts used in industry, they note, adding that it also displays the high enantioselectivity required by the pharmaceutical industry. “On top of these advantages, our newly developed organic catalyst system also promotes reactions using pyruvate that aren’t easily achievable using metal catalysts,” says Santanu Mondal, a PhD candidate in the chemistry and chemical bioengineering unit at Okinawa Institute of Science and Technology (OIST) Graduate University, Okinawa, Japan, and lead author of a study recently published in Organic Letters. “Organic catalysts, in particular, are set to revolutionize the industry and make chemistry more sustainable,” he stresses. The researchers use an acid and an amine mixture to force the pyruvate to act as an electron donor rather than its usual role as an electron receiver (Figure 1). Effectively mimicking how enzymes work, the amine binds to the pyruvate to make an intermediate molecule. The organic acid then covers up part of the intermediate molecule while leaving another part that can donate electrons free to react to form a new product. Currently, the organic catalyst system only works when reacting pyruvate with a specific class of organic molecule called cyclic imines. So, the researchers now are looking to develop a more-universal catalyst, i.e., one that can speed up reactions between pyruvate and a broad range of organic molecules. The challenge here is to try to make the electron-donating intermediate stage of pyruvate react with other functional groups such as aldehydes and ketones. However, different catalysts create different intermediates, all with different properties. For example, the enamine intermediate created by the researchers’ new reaction only reacts with cyclic imines. Their hypothesis, currently being investigated, is that creation of other intermediates such as an enolate, if possible, would achieve a broader pyruvate reactivity. In terms of cost, the researchers note that a palladium catalyst used in similar reactions is 25 times more expensive than their organic acid — which also is made from eco-friendly quinine. In addition, they believe scale-up of the process for industrial use definitely is possible. However, the researchers caution that the current amine-to-acid-catalyst loading ratio of 1:2 probably would need to be optimized for better results at a larger scale.

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Spotlight

REACH Delivery International

REACH Delivery is a global service for manufacturers, importers, distributors and downstream users, supporting the electronic delivery, receipt, management, automatic update and audit of SDS documents as required to achieve compliance under the REACH regulations, within a secure environment. Simple to use and free to recipients, REACH Delivery automates, guarantees and controls the transfer, receipt and remote update of all REACH documentation ensuring compliance by guaranteeing that only the very latest documents are in use. As part of a comprehensive system, it also provides for alert mechanisms, audit trail, reporting and automated removal of outdated documents

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CHEMICAL MANAGEMENT

BASF to produce more specialty pyrrolidones in North America

BASF Corporation | August 05, 2022

BASF has announced it will produce more 2-Pyrrolidone and N-Octyl-2-Pyrrolidone (NOP) at its Geismar, Louisiana, Verbund site. The production is anticipated to be on-stream in the second half of 2022 and will ensure a global supply of HEP and NOP. "Our customers want to continue to grow in the ink, automotive and agricultural markets and will need increasing quantities for the foreseeable future. We can accompany these growth plans thanks to our double-digit-million-dollar investment by BASF in Geismar.” Erika Peterman, Senior Vice President, Chemical Intermediates, North America “It became clear that our facility in Geismar would make a perfect fit for increased production of HEP and NOP in the region,” explained Stefanie Demming, Vice President, Operations & Technology, Chemical Intermediates, North America. “We are pleased to take on a global supply role in North America.” N-(2-Hydroxyethyl)-2-Pyrrolidone (HEP) is a versatile chemical intermediate. It proves essential as (co)-solvent for the production of crop protection agents, electronic, coating and inkjet formulations. N-Octyl-2-Pyrrolidone (NOP) is a versatile chemical intermediate used particularly as a solvent and low-foaming surfactant. Among other things, NOP is used as a solvent in the production of crop protection active ingredients, it is also used as a wetting agent in dishwashing detergents as well as various automotive applications. About BASF BASF Corporation, headquartered in Florham Park, New Jersey, is the US affiliate of BASF SE, Ludwigshafen, Germany. BASF has more than 16,700 employees in North America and had sales of $25.9 billion in 2021. At BASF, we create chemistry for a sustainable future. We combine economic success with environmental protection and social responsibility. Around 111,000 employees in the BASF Group contribute to the success of our customers in nearly all sectors and almost every country in the world. Our portfolio comprises six segments: Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care and Agricultural Solutions. BASF generated sales of €78.6 billion in 2021. BASF shares are traded on the stock exchange in Frankfurt (BAS) and as American Depositary Receipts in the U.S. Further.

