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THE INTELLIGENT ENTERPRISE FOR THE OIL AND GAS INDUSTRY

April 30, 2021 | 15 views

Learn SAP’s perspective on where the oil and gas industry will go and how SAP contributes to the evolution of the industry in a digital world.

SAP Industries White Paper  |  Oil and Gas© 2021 SAP SE or an SAP affiliate company. All rights reserved. 2“In the experience economy, oil and gas companies that are intelligent enterprises embrace market standards and the cloud to innovate and differentiate.”

Spotlight

KCC Corporation

KCC Corporation (renamed from Kumkang Korea Chemicals Co., Ltd. on February 25, 2005, KRX: 002380) is one of the leading industrial material and fine chemical manufacturing company, headquartered in Seoul, South Korea.

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CHEMICAL TECHNOLOGY

How Leading Chemical Companies Protect Customer Data Online

Article | June 11, 2021

Cybersecurity concerns must be considered in order for the chemical sector to succeed with digital commerce; simply listing your products on an online store and crossing your fingers won't cut it. It is crucial to pick a spouse who is aware of these hazards and has a strong defense in place. It is evident that the sector has massive potential for online sales, but selling chemicals online is different from selling common consumer goods online. Who your consumers are and how you gather and maintain data about them raise severe security and privacy problems. Chemical company leaders have every right to be concerned about the privacy of their data, given that one cyber attack occurs every 11 seconds. However, they should still go online because there is too much business risk in not taking advantage of the digital opportunity. Deloitte estimates that the chemical sector alone sold over $27 billion worth of goods online in 2020. More than half (58%) of chemical purchasers reportedly stated that they would transfer providers if their demands, which include demands for a fantastic digital experience, were not delivered. The objective is to limit risk and create a secure digital sales environment rather than dismissing e-commerce due to cybersecurity issues. Setting up the appropriate IT infrastructure: Building for convenience and security is possible thanks to new IT technologies. Emphasis on confirming identification: Always be aware of who you are dealing with, regardless of whether they came through a digital or physical means. Offering simple (and safe) reorder alternatives to clients that have been verified. It's ideal for business owners in the chemical sector who want to test selling online but are concerned about data collecting, security, and privacy for my company and customers.

Read More
CHEMICAL TECHNOLOGY

Future-Proofing the Chemical Industry with Digitalization

Article | June 21, 2021

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.

Read More
CHEMICAL TECHNOLOGY

Key Trends in the Digital Transformation of the Chemical Industry

Article | July 20, 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.

Read More
CHEMICAL MANAGEMENT

The Future of Supply Chain Management for Chemical Companies

Article | July 8, 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.

Read More
CHEMICAL TECHNOLOGY

The State of Intelligent Operations in Oil and Gas

Article | June 11, 2021

Cybersecurity concerns must be considered in order for the chemical sector to succeed with digital commerce; simply listing your products on an online store and crossing your fingers won't cut it. It is crucial to pick a spouse who is aware of these hazards and has a strong defense in place. It is evident that the sector has massive potential for online sales, but selling chemicals online is different from selling common consumer goods online. Who your consumers are and how you gather and maintain data about them raise severe security and privacy problems. Chemical company leaders have every right to be concerned about the privacy of their data, given that one cyber attack occurs every 11 seconds. However, they should still go online because there is too much business risk in not taking advantage of the digital opportunity. Deloitte estimates that the chemical sector alone sold over $27 billion worth of goods online in 2020. More than half (58%) of chemical purchasers reportedly stated that they would transfer providers if their demands, which include demands for a fantastic digital experience, were not delivered. The objective is to limit risk and create a secure digital sales environment rather than dismissing e-commerce due to cybersecurity issues. Setting up the appropriate IT infrastructure: Building for convenience and security is possible thanks to new IT technologies. Emphasis on confirming identification: Always be aware of who you are dealing with, regardless of whether they came through a digital or physical means. Offering simple (and safe) reorder alternatives to clients that have been verified. It's ideal for business owners in the chemical sector who want to test selling online but are concerned about data collecting, security, and privacy for my company and customers.

Read More
CHEMICAL TECHNOLOGY

Reimagining the Workforce with Anglo American

Article | June 21, 2021

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.

