CHEMICAL TECHNOLOGY, CHEMICAL MANAGEMENT
LanzaTech | February 10, 2023
On February 9, 2023, LanzaTech Global, Inc., originally known as AMCI Acquisition Corp. II, announced the closing of its previously discussed business combination between AMCI and LanzaTech NZ, Inc., a groundbreaking carbon capture and transformation (CCT) company that generates valuable products from waste carbon. LanzaTech is the first CCT company in the US to go public.
In accordance with the closing of the business combination, AMCI is now known as LanzaTech Global, Inc. On February 10, 2023, its common stock is anticipated to begin trading on the Nasdaq under the ticker symbol LNZA. Its public warrants are expected to start trading under the ticker symbol LNZAW.
LanzaTech's gas fermentation technology is intended to provide a profitable path to addressing heavy industry and manufacturing's significant carbon problem. The company believes it can offer a solution that will substantially contribute to resolving the global carbon crisis through technology and applications intended to touch multiple points of carbon use.
Alongside LanzaJet, Inc., a key partner centered on the production of sustainable aviation fuel, the organization has developed a customer, partner, and investor roster ranging from steel producers such as ArcelorMittal to traditional energy companies such as Shell and Suncor Energy to aviation companies such as British Airways, All Nippon Airways, and Virgin Atlantic ensuring commercial validity of its technology.
The approximately $240 million of gross proceeds from the transaction will be utilized to fund the acceleration of the company's commercial operations, capital requirements associated with development projects it has chosen to partner with, and continued technological innovation. The combined company will be led by Dr. Jennifer Holmgren, Chairwoman and CEO of LanzaTech Global, Inc., and other key figures of LanzaTech's executive leadership.
LanzaTech, headquartered in Skokie, Illinois, converts waste carbon into sustainable fuels, packaging, fabrics, and other materials. Utilizing a range of waste feedstocks, the company's technology platform describes a future in which consumers will not rely solely on fossil fuels for their daily needs. Its mission is to challenge and alter how the world utilizes carbon, enabling a new circular economy in which carbon is reused rather than wasted, the environment is kept clean, and pollution is eradicated.
CHEMICAL MANAGEMENT, PRODUCTS AND TECHNOLOGIES
NextDecade Corporation | January 20, 2023
On January 19, 2023, NextDecade Corporation, a liquefied natural gas (LNG) development company committed on LNG associated pipelines and export projects, announced signing a 15-year-long sale and purchase agreement with Itochu Corporation for supplying liquefied natural gas (LNG) from NextDecade's Rio Grande LNG export project based in Brownsville, Texas.
Under the terms of the sale and purchase agreement, ITOCHU Corporation will purchase 1.0 million tonnes per annum (MPA) of LNG on a free-on-board basis, indexed to Henry Hub. ITOCHU Corporation, a leading sogo shosha, engages in import/export, domestic trading, and overseas trading of various products such as machinery, textile, chemicals, metals, minerals, energy, and others.
NextDecade's Chairman and Chief Executive Officer, Matt Schatzman, said, "We are honored to have Itochu Corporation as our first Japanese customer." He also stated, "We look forward to providing Itochu and their customers with LNG, and we are actively working to reduce the carbon footprint of the Rio Grande LNG facility through our proposed carbon capture and storage project."
(Source – Business Wire)
NextDecade aims for a favorable Final Investment Decision (FID) on the initial three trains of the Rio Grande LNG export project in the first quarter of 2023, with FIDs on the other trains to follow after that.
About NextDecade Corporation
Headquartered in Houston, Texas, NextDecade Corporation is an energy corporation expediting the arrival of a future with no net carbon emissions. NextDecade is dedicated to providing the world with cleaner energy with its innovative solutions for more sustainable LNG and carbon capture. Through its wholly-owned subsidiaries NEXT Carbon Solutions and Rio Grande LNG, the organization is developing a 27 MTPA LNG export plant in South Texas as well as one of North America's largest carbon capture and storage projects. It is also working with third-party clients throughout the world to deploy its exclusive processes to reduce CO2 emissions and lower the cost of carbon capture and storage at its industrial-scale facilities.
PRODUCTS AND TECHNOLOGIES, RAW MATERIALS
NOVA Chemicals | February 20, 2023
NOVA Chemicals Corporation has announced the launch of NOVA Circular Solutions, a new business line concentrating on lower-emission, recyclable solutions that will assist in reshaping a better, more sustainable world. NOVA Circular Solutions will house the SYNDIGO™ brand, the company's latest recycled polyethylene (rPE) portfolio.
A team of professionals in plastics development, recycling technology, additive science, package design, and regulatory compliance leads NOVA Circular Solutions. Alan Schrob, director of recycling, has over three decades of expertise in plastics, manufacturing, health, safety, and the environment.
SYNDIGO rPE is meant to assist the recycled content and decarbonization objectives of converters and brands, while also establishing new industry standards to expedite the shift towards a circular economy. The SYNDIGO resins are well-positioned to address the expanding demand for recycled goods in North America.
Commercially available products under the SYNDIGO brand include:
EX-PCR-WR3 resin, mechanically recycled polyethylene (PE) agricultural film for e-commerce mailers, carry-out bags, can liners, protective packaging, and shrink.
EX-PCR-NC4 resin, mechanically recycled from back-of-store distribution center PE stretch film and front-of-store customer drop-off, perfect for heavy-duty sacks, e-commerce mailers, collation shrink, stretch wrap, protective packaging, and industrial films.
EX-PCR-HD5 resin, mechanically recycled HDPE milk jugs for flexible packaging, heavy-duty sacks, and small-part blow molding.
About NOVA Chemicals Corporation
NOVA Chemicals Corporation, founded in 1954, is a Canadian petrochemical business. Its overarching goal is to reinvent plastics for a better, more sustainable society by providing creative solutions that enhance the circular economy. It aims to make daily living healthier and safer via these initiatives while also serving as a spark for a low-carbon, zero-plastic-waste future. Superior product quality, patented high-performance resins, recyclable and recycled polyethylene, value chain cooperation, and an excellent customer experience distinguish the company. These advantages allow clients to employ its resins to make flexible and stiff products for various end-use applications. In addition, with the company's dedication to sustainability and Responsible Care®, its workers seek to assure health, safety, security, and environmental stewardship.