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CHEMICAL MANAGEMENT

Sinopec Capital and Johnson Matthey explore strategic collaboration across decarbonisation and hydrogen technologies

Johnson Matthey | August 04, 2022

On 2nd August 2022, A Memorandum of Understanding signed by Sinopec Capital and Johnson Matthey China signals the start of active dialogues to explore joint possibilities across green and blue hydrogen, fuel cells, decarbonisation technologies and circular economy business in China. Mr ZHOU Meiyun, Deputy Chairman and General Manager of Sinopec Capital, said: "Sinopec has made its long term development strategic goal and dedicated to become a No.1 hydrogen company in China and a leading clean energy company in the world. Sinopec is committed to develop and use various carbon reduction technologies including energy conservation and reduction, green energy replacement, and CCUS technologies and makes full efforts to reach the carbon neutralization target before 2060. We wish to have a deep collaboration with Johnson Matthey in carbon reduction and green energy fields to fully support achieving China's national strategic goal of 30/60 carbon peak/carbon neutralization." "Johnson Matthey has a long heritage in China. We are China's leading auto catalyst producer, one of the largest platinum group metals refiners, a leading player across syngas and hydrogen fuel cells, and the first commercial scale MEA producer in China. Some of the world's biggest companies already rely on our technologies, and we are very excited to explore how we can work with Sinopec to expand our businesses whilst creating and scaling the low carbon solutions that help China achieve the carbon neutrality by 2060." Dr Mark Su, Johnson Matthey's China President Sinopec is the largest oil and petrochemical products supplier and the second largest oil and gas producer in China. It is also the largest refining company and the second largest chemical company in the world. Sinopec Capital is a fully owned subsidiary of Sinopec Group launched in 2018 with RMB10bn initial paid-in registered capital. The company makes strategic equity investment activities on new energy, new material, energy conservation and environmental protection, advanced manufacturing, big data and artificial intelligence to support Sinopec Group transforming from a traditional energy provider to a leading clean energy company in the world. Johnson Matthey is a global leader in sustainable technologies that enable a cleaner and healthier world. Its technologies have a global impact in areas such as low emission transport, energy, chemical processing and making the most efficient use of the planet's natural resources. It is a world leading hydrogen technologies player, with technologies supporting the development and production of green and blue hydrogen and fuel cells. Its China business started in 1993, growing to a top 50 company in Shanghai. It has 6 state-of-the art manufacturing facilities, proudly delivering over 120 million auto catalysts over the last 2 decades. It is the leading membrane electrode assembly (MEA) producer in China, and produced the MEAs for hydrogen fuel cell shuttle buses showcased in the Beijing Winter Olympic 2022. About JM Johnson Matthey is a global leader in sustainable technologies that enable a cleaner and healthier world. With over 200 years of sustained commitment to innovation and technological breakthroughs, we improve the performance, function and safety of our customers' products. Our science has a global impact in areas such as low emission transport, energy, chemical processing and making the most efficient use of the planet's natural resources. Today about 15,000 Johnson Matthey professionals collaborate with our network of customers and partners to make a real difference to the world around us.

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CHEMICAL MANAGEMENT

Hexagon successfully acquires 40 percent stake in Cryoshelter, unlocking new opportunities for Hexagon Agility and Hexagon Purus