Read More
CHEMICAL TECHNOLOGY

Ways Your Chemical Company Can Benefit From Digitization

Article | July 20, 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.

Read More
CHEMICAL MANAGEMENT

The Future of Supply Chain Management for Chemical Companies

Article | July 8, 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.

Read More
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Spotlight

KCC Corporation

KCC Corporation (renamed from Kumkang Korea Chemicals Co., Ltd. on February 25, 2005, KRX: 002380) is one of the leading industrial material and fine chemical manufacturing company, headquartered in Seoul, South Korea.

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CHEMICAL MANAGEMENT

Interzero and Eastman Reach Long-Term Supply Agreement for Planned Molecular Recycling Facility in France

Eastman | September 26, 2022

Interzero and Eastman announced a long-term supply agreement for Eastman's previously announced molecular recycling facility in Normandy, France. Interzero will provide up to 20,000 metric tonnes per year of hard-to-recycle PET household packaging waste that would otherwise be incinerated. Interzero Plastics Recycling, as part of Interzero, is an innovation leader in plastics recycling with the largest sorting capacity in Europe and many years of experience. Headquartered in Germany, Interzero is a leading service provider of circular solutions in Europe and is strongly connected to its sister company ALBA Group ASIA both led by Chairman and Shareholder, Dr. Axel Schweitzer. Eastman's planned molecular recycling facility in France will become the world's largest material-to-material molecular recycling plant. Once complete, the facility will recycle approximately 160,000 tonnes of hard-to-recycle polyester waste annually. The project is expected to be operational in 2025. "Eastman is a leader in molecular recycling with decades of innovation expertise. Joining forces by combining the leading know how of Eastman and Interzero is the next step in closing the loop with our partners and a step closer towards a world without waste. The world is facing a plastic waste crisis with far too little plastic waste being recycled, either from lack of collection or because it simply cannot be recycled by traditional methods. Eastman's innovative process and this agreement bring a solution to this." Jacco de Haas, chief commercial officer at Interzero Plastics Recycling Chemical recycling is a necessary complement to mechanical recycling to keep more raw materials in the loop. Both companies are committed to creating material circularity. Eastman's facility in France will process colored and opaque PET waste that cannot be recycled mechanically to create clear and transparent rPET upon completion. "Interzero and Eastman are committed to reducing plastic waste and creating circularity through collaboration and innovation," said Brad Lich, Eastman executive vice president and chief commercial officer. "This agreement marks an important milestone towards Eastman's investment in France. We are happy to build a strong collaboration in Europe with Interzero to provide a portion of the feedstock needed to successfully operate our facility. The collaboration reinforces the complementary nature of mechanical and molecular recycling, and the importance of working together to create true circularity." Eastman's proven polyester renewal technology provides true circularity for hard-to-recycle plastic waste that remains in a linear economy today. This material is typically incinerated because it either cannot be mechanically recycled or must be downcycled using existing technology. Eastman's chemical recycling technology allows this hard-to-recycle waste to be broken down into its molecular building blocks and then reassembled to become first-quality material without any compromise in performance. Eastman's polyester renewal technology enables the potentially infinite value of materials by keeping them in production, lifecycle after lifecycle. With the technology's inherent efficiencies and the renewable energy sources available in France, materials can be produced with significantly less greenhouse gas emissions than traditional methods. About Interzero Interzero is an innovation leader in plastics recycling with the largest sorting capacity in Europe and one of the leading environmental service providers in the field of closing product, material, and logistics cycles. Under the guiding principle of "zero waste solutions", the company advises over 20,000 customers throughout Europe on the responsible handling of recyclable materials, thus helping them to improve their own sustainability performance and conserve primary resources. With about 2,000 employees, the company achieves a turnover of over one billion euros (2021). In 2020 alone Interzero saved 1.4 million tonnes of greenhouse gases compared to primary production and at the same time 12.3 million tonnes of primary raw materials through its recycling activities. About Eastman Founded in 1920, Eastman is a global specialty materials company that produces a broad range of products found in items people use every day. With the purpose of enhancing the quality of life in a material way, Eastman works with customers to deliver innovative products and solutions while maintaining a commitment to safety and sustainability. The company's innovation-driven growth model takes advantage of world-class technology platforms, deep customer engagement, and differentiated application development to grow its leading positions in attractive end markets such as transportation, building and construction, and consumables. As a globally inclusive and diverse company, Eastman employs approximately 14,000 people around the world and serves customers in more than 100 countries. The company had 2021 revenues of approximately $10.5 billion and is headquartered in Kingsport, Tennessee, USA. In Europe, Middle East and Africa (EMEA), Eastman employs approximately 2100 and is present in 10 countries. EMEA accounted for 26 percent of Eastman's total sales revenue in 2021.

