CHEMICAL MANAGEMENT, PRODUCTS AND TECHNOLOGIES
Businesswire | March 27, 2023
New Energy Risk a wholly owned division of Paragon Insurance Group, and Green Circle, a wholly-owned division of Lummus Technology, announce a strategic partnership in which NER will serve as the preferred insurance supplier for Green Circle’s advanced waste plastic recycling technology.
Upon completing a thorough due diligence process, NER is prepared to provide technology performance insurance solutions to plant owners and operators who license Green Circle’s advanced waste plastic recycling technology. Since 2013, NER’s performance insurance has enabled the financing of over $3 billion for development of new and renewable clean energy technologies and other circular economy projects.
“NER provides an extremely valuable service to project owners looking to deploy early-stage technologies at scale through project finance,” said Greg Shumake, Managing Director of Green Circle. “They thoroughly evaluated our advanced waste plastic pyrolysis technology and are confident in its commercial viability. And as a result, it will be easier for our clients to develop bankable projects to drive a more circular economy.”
The waste plastic pyrolysis technology uses a thermochemical process for turning end-of-life plastics into a high-quality product that can be used to reduce the carbon intensity in the production of both transportation fuels and circular plastics. Green Circle is working across the sector, from Fortune 500 companies to independent project developers, to deploy technologies that close the loop of the plastic product lifecycle.
“Green Circle’s advanced waste plastic pyrolysis technology has been developed with a level of expertise and discipline that is rare,” said Brad Price, Managing Director of Technical Due Diligence at New Energy Risk. “We are proud to help accelerate the adoption of this technology by providing assurance to owners and investors that this technology will perform.”
Green Circle concentrates and expands Lummus Technology’s capabilities to capture new opportunities in the energy transition and circular economy. Green Circle is a leader in providing economically and technically sound solutions to: process solid wastes containing plastics; process various renewable bio-based feedstocks to value-added chemicals, polymers and fuels; decarbonize refinery and petrochemicals assets; and expand production of blue hydrogen and biofuels.
About Lummus Technology
Lummus Technology is the global leader in developing technology solutions that make modern life possible and focus on a more sustainable, low carbon future. We license process technologies in clean fuels, renewables, petrochemicals, polymers, gas processing and supply lifecycle services, catalysts, proprietary equipment and digitalization to customers worldwide.
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CHEMICAL MANAGEMENT
Businesswire | June 01, 2023
New research from NuScale Power demonstrates the advanced capabilities of NuScale small modular reactors (SMRs) for reducing emissions in industrial sectors, which is critical to meeting global climate goals. Led by Co-Founder and Chief Technology Officer Dr. José Reyes, the benchmarked research found that NuScale SMRs have the potential for use in a wide variety of high-temperature industrial processes not previously envisioned using light water reactor (LWR) technology, such as heavy to light oil conversion, bulk plastic waste recycling, dissolving heavy oil to produce gasoline additives, and light plastics for the regeneration of products like synthesis gas. This capability will provide oil refiners and chemical companies with new options to decarbonize their operations and products using carbon-free nuclear energy.
NuScale’s research shows that the steam generated by a single NuScale Power Module™ can be compressed and heated to produce process steam at commercial scale, temperatures, and pressures. The lower steam temperatures and pressures from a LWR typically requires conditioning prior to injection into a high temperature/high pressure process. Dr. Reyes and team have found that a single NPM, generating 250 MWt, can produce >500,000 lb/hr of steam at 1,500 psia and 500ºC (932oF) with the potential to extend production to 2,400 psia and over 650ºC (1200oF). In a 12-module, VOYGR™-12 plant, 3 GW of thermal power is produced, offering both electrical power and large volumes of superheated steam from a plant that can be safely located near major industrial processes.
“The compression heating systems we have proposed through this new research are an ideal application for NuScale’s VOYGR plants and could also broaden the role of LWRs in global decarbonization efforts,” said Dr. Reyes. “These new findings strengthen the use case for NuScale’s advanced SMR technology.”
NuScale will continue to explore the enhanced flexibility, reliability, and economics of multi-module steam generation that is augmented by cost-effective and high-efficiency steam compression and heating. NuScale is presently collaborating with end-users of steam, electric power, and hydrogen to assess and optimize Integrated Energy Systems, with plans to support industry clean energy goals at a commercial scale.
The findings are underscored by NuScale’s unparalleled safety features that enable VOYGR plants to operate both off-grid and to achieve a site boundary Emergency Planning Zone for most U.S. plant locations. VOYGR plants can be located closer to end-users, which reduces heat losses due to steam transport and results in a higher efficiency industrial energy system.
About NuScale Power
NuScale Power Corporation is the industry-leading provider of proprietary and innovative advanced small modular reactor nuclear technology, with a mission to help power the global energy transition by delivering safe, scalable, and reliable carbon-free energy. The company’s groundbreaking VOYGR™ SMR plants are powered by the NuScale Power Module™, a small, safe, pressurized water reactor that can each generate 77 megawatts of electricity (MWe) or 250 megawatts thermal (gross), and can be scaled to meet customer needs through an array of flexible configurations up to 924 MWe (12 modules) of output.
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PRODUCTS AND TECHNOLOGIES, MARKET OUTLOOK
Businesswire | May 31, 2023
LSB Industries, Inc. and Amogy Inc. jointly announced they have entered into a memorandum of understanding (MOU) aimed at promoting the adoption of low-carbon ammonia as a marine fuel, initially for the U.S. inland waterways transportation sector. Through joint efforts, the companies will focus on advancing the understanding, utilization, and advocacy of low-carbon ammonia as a sustainable fuel.
Pursuant to the MOU, the companies will collaborate on the evaluation and development of a pilot program that integrates LSB’s low carbon ammonia and Amogy’s ammonia-to-power solution. Upon successful completion of the evaluation and pilot program, the companies expect to further collaborate on a larger-scale development, including exploration of opportunities for development of an end-to-end supply chain of low carbon ammonia and deployment of Amogy technology across multiple applications, including maritime vessels. The evaluation and pilot program includes potential engagement with other parties across the ammonia value chain. The two parties will also collaborate on various advocacy, education, and outreach efforts regarding the use of ammonia as a fuel.
President, and Chief Executive Officer of LSB Industries, Mark Behrman, stated, “Our vision at LSB is to be a leader in the energy transition through the production of low and no carbon products. This collaboration agreement is an exciting step in our journey toward achieving our goals and we’re thrilled to be working with such an outstanding partner in Amogy.”
“We’re delighted by this opportunity to work with LSB to advance the development of a low-carbon ammonia supply chain primarily in the US,” says Seonghoon Woo, CEO of Amogy. “The success of this collaboration will be a key step toward solidifying ammonia's position as a comprehensive solution for decarbonizing the commercial transportation sector across the entire value chain, from the upstream production to the downstream usage.”
About LSB Industries, Inc.
LSB Industries, Inc., headquartered in Oklahoma City, Oklahoma, is committed to playing a leadership role in the energy transition through the production of low and no carbon products that build, feed and power the world. The LSB team is dedicated to building a culture of excellence in customer experiences as we currently deliver essential products across the agricultural, industrial, and mining end markets and, in the future, the energy markets. The company manufactures ammonia and ammonia-related products at facilities in Cherokee, Alabama, El Dorado, Arkansas and Pryor, Oklahoma and operates a facility for a global chemical company in Baytown, Texas.
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