Hexagon Agility | August 02, 2022

On 21 April 2022 Hexagon Composites and Hexagon Purus announced that it signed an agreement to acquire a 40% stake in Cryoshelter GmbH, an Austria based company specialized in the development of cryogenic tank technology for liquid natural gas and liquid hydrogen. Hexagon is pleased to announce that the transaction has been successfully completed, and Hexagon Composites now owns 40% of Cryoshelter's LNG/RLNG business, with options to buy remaining interests over the next 3-10 years. Hexagon Purus has also completed the acquisition of its previously announced 40% stake in Cryoshelter’s LH2 business. The Hexagon Group today provides compressed natural gas including renewable natural gas (RNG), compressed hydrogen and battery-electric systems as part of its portfolio of clean fuel vehicle solutions. Liquid storage of (renewable) natural gas and hydrogen will add a new dimension to its existing offering, complementing its portfolio and unlocking new opportunities for Hexagon Agility and Hexagon Purus, respectively. Commercializing and Industrializing Cryoshelter Tanks The Hexagon and Cryoshelter partnership will accelerate Cryoshelter’s existing LNG/RLNG technology and production capability and use the LNG technology platform to further develop LH2 solutions for the heavy-duty transportation sector. “Cryoshelter’s disruptive technology will further strengthen our efforts to drive decarbonization of heavy-duty vehicles, with a special emphasis on the European market where clean, energy efficient cryogenic LNG/RLNG fuels are needed due to limited space on trucks,” says Seung Baik, President Hexagon Agility. “We are excited to be working together with Cryoshelter to further develop the technology and scale up the business over the coming years.” “The investment into Cryoshelter’s early phase LH2 tank technology brings expertise in LH2 tank technology for zero emission mobility applications and could potentially result in a future complementary offering to Hexagon Purus’ leading compressed hydrogen cylinder technology,” Morten Holum, CEO Hexagon Purus “We are excited to team up with Hexagon as they bring industrial expertise, a global presence and customer potential to escalate the scale up of our operations,” says Dr. Matthias Rebernik, CEO and Founder of Cryoshelter. “Hexagon’s investment into our company is proof of confidence in our state-of-the-art technology.” Cryoshelter is split into separate legal entities for the LNG/RLNG and LH2 businesses. Hexagon Agility and Hexagon Purus will take two seats each on the respective boards of Cryoshelter’s two businesses. Expanding clean fuel options for commercial trucks In contrast with North America, where compressed natural gas is the primary natural gas technology for long-haul trucking, LNG/RLNG has emerged as the leading natural gas alternative in Europe due to a significant infrastructure network, favorable cost position and preferred truck configuration. Over the last several years, the number of new LNG truck registrations and fueling stations have increased significantly, and higher growth is expected over the next decade as fleet operators are opting for readily available, cost competitive fuels with immediate emission saving potential such as biomethane (or RNG). In liquid form, natural gas has a higher energy density. Cryoshelter’s technology will leverage this energy density to better utilize vehicle frame rail space and provide a driving range that is comparable to diesel. Supported by European legislation, it is expected that renewable natural gas, alongside battery-electric and fuel cell-electric technologies will play a key role in the efforts to decarbonize the commercial transportation sector in Europe. Liquid hydrogen, a compelling future alternative Hydrogen is gathering strong momentum as a key energy transition pillar towards zero emission, and is underpinned by a global shift of regulators, investors, and consumers increasingly focused on decarbonization. It has become clear that hydrogen will play a key role in decarbonizing “hard to abate” sectors. Liquid hydrogen storage technology can offer higher energy density compared to compressed hydrogen storage, and in space and/or payload-constrained applications, such as certain heavy-duty trucking applications, shipping, commercial aviation, and aerospace, it could be a compelling future alternative.