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CHEMICAL TECHNOLOGY

Lithium Americas Enters Strategic Collaboration Agreement with Green Technology Metals

Lithium Americas | September 21, 2022

Lithium Americas Corp. is pleased to announce it has entered a Strategic Collaboration Agreement with Green Technology Metals Ltd. to advance a common goal of developing an integrated lithium chemical supply chain in North America. “The collaboration between the groups has already commenced alongside Primero Group, making the combination of hard rock lithium development and processing one of world-renowned experience that will continue the growth of both businesses. Both GT1 and Lithium Americas have the shared objective of building the pre-eminent vertically integrated lithium business in North America. With the recent passing of the IRA, and the substantial domestic battery minerals sourcing requirements this imposes on car manufacturers seeking to attract consumer tax credits for their vehicles, the value of this end goal has increased further again.” GT1’s Director, Cameron Henry In North America, Lithium Americas is focused on developing its 100%-owned Thacker Pass project in Humboldt County, Nevada. The Company has received all federal and state permits necessary to begin construction and awaits a ruling on an appeal filed against the Bureau of Land Management on the issuance of the Record of Decision. The Company is actively preparing to commence construction, including planning early-works construction for late 2022, finalizing the selection of an engineering, procurement and construction management firm, hiring lead construction and project management roles, advancing financing and offtake discussions, and progressing the U.S. Department of Energy Advanced Technology Vehicles Manufacturing loan program. ABOUT GREEN TECHNOLOGY METALS GT1 is a North American focused lithium exploration and development business. GT1’s Ontario Lithium Projects comprise high-grade, hard rock spodumene assets (Seymour, Root and Wisa) and lithium exploration claims (Allison and Solstice) located on highly prospective Archean Greenstone tenure in north-west Ontario, Canada. GT1’s strategy is to build a vertically integrated lithium business in Ontario. ABOUT LITHIUM AMERICAS Lithium Americas is focused on advancing lithium projects in Argentina and the United States to production. In Argentina, Caucharí-Olaroz is advancing towards first production and Pastos Grandes represents regional growth. In the United States, Thacker Pass has received its Record of Decision and is advancing towards construction. The Company trades on both the Toronto Stock Exchange and on the New York Stock Exchange, under the ticker symbol “LAC”.

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CHEMICAL TECHNOLOGY

LyondellBasell Named to the FTSE4Good Index

LyondellBasell Industries | September 21, 2022

LyondellBasell a leader in the global chemical industry, announced it has been named to the FTSE4Good Index Series. Created by the global index and data provider FTSE Russell, the FTSE4Good Index Series is designed to measure the performance of companies demonstrating strong Environmental, Social and Governance (ESG) practices. The FTSE4Good indexes are used by a wide variety of market participants to create and assess responsible investment funds and other products. "We are all judged by the actions we take and being included in the FTSE4Good Index Series demonstrates LyondellBasell is on the right path. We recognize there is still more work to do. We intend to build upon our foundation, while continuing to advance our sustainability goals, ambitions and actions to create a better future for generations to come." Peter Vanacker, LyondellBasell chief executive officer FTSE Russell evaluations are based on performance in areas such as Corporate Governance, Health & Safety, Anti-Corruption and Climate Change. Businesses included in the FTSE4Good Index Series meet a variety of environmental, social and governance criteria. About LyondellBasell As a leader in the global chemical industry, LyondellBasell strives every day to be the safest, best operated and most valued company in our industry. The company's products, materials and technologies are advancing sustainable solutions for food safety, access to clean water, healthcare and fuel efficiency in more than 100 international markets. LyondellBasell places high priority on diversity, equity and inclusion and is Advancing Good with an emphasis on our planet, the communities where we operate and our future workforce. The company takes great pride in its world-class technology and customer focus. LyondellBasell has stepped up its circularity and climate ambitions and actions to address the global challenges of plastic waste and decarbonization. In 2022, LyondellBasell was named as one of FORTUNE Magazine's "World's Most Admired Companies" for the fifth consecutive year.

