CHEMICAL MANAGEMENT
Sumitomo Corporation of Americas | December 22, 2021
Sumitomo Corporation of Americas, the largest subsidiary of Sumitomo Corporation, one of the world's largest traders and investors of goods and services, announced today its participation in the Japanese Hydrogen Forum . The JH2F is comprised of a group of leading Japanese affiliated companies with hydrogen businesses in the U.S. that are intent on providing the latest information regarding technology and policy in hydrogen energy sectors, including state-of-art integrated hydrogen solutions to support the adoption from governments throughout the country.
Japan and the United States are well aligned on their sustainability goals, especially since President Biden and Prime Minister Suga declared their shared goal of carbon neutrality by 2050. Hydrogen is a carbon-free energy resource, has high energy density to generate electricity and is an affordable source of energy storage. It can also be converted into renewable natural gas through methanation technology as well as into basic material resources such as resin. Even more, hydrogen is expected to be one of the major resources to decarbonize all industrial sectors, including transportation, power generation, heavy industry, commerce, and residential. For these reasons, JH2F was established to support the decarbonization goals of the Federal, State and Municipal governments in the U.S. by identifying and developing hydrogen solutions.
"We are proud to be part of such a strong group of companies that are working toward the same goal of carbon neutrality within the United States. By drawing from our resources in Japan and the U.S., this multinational collaboration will accelerate the adoption of new technologies and solutions to help scale carbon-neutral energy on a nationwide level. We look forward to moving the needle toward achieving this important goal."
Tak Niki, Chief Business Development Officer at Sumitomo Corporation of Americas
JH2F is supported by the Japanese government and Japanese governmental organizations such as Japan External Trade Organization, New Energy and Industrial Technology Development Organization, Japan Oil, Gas and Metals National Corporation and Nippon Export and Investment Insurance. In order to materialize the collaboration on the U.S. side, JH2F will establish subcommittees in each sector, such as hydrogen production and supply, land transportation, port decarbonization, power generation and finance.
"Hydrogen is the ultimate environmental technology that can decarbonize transportation, power generation, industrial heat, and materials. I am glad that an industrial organization based on Japan-US cooperation is established. The Japanese government and its agencies would like to support its activities," said Norihiko Saeki, Special Advisor to the Ministry for Economy, Trade and Industry/ Executive Director at JETRO Los Angeles.
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CHEMICAL MANAGEMENT
Kolon Industries, Inc. | November 09, 2021
Origin Materials Inc. the world’s leading carbon negative materials company with a mission to enable the world’s transition to sustainable materials, and Kolon Industries, Inc. (“Kolon,” “Kolon Industries”), a global leader in chemicals and materials, today announced a strategic partnership to industrialize novel polymers and drop-in solutions for select applications, with an initial focus on automotive applications.
This strategic partnership aims to rapidly develop and industrialize new sustainable carbon-negative products based on Origin Materials’ patented technology platform, leveraging Kolon’s polymerization expertise, application development and supply chain strength. As part of the partnership, Kolon signed a multi-year capacity reservation agreement to purchase sustainable carbon-negative materials from Origin Materials.
The partnership includes co-development aimed at commercializing polyethylene furanoate (“PEF”), a polymer with an attractive combination of performance characteristics for packaging and other applications, including enhanced barrier properties when compared with polyethylene terephthalate (“PET”), degradability, and other qualities. Origin Materials’ technology platform is expected to produce cost-competitive, sustainable, carbon-negative furandicarboxylic acid (“FDCA”), the primary precursor to PEF. Kolon Industries’ deep polymer expertise in novel FDCA-based polymers, including PEF, is expected to introduce world-class carbon-negative polymers and chemistries.
Origin Materials and Kolon believe that Origin’s platform, together with Kolon’s demonstrated expertise in polymer chemistry, manufacturing and application development, can accelerate the deployment of environmentally sustainable products and create profitable, competitively advantaged business opportunities for both companies.
“Origin is a pioneer and a global leader in carbon negative chemical technology, and Kolon Industries is a world leader in chemicals and polymersTherefore, the collaboration between these two companies will ensure both carbon-negative and cost-effective Sustainable Polymer Economy, which will further enable the realization of the Circular Economy.”
Sung Han, Chief Technology Officer of Kolon Group
“Kolon is a highly innovative company and a world leader in polymer development,” said John Bissell, Co-CEO of Origin Materials. “We are thrilled to work together to enable our shared vision for a net zero material economy. This partnership reflects both companies’ commitment to sustainable innovation.”
