CHEMICAL TECHNOLOGY

Air Liquide and BASF Welcome Support from European Innovation Fund for Joint CCS Project

Air Liquide, BASF | November 22, 2021

Air Liquide and BASF Welcome Support from European Innovation Fund for Joint CCS Project
Air Liquide and BASF are planning to develop the world’s largest cross-border Carbon Capture and Storage (CCS) value chain. The goal is to significantly reduce CO2 emissions at the industrial cluster in the port of Antwerp. The joint project “Kairos@C” has been selected for funding by the European Commission through its Innovation Fund, as one of the seven large-scale projects out of more than 300 applications.

Kairos@C will be jointly developed by Air Liquide and BASF at its Antwerp chemical site. By avoiding 14.2 million tons of CO2 over the first 10 years of operation, it will significantly contribute to the EU’s goal of becoming climate neutral by 2050.

Besides combining CO2 capture, liquefaction, transportation and storage on a large scale in the North Sea, the project includes several innovative technologies. Notably, for capturing the CO2 from production plants, Air Liquide will use its patented CryocapTM technology and, for drying the CO2, BASF will apply its Sorbead® solution. The project is planned to be operational in 2025.

Kairos@C is paving the way for the next phases of carbon abatement in the port of Antwerp. The project will also be connected to shared CO2 transport and export infrastructures, including a first-of-its-kind CO2 liquefaction and export terminal, which will be built under the framework of “Antwerp@C”, a consortium that aims to halve CO2 emissions in the port of Antwerp by 2030. Air Liquide and BASF are founding members of Antwerp@C.

In line with its sustainability objectives, which include reaching carbon neutrality by 2050, Air Liquide’s ambition is to contribute actively to the emergence of a low carbon society. Energy transition requires tackling complex projects and joining forces of both public and private sectors to make these projects a reality. We are very pleased that the Kairos@C project has been selected by the Innovation Fund and it will contribute towards the EU climate goals, thanks in particular to some innovative Air Liquide technologies. Air Liquide and BASF have been engaged in a strategic partnership in the port of Antwerp for over 50 years and this groundbreaking project opens a new chapter of our cooperation towards developing a more sustainable industry.”

Benoît Potier, Chairman and Chief Executive Officer of Air Liquide

Dr. Martin Brudermüller, Chairman of the Board of Executive Directors of BASF SE says: “BASF wants to reduce its CO2 emissions by 25% by 2030 compared with 2018 and achieve net zero CO2 emissions by 2050. To reach these ambitious goals, we must use all available technologies. Especially for BASF’s Verbund site in Antwerp, due to its prime location in the Port of Antwerp with direct sea access, CCS is an attractive solution to reduce CO2 emissions from production processes on an industrial scale within a relatively short timeframe. Therefore, Kairos@C can become another important step on our path to climate neutrality.”

The European Innovation Fund is one of the world’s largest programs for promoting innovative low-carbon technologies. Receiving this funding is an essential milestone in making a final investment decision and starting the execution of this project.

About Air Liquide
A world leader in gases, technologies and services for Industry and Health, Air Liquide is present in 78 countries with approximately 64,500 employees and serves more than 3.8 million customers and patients. Oxygen, nitrogen and hydrogen are essential small molecules for life, matter and energy. They embody Air Liquide’s scientific territory and have been at the core of the company’s activities since its creation in 1902.

Air Liquide’s ambition is to be a leader in its industry, deliver long-term performance and contribute to sustainability - with a strong commitment to climate change and energy transition at the heart of its strategy. The company’s customer-centric transformation strategy aims at profitable, regular and responsible growth over the long term. It relies on operational excellence, selective investments, open innovation and a network organization implemented by the Group worldwide. Through the commitment and inventiveness of its people, Air Liquide leverages energy and environment transition, changes in healthcare and digitization, and delivers greater value to all its stakeholders.

Air Liquide’s revenue amounted to more than 20 billion euros in 2020. Air Liquide is listed on the Euronext Paris stock exchange (compartment A) and belongs to the CAC 40, EURO STOXX 50 and FTSE4Good indexes.

About BASF
At BASF, we create chemistry for a sustainable future. We combine economic success with environmental protection and social responsibility. More than 110,000 employees in the BASF Group contribute to the success of our customers in nearly all sectors and almost every country in the world. Our portfolio is organized into six segments: Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care and Agricultural Solutions. BASF generated sales of €59 billion in 2020. BASF shares are traded on the stock exchange in Frankfurt (BAS) and as American Depositary Receipts (BASFY) in the U.S.


Spotlight

High-value chemicals and materials; traditional products such as pulp and paper or construction materials; and energy products such as heat, power and transportation fuels. This resurgent industry will continue to provide jobs to the population in rural and small communities across the country, while helping Canada move to a clean energy supply and reduce its carbon footprint.


Other News
CHEMICAL MANAGEMENT

PT Mowilex Is Certified at Net Zero Carbon for the Third Consecutive Year

PT Mowilex Indonesia | December 29, 2021

Paint manufacturer PT Mowilex Indonesia (PT Mowilex) has announced the company's third consecutive year of CarbonNeutral® certification, once again reaching net zero carbon emissions. The company achieved this by purchasing offsets to account for its emissions, based on an assessment of Scope 1, 2 and 3 evaluation that follows The CarbonNeutral Protocol. Emissions calculations and carbon offsets certifications were issued by two independent United States-based entities. In 2019, PT Mowilex became the first Indonesian manufacturer to achieve CarbonNeutral® company certification. Three years later, it remains the only manufacturing company to claim carbon neutrality in its market. The company is fully committed to using the carbon markets to achieve carbon neutrality, while also reducing its emissions across all operations and decreasing its overall environmental impact. PT Mowilex has also introduced VOC disclosure and labeling standards and voluntarily replaced older stocks of its wood and metal paints containing more than 90ppm lead with newly formulated lead-free versions, at no cost to shops and distributors. In the last three years, the company has embarked on efficiency initiatives that reduced air conditioner power use, deployed efficient lighting systems, converted various diesel-powered equipment to electric-powered equipment, and insulated several buildings to reduce energy use. PT Mowilex will also commission a new manufacturing facility in the first quarter of 2022, which is expected to reduce CO2 emissions from its main manufacturing and logistics operations by an estimated 7%. From March 2020 to April 2021, PT Mowilex decreased its gross emissions by 13.2%. Reduced business travel due to COVID-19 protocols accounted for 82% of that drop. "We hope, as much as possible, to permanently adopt these improvements by reevaluating how we operate. We are looking for COVID-related changes that can be incorporated into our routines to minimize our environmental impact whilst creating financial efficiencies," Ms. Esther Sugiono, PT Mowilex CFO "Our strategic pillars are very clear. We lead with quality and sustainability. We've earned numerous product-quality ratings that demonstrate that commitment, and we're earning recognition for our award-winning environmental and CSR initiatives. Both major property developers and homeowners trust in our products," said PT Mowilex CEO Niko Safavi. "Indonesians today have made it clear that they expect companies to be ethical, and they trust brands that offer environmentally responsible products." Since 2020, universities, stadium developers and luxury malls have switched to PT Mowilex products, citing the company's reputation for quality and environmental leadership. In 2021, PT Mowilex purchased carbon offsets from a portfolio of certified projects, including Rimba Raya REDD+ in Seruyan Regency and Katingan Mentaya REDD+ in Katingan Regency, Central Kalimantan, Indonesia.

Read More

CHEMICAL TECHNOLOGY

Eastman to invest up to $1 billion to accelerate circular economy through building world's largest molecular plastics recycling facility in France

Eastman | January 17, 2022

This morning, French President Emmanuel Macron and Eastman Board Chair and CEO Mark Costa will jointly announce Eastman's plan to invest up to $1 billion in a material-to-material molecular recycling facility in France. This facility would use Eastman's polyester renewal technology to recycle up to 160,000 metric tonnes annually of hard-to-recycle plastic waste that is currently being incinerated. The investment would recycle enough plastic waste annually to fill Stade de France national football stadium 2.5 times, while also creating virgin-quality material with a significantly lower carbon footprint. Eastman is the largest investor at this year's "Choose France" event, which is focused on attracting foreign investment to France. This multi-phase project includes units that would prepare mixed plastic waste for processing, a methanolysis unit to depolymerize the waste, and polymer lines to create a variety of first-quality materials for specialty, packaging, and textile applications. Eastman also plans to establish an innovation center for molecular recycling that would enable France to sustain a leadership role in the circular economy. This innovation center would advance alternative recycling methods and applications to curb plastic waste incineration and leave fossil feedstock in the ground. The plant and innovation center would be expected to be operational by 2025, creating employment for approximately 350 people and leading to an additional 1,500 indirect jobs in recycling, energy and infrastructure. A circular economy is key to addressing the global plastic waste crisis and the climate crisis, which have both been at the center of attention in France and throughout Europe. This long-term partnership between France and Eastman will contribute to the EU achieving its sustainability goals, by reducing carbon emissions and enabling a circular economy. France has demonstrated tremendous leadership by recognizing the vital role of molecular recycling and supporting investments in innovation. Eastman's project has also garnered support from an impressive roster of global brands who share its commitment to solving the world's plastic waste problem and view molecular recycling as a pivotal tool for achieving circularity. LVMH Beauty, The Estée Lauder Companies, Clarins, Procter & Gamble, L'Oréal and Danone are leading the way by signing letters of intent for multiyear supply agreements from this facility. 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 with existing technology. This hard-to-recycle waste is 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 greenhouse gas emissions up to 80% less than traditional methods. "Accelerating the transition to a circular economy is one of the main challenges in the years to come. Eastman's substantial investment in France demonstrates our country's willingness to embrace innovative technologies that will help us achieve our ecological and economic ambitions, by revolutionizing our country's plastics recycling capacities. France has always been at the forefront of this journey, and together with Eastman, is giving itself the means to achieve its ambitious plastics recycling targets set for 2025. We are very excited to welcome a company that has a 100-year history of innovation at a global scale and more than 30 years of molecular recycling experience." Barbara Pompili, French Minister for Ecological Transition Agnès Pannier-Runacher, French Delegate Minister for Industry stated, "Eastman's world-scale project will allow France to position itself as a European leader in new technologies for recycling and recovering plastic waste. This investment is the result of the ambitious approach to industrial reconquest led by the Government since 2017, which has enabled France to become the most attractive country in Europe from 2018 onward for industrial projects. With this project, which is an important step for our sovereignty, we are giving ourselves the means to achieve our ambitions in terms of ecological transition while creating sustainable jobs in manufacturing, infrastructure and energy. We look forward to developing this relationship with Eastman." "The investment in France is a significant step forward in Eastman's strategy to accelerate a circular economy globally. Eastman is proud to partner with the French government to actively contribute to France's