Read More

CHEMICAL MANAGEMENT

Interzero and Eastman Reach Long-Term Supply Agreement for Planned Molecular Recycling Facility in France

Eastman | September 26, 2022

Interzero and Eastman announced a long-term supply agreement for Eastman's previously announced molecular recycling facility in Normandy, France. Interzero will provide up to 20,000 metric tonnes per year of hard-to-recycle PET household packaging waste that would otherwise be incinerated. Interzero Plastics Recycling, as part of Interzero, is an innovation leader in plastics recycling with the largest sorting capacity in Europe and many years of experience. Headquartered in Germany, Interzero is a leading service provider of circular solutions in Europe and is strongly connected to its sister company ALBA Group ASIA both led by Chairman and Shareholder, Dr. Axel Schweitzer. Eastman's planned molecular recycling facility in France will become the world's largest material-to-material molecular recycling plant. Once complete, the facility will recycle approximately 160,000 tonnes of hard-to-recycle polyester waste annually. The project is expected to be operational in 2025. "Eastman is a leader in molecular recycling with decades of innovation expertise. Joining forces by combining the leading know how of Eastman and Interzero is the next step in closing the loop with our partners and a step closer towards a world without waste. The world is facing a plastic waste crisis with far too little plastic waste being recycled, either from lack of collection or because it simply cannot be recycled by traditional methods. Eastman's innovative process and this agreement bring a solution to this." Jacco de Haas, chief commercial officer at Interzero Plastics Recycling Chemical recycling is a necessary complement to mechanical recycling to keep more raw materials in the loop. Both companies are committed to creating material circularity. Eastman's facility in France will process colored and opaque PET waste that cannot be recycled mechanically to create clear and transparent rPET upon completion. "Interzero and Eastman are committed to reducing plastic waste and creating circularity through collaboration and innovation," said Brad Lich, Eastman executive vice president and chief commercial officer. "This agreement marks an important milestone towards Eastman's investment in France. We are happy to build a strong collaboration in Europe with Interzero to provide a portion of the feedstock needed to successfully operate our facility. The collaboration reinforces the complementary nature of mechanical and molecular recycling, and the importance of working together to create true circularity." Eastman's proven polyester renewal technology provides true circularity for hard-to-recycle plastic waste that remains in a linear economy today. This material is typically incinerated because it either cannot be mechanically recycled or must be downcycled using existing technology. Eastman's chemical recycling technology allows this hard-to-recycle waste to be broken down into its molecular building blocks and then reassembled to become first-quality material without any compromise in performance. Eastman's polyester renewal technology enables the potentially infinite value of materials by keeping them in production, lifecycle after lifecycle. With the technology's inherent efficiencies and the renewable energy sources available in France, materials can be produced with significantly less greenhouse gas emissions than traditional methods. About Interzero Interzero is an innovation leader in plastics recycling with the largest sorting capacity in Europe and one of the leading environmental service providers in the field of closing product, material, and logistics cycles. Under the guiding principle of "zero waste solutions", the company advises over 20,000 customers throughout Europe on the responsible handling of recyclable materials, thus helping them to improve their own sustainability performance and conserve primary resources. With about 2,000 employees, the company achieves a turnover of over one billion euros (2021). In 2020 alone Interzero saved 1.4 million tonnes of greenhouse gases compared to primary production and at the same time 12.3 million tonnes of primary raw materials through its recycling activities. About Eastman Founded in 1920, Eastman is a global specialty materials company that produces a broad range of products found in items people use every day. With the purpose of enhancing the quality of life in a material way, Eastman works with customers to deliver innovative products and solutions while maintaining a commitment to safety and sustainability. The company's innovation-driven growth model takes advantage of world-class technology platforms, deep customer engagement, and differentiated application development to grow its leading positions in attractive end markets such as transportation, building and construction, and consumables. As a globally inclusive and diverse company, Eastman employs approximately 14,000 people around the world and serves customers in more than 100 countries. The company had 2021 revenues of approximately $10.5 billion and is headquartered in Kingsport, Tennessee, USA. In Europe, Middle East and Africa (EMEA), Eastman employs approximately 2100 and is present in 10 countries. EMEA accounted for 26 percent of Eastman's total sales revenue in 2021.