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CHEMICAL MANAGEMENT

BASF to produce more specialty pyrrolidones in North America

BASF Corporation | August 05, 2022

BASF has announced it will produce more 2-Pyrrolidone and N-Octyl-2-Pyrrolidone (NOP) at its Geismar, Louisiana, Verbund site. The production is anticipated to be on-stream in the second half of 2022 and will ensure a global supply of HEP and NOP. "Our customers want to continue to grow in the ink, automotive and agricultural markets and will need increasing quantities for the foreseeable future. We can accompany these growth plans thanks to our double-digit-million-dollar investment by BASF in Geismar.” Erika Peterman, Senior Vice President, Chemical Intermediates, North America “It became clear that our facility in Geismar would make a perfect fit for increased production of HEP and NOP in the region,” explained Stefanie Demming, Vice President, Operations & Technology, Chemical Intermediates, North America. “We are pleased to take on a global supply role in North America.” N-(2-Hydroxyethyl)-2-Pyrrolidone (HEP) is a versatile chemical intermediate. It proves essential as (co)-solvent for the production of crop protection agents, electronic, coating and inkjet formulations. N-Octyl-2-Pyrrolidone (NOP) is a versatile chemical intermediate used particularly as a solvent and low-foaming surfactant. Among other things, NOP is used as a solvent in the production of crop protection active ingredients, it is also used as a wetting agent in dishwashing detergents as well as various automotive applications. About BASF BASF Corporation, headquartered in Florham Park, New Jersey, is the US affiliate of BASF SE, Ludwigshafen, Germany. BASF has more than 16,700 employees in North America and had sales of $25.9 billion in 2021. At BASF, we create chemistry for a sustainable future. We combine economic success with environmental protection and social responsibility. Around 111,000 employees in the BASF Group contribute to the success of our customers in nearly all sectors and almost every country in the world. Our portfolio comprises six segments: Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care and Agricultural Solutions. BASF generated sales of €78.6 billion in 2021. BASF shares are traded on the stock exchange in Frankfurt (BAS) and as American Depositary Receipts in the U.S. Further.

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CHEMICAL MANAGEMENT

Sinopec Capital and Johnson Matthey explore strategic collaboration across decarbonisation and hydrogen technologies

Johnson Matthey | August 04, 2022

On 2nd August 2022, A Memorandum of Understanding signed by Sinopec Capital and Johnson Matthey China signals the start of active dialogues to explore joint possibilities across green and blue hydrogen, fuel cells, decarbonisation technologies and circular economy business in China. Mr ZHOU Meiyun, Deputy Chairman and General Manager of Sinopec Capital, said: "Sinopec has made its long term development strategic goal and dedicated to become a No.1 hydrogen company in China and a leading clean energy company in the world. Sinopec is committed to develop and use various carbon reduction technologies including energy conservation and reduction, green energy replacement, and CCUS technologies and makes full efforts to reach the carbon neutralization target before 2060. We wish to have a deep collaboration with Johnson Matthey in carbon reduction and green energy fields to fully support achieving China's national strategic goal of 30/60 carbon peak/carbon neutralization." "Johnson Matthey has a long heritage in China. We are China's leading auto catalyst producer, one of the largest platinum group metals refiners, a leading player across syngas and hydrogen fuel cells, and the first commercial scale MEA producer in China. Some of the world's biggest companies already rely on our technologies, and we are very excited to explore how we can work with Sinopec to expand our businesses whilst creating and scaling the low carbon solutions that help China achieve the carbon neutrality by 2060." Dr Mark Su, Johnson Matthey's China President Sinopec is the largest oil and petrochemical products supplier and the second largest oil and gas producer in China. It is also the largest refining company and the second largest chemical company in the world. Sinopec Capital is a fully owned subsidiary of Sinopec Group launched in 2018 with RMB10bn initial paid-in registered capital. The company makes strategic equity investment activities on new energy, new material, energy conservation and environmental protection, advanced manufacturing, big data and artificial intelligence to support Sinopec Group transforming from a traditional energy provider to a leading clean energy company in the world. Johnson Matthey is a global leader in sustainable technologies that enable a cleaner and healthier world. Its technologies have a global impact in areas such as low emission transport, energy, chemical processing and making the most efficient use of the planet's natural resources. It is a world leading hydrogen technologies player, with technologies supporting the development and production of green and blue hydrogen and fuel cells. Its China business started in 1993, growing to a top 50 company in Shanghai. It has 6 state-of-the art manufacturing facilities, proudly delivering over 120 million auto catalysts over the last 2 decades. It is the leading membrane electrode assembly (MEA) producer in China, and produced the MEAs for hydrogen fuel cell shuttle buses showcased in the Beijing Winter Olympic 2022. About JM Johnson Matthey is a global leader in sustainable technologies that enable a cleaner and healthier world. With over 200 years of sustained commitment to innovation and technological breakthroughs, we improve the performance, function and safety of our customers' products. Our science has a global impact in areas such as low emission transport, energy, chemical processing and making the most efficient use of the planet's natural resources. Today about 15,000 Johnson Matthey professionals collaborate with our network of customers and partners to make a real difference to the world around us.

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CHEMICAL MANAGEMENT

Hexagon successfully acquires 40 percent stake in Cryoshelter, unlocking new opportunities for Hexagon Agility and Hexagon Purus

Hexagon Agility | August 02, 2022

On 21 April 2022 Hexagon Composites and Hexagon Purus announced that it signed an agreement to acquire a 40% stake in Cryoshelter GmbH, an Austria based company specialized in the development of cryogenic tank technology for liquid natural gas and liquid hydrogen. Hexagon is pleased to announce that the transaction has been successfully completed, and Hexagon Composites now owns 40% of Cryoshelter's LNG/RLNG business, with options to buy remaining interests over the next 3-10 years. Hexagon Purus has also completed the acquisition of its previously announced 40% stake in Cryoshelter’s LH2 business. The Hexagon Group today provides compressed natural gas including renewable natural gas (RNG), compressed hydrogen and battery-electric systems as part of its portfolio of clean fuel vehicle solutions. Liquid storage of (renewable) natural gas and hydrogen will add a new dimension to its existing offering, complementing its portfolio and unlocking new opportunities for Hexagon Agility and Hexagon Purus, respectively. Commercializing and Industrializing Cryoshelter Tanks The Hexagon and Cryoshelter partnership will accelerate Cryoshelter’s existing LNG/RLNG technology and production capability and use the LNG technology platform to further develop LH2 solutions for the heavy-duty transportation sector. “Cryoshelter’s disruptive technology will further strengthen our efforts to drive decarbonization of heavy-duty vehicles, with a special emphasis on the European market where clean, energy efficient cryogenic LNG/RLNG fuels are needed due to limited space on trucks,” says Seung Baik, President Hexagon Agility. “We are excited to be working together with Cryoshelter to further develop the technology and scale up the business over the coming years.” “The investment into Cryoshelter’s early phase LH2 tank technology brings expertise in LH2 tank technology for zero emission mobility applications and could potentially result in a future complementary offering to Hexagon Purus’ leading compressed hydrogen cylinder technology,” Morten Holum, CEO Hexagon Purus “We are excited to team up with Hexagon as they bring industrial expertise, a global presence and customer potential to escalate the scale up of our operations,” says Dr. Matthias Rebernik, CEO and Founder of Cryoshelter. “Hexagon’s investment into our company is proof of confidence in our state-of-the-art technology.” Cryoshelter is split into separate legal entities for the LNG/RLNG and LH2 businesses. Hexagon Agility and Hexagon Purus will take two seats each on the respective boards of Cryoshelter’s two businesses. Expanding clean fuel options for commercial trucks In contrast with North America, where compressed natural gas is the primary natural gas technology for long-haul trucking, LNG/RLNG has emerged as the leading natural gas alternative in Europe due to a significant infrastructure network, favorable cost position and preferred truck configuration. Over the last several years, the number of new LNG truck registrations and fueling stations have increased significantly, and higher growth is expected over the next decade as fleet operators are opting for readily available, cost competitive fuels with immediate emission saving potential such as biomethane (or RNG). In liquid form, natural gas has a higher energy density. Cryoshelter’s technology will leverage this energy density to better utilize vehicle frame rail space and provide a driving range that is comparable to diesel. Supported by European legislation, it is expected that renewable natural gas, alongside battery-electric and fuel cell-electric technologies will play a key role in the efforts to decarbonize the commercial transportation sector in Europe. Liquid hydrogen, a compelling future alternative Hydrogen is gathering strong momentum as a key energy transition pillar towards zero emission, and is underpinned by a global shift of regulators, investors, and consumers increasingly focused on decarbonization. It has become clear that hydrogen will play a key role in decarbonizing “hard to abate” sectors. Liquid hydrogen storage technology can offer higher energy density compared to compressed hydrogen storage, and in space and/or payload-constrained applications, such as certain heavy-duty trucking applications, shipping, commercial aviation, and aerospace, it could be a compelling future alternative.

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