PRODUCTS AND TECHNOLOGIES
Fusion Fuel Green PLC | January 25, 2022
Fusion Fuel Green PLC, a green hydrogen technology company, announced today that it has signed a collaboration agreement with AESA, a leading Spanish industrial engineering services company and a pioneer in the decarbonization of industrial energy. The agreement aims to accelerate the decarbonization of Spain’s commercial and industrial base and aligns with the objectives established in Spain’s Hydrogen Roadmap.
The partnership combines Fusion Fuel’s disruptive solar-to-hydrogen technology with AESA’s engineering solutions and track record in industrial power, co-generation and decarbonization projects. AESA has over 40 years of experience providing such services to large, energy intensive clients in the power, refining, chemical, cement, paper, agro-industrial and manufacturing sectors.
The two companies will focus on the substitution of the more than 500,000 MTs of grey hydrogen consumed annually by industry today in Spain, the transition to FCEV and hydrogen-fueled vehicles for logistics and haulage fleets, as well as the decarbonization of power generation and industrial heating. Fusion Fuel and AESA are actively developing decarbonization projects with major industrial clients who are well-positioned to benefit from the recently announced capex subsidy programs aimed at incentivizing the innovative use of green hydrogen technology across the industrial value chain.
“we are excited to announce this strategic partnership with AESA, which establishes a platform for catalyzing the decarbonization of Spanish industry. By jointly going to market, Fusion Fuel and AESA together form the leading-edge provider of turnkey, low-cost green hydrogen solutions for decarbonizing industrial processes, thermal energy, and heavy commercial vehicles. We expect that our clients’ projects will be considered a priority for both Spanish and EU subsidy programs aimed to spur the energy transition and the development of the hydrogen economy.”
Commenting on the agreement, João Wahnon, Fusion Fuel’s Head of Business Development
Raimon Argemí, General Manager of AESA, stated, “the potential to provide our clients with decarbonization solutions based on proven competitive green hydrogen technical represents a fundamental quantum leap when it comes to tackling decarbonization projects. In this sense, we are convinced that the collaboration between AESA and Fusion Fuel will contribute to accelerating the availability of green hydrogen and the energy transition of our economy.”
About Fusion Fuel Green PLC
Fusion Fuel is an emerging leader in the green hydrogen sector committed to accelerating the energy transition through the development of disruptive, clean hydrogen technology. Fusion has created a revolutionary, integrated solar-to-hydrogen solution that enables off-grid production of hydrogen with zero carbon-emissions. Fusion Fuel’s business lines include the sale of electrolyzer technology to customers interested in building their own green hydrogen production, the development of turnkey hydrogen plants to be owned and operated by Fusion Fuel, and the sale of green hydrogen as a commodity to end-users through long-term hydrogen purchase agreements.
AESA is an engineering and consultancy company specialized in energy projects with a presence in Spain, Mexico and Colombia. The company is focused on the development of high efficiency energy solutions applied to a wide range of industrial processes, and in the tertiary sector, with a particular focus in the fields of cogeneration, thermal recovery. AESA carries out all the activities required in any given energy project: from preliminary studies, inception, concept studies, engineering, procurement assistance, construction, commissioning, testing and O&M management. AESA is a pioneer in the provision of services and solutions for the decarbonization of Spanish industry in Spain and abroad and has developed a specific methodology and service offering focused on this theme and market opportunity.
SOCMA | October 08, 2020
The Society of Chemical Manufacturers & Affiliates (SOCMA) today testified before the U.S. International Trade Commission (ITC) on the Economic Impact of Trade Agreements Implemented Under Trade Authorities Procedures, 2021 Report. The testimony focused on encouraging ITC to adopt the Rules of Origin from the United States–Mexico–Canada Agreement (USMCA) in future free trade agreements (FTAs) and additional barriers to trade and growth of the specialty chemicals industry. "USMCA has drastically improved conditions for specialty chemical manufacturers and SOCMA members, who have found benefit from the modernized chemicals rules of origin," said Robert F. Helminiak, SOCMA's Vice President, Legal & Government Relations. "We encourage USITC to maintain these standards in future trade agreements."
Huntsman | December 08, 2020
Huntsman Corporation today reported its consent to secure Gabriel Performance Products, a North American forte substance maker of strength added substances and epoxy restoring specialists for the coatings, glues, sealants and composite end-markets, from reserves claimed by Audax Private Equity.
Under terms of the arrangement, Huntsman will pay $250 million, subject to standard shutting changes, in an all-money exchange subsidized from accessible liquidity. Gabriel had 2019 incomes of around $106 million with three assembling offices situated in Ashtabula, Ohio, Harrison City, Pennsylvania and Rock Hill, South Carolina. In light of schedule year 2019, the price tag speaks to a changed EBITDA different of roughly multiple times, or around multiple times professional forma for cooperative energies. The exchange is required to shut in the main quarter of 2021 after administrative endorsements.
Remarking on the obtaining, Scott Wright, President of Huntsman's Advanced Materials division, stated: "The procurement of Gabriel Performance Products expands the contribution in our strength portfolio and is reciprocal to our ongoing securing of CVC Thermoset Specialties. Gabriel makes exceptionally specific hardening and restoring specialists and different added substances utilized in a wide scope of composite, glue and coatings applications. We expect that the Gabriel business will fortify our North America impression and give critical business collaborations as we grow and globalize their claim to fame items over our worldwide impression and client base. The securing will additionally upgrade our intensity and our top notch definitions business by improving our capacity to make separation in our clients' applications."
Peter Huntsman, Chairman, President and CEO further remarked: "With this obtaining we finish up a progression of vital activities in our Advanced Materials division we began in 2019 preceding the COVID-19 pandemic. Our underlying goal was to finished the acquisitions of Gabriel and CVC all the while, along with the divestiture of our India DIY business recently. Regardless of the difficulties made by COVID, I am satisfied that we have just shut on two of the exchanges and mean to close on the obtaining of Gabriel inside the principal quarter of 2021. We have altogether reinforced our Advanced Material's portfolio and widened our contributions to the market. In light of 2019 outcomes, when netting the three exchanges together, we are adding around $57 million of changed EBITDA professional forma for cooperative energies to our Advanced Materials division, for under multiple times EBITDA."