Read More

CHEMICAL TECHNOLOGY

Lithium Americas Enters Strategic Collaboration Agreement with Green Technology Metals

Lithium Americas | September 21, 2022

Lithium Americas Corp. is pleased to announce it has entered a Strategic Collaboration Agreement with Green Technology Metals Ltd. to advance a common goal of developing an integrated lithium chemical supply chain in North America. “The collaboration between the groups has already commenced alongside Primero Group, making the combination of hard rock lithium development and processing one of world-renowned experience that will continue the growth of both businesses. Both GT1 and Lithium Americas have the shared objective of building the pre-eminent vertically integrated lithium business in North America. With the recent passing of the IRA, and the substantial domestic battery minerals sourcing requirements this imposes on car manufacturers seeking to attract consumer tax credits for their vehicles, the value of this end goal has increased further again.” GT1’s Director, Cameron Henry In North America, Lithium Americas is focused on developing its 100%-owned Thacker Pass project in Humboldt County, Nevada. The Company has received all federal and state permits necessary to begin construction and awaits a ruling on an appeal filed against the Bureau of Land Management on the issuance of the Record of Decision. The Company is actively preparing to commence construction, including planning early-works construction for late 2022, finalizing the selection of an engineering, procurement and construction management firm, hiring lead construction and project management roles, advancing financing and offtake discussions, and progressing the U.S. Department of Energy Advanced Technology Vehicles Manufacturing loan program. ABOUT GREEN TECHNOLOGY METALS GT1 is a North American focused lithium exploration and development business. GT1’s Ontario Lithium Projects comprise high-grade, hard rock spodumene assets (Seymour, Root and Wisa) and lithium exploration claims (Allison and Solstice) located on highly prospective Archean Greenstone tenure in north-west Ontario, Canada. GT1’s strategy is to build a vertically integrated lithium business in Ontario. ABOUT LITHIUM AMERICAS Lithium Americas is focused on advancing lithium projects in Argentina and the United States to production. In Argentina, Caucharí-Olaroz is advancing towards first production and Pastos Grandes represents regional growth. In the United States, Thacker Pass has received its Record of Decision and is advancing towards construction. The Company trades on both the Toronto Stock Exchange and on the New York Stock Exchange, under the ticker symbol “LAC”.

Read More

CHEMICAL TECHNOLOGY

LyondellBasell Named to the FTSE4Good Index

LyondellBasell Industries | September 21, 2022

LyondellBasell a leader in the global chemical industry, announced it has been named to the FTSE4Good Index Series. Created by the global index and data provider FTSE Russell, the FTSE4Good Index Series is designed to measure the performance of companies demonstrating strong Environmental, Social and Governance (ESG) practices. The FTSE4Good indexes are used by a wide variety of market participants to create and assess responsible investment funds and other products. "We are all judged by the actions we take and being included in the FTSE4Good Index Series demonstrates LyondellBasell is on the right path. We recognize there is still more work to do. We intend to build upon our foundation, while continuing to advance our sustainability goals, ambitions and actions to create a better future for generations to come." Peter Vanacker, LyondellBasell chief executive officer FTSE Russell evaluations are based on performance in areas such as Corporate Governance, Health & Safety, Anti-Corruption and Climate Change. Businesses included in the FTSE4Good Index Series meet a variety of environmental, social and governance criteria. About LyondellBasell As a leader in the global chemical industry, LyondellBasell strives every day to be the safest, best operated and most valued company in our industry. The company's products, materials and technologies are advancing sustainable solutions for food safety, access to clean water, healthcare and fuel efficiency in more than 100 international markets. LyondellBasell places high priority on diversity, equity and inclusion and is Advancing Good with an emphasis on our planet, the communities where we operate and our future workforce. The company takes great pride in its world-class technology and customer focus. LyondellBasell has stepped up its circularity and climate ambitions and actions to address the global challenges of plastic waste and decarbonization. In 2022, LyondellBasell was named as one of FORTUNE Magazine's "World's Most Admired Companies" for the fifth consecutive year.

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