About Origin Materials
Headquartered in West Sacramento, Origin Materials is the world's leading carbon negative materials company. Origin’s mission is to enable the world’s transition to sustainable materials. Over the past 10 years, Origin has developed a platform for turning the carbon found in inexpensive, plentiful, non-food biomass such as sustainable wood residues into useful materials while capturing carbon in the process. Origin’s patented technology platform can help revolutionize the production of a wide range of end products, including clothing, textiles, plastics, packaging, car parts, tires, carpeting, toys, and more with a ~$1 trillion addressable market. In addition, Origin’s technology platform is expected to provide stable pricing largely decoupled from the petroleum supply chain, which is exposed to more volatility than supply chains based on sustainable wood residues. Origin’s patented drop-in core technology, economics and carbon impact are supported by a growing list of major global customers and investors.
About Kolon Industries, Inc.
Kolon Industries, headquartered in Seoul, Korea, and founded in 1957, is an innovative chemical and material company. Kolon Industries’ vision is Lifestyle Innovator, enriching people’s lifestyle through chemicals and materials that improve and sustain our planet. Kolon Industries has over 60 years of experience in polyester polymerization and its application technology including fiber, film and others. Kolon Industries’ deep experience and proven success in cutting-edge polymer commercialization is expected to secure novel bio-based polymers.
Cautionary Note on Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding Origin Materials’ business strategy, estimated total addressable market, commercial and operating plans and product development plans. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of the management of Origin Materials and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on as, a guarantee, an assurance, a prediction, or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Origin Materials. These forward-looking statements are subject to a number of risks and uncertainties, including that Origin Materials may be unable to successfully commercialize its products; the effects of competition on Origin Materials’ business; disruptions and other impacts to Origin Materials’ business as a result of the COVID-19 pandemic and other global health or economic crises; changes in customer demand; and those factors discussed in the Origin Materials quarterly report on Form 10-Q filed with the SEC on August 16, 2021 under the heading “Risk Factors,” and other documents Origin Materials has filed, or will file, with the SEC. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that Origin Materials presently does not know, or that Origin Materials currently believes are immaterial, that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Origin Materials’ expectations, plans, or forecasts of future events and views as of the date of this press release. Origin Materials anticipates that subsequent events and developments will cause its assessments to change. However, while Origin Materials may elect to update these forward-looking statements at some point in the future, Origin Materials specifically disclaim any obligation to do so. These forward-looking statements should not be relied upon as representing Origin Materials’ assessments of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.
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PRODUCTS AND TECHNOLOGIES
KaMin , IMin Partners | November 19, 2021
KaMin LLC, a global performance minerals company owned by IMin Partners, and BASF announced today that they have entered into a definitive agreement in which KaMin will acquire the BASF kaolin minerals business. Currently, the kaolin minerals business is part of BASF's Performance Chemicals division.
The transaction includes production hub sites in Daveyville, Toddville, Edgar, Gordon and related mines, reserves and mills in Toomsboro and Sandersville in Georgia, USA. The co-located refinery catalysts operations will continue to be owned and operated by BASF's refinery catalysts business and are not part of the divestiture.
"The acquisition of BASF's kaolin business is a transformative step forward in KaMin's strategy. The combination of these two complementary businesses allows us to further diversify our company into growth-oriented markets and augment our overall manufacturing and technical capabilities. By combining BASF's calcine portfolio with KaMin's hydrous products, we will be able to provide a compelling suite of kaolin-based performance mineral solutions to our distributor partners and customers globally."
Michael W. Nelson, President and Chief Executive Officer of KaMin
C. Rankin Hobbs, Partner and Co-Founder of IMin Partners, added, "This deal extends IMin's portfolio in the industrial minerals sector and creates a significant opportunity to deliver enhanced value to all stakeholders — investors, employees, customers and suppliers."
"BASF's kaolin minerals business is a well-positioned player in the growing specialty industrial minerals market. Joining a global performance minerals player will provide a more conducive environment for longer term profitable growth for the business," added Dr. Thomas Kloster, President of BASF's Performance Chemicals division.
The transaction is subject to customary closing conditions and regulatory clearances. Pending approval by the relevant merger authorities, closing of the transaction is expected in the second half of 2022. The parties have agreed not to disclose financial details of the transaction. Grace Matthews, Inc. is serving as the exclusive financial advisor to KaMin and IMin Partners.
About KaMin - KaMin is recognized in the industry as a global supplier with more than 90 years of experience in delivering performance mineral solutions in a broad spectrum of end-use markets including: building & construction, automotive & catalyst, agriculture, health & beauty, packaging, and specialty & graphic paper. The company mines, produces, and distributes its products from its three U.S. plants located in Georgia — Macon, Sandersville and Wrens — and internationally through their Cadam subsidiary facilities in Brazil and Europe.
About IMin Partners - IMin Partners is a capital source and a strategic partner to businesses, owners and management teams in the specialty raw materials industry. With an exclusive focus on the industrial minerals and specialty chemicals industries, our core competencies include equity capital investments, operational and market expertise, alignment of interests and development of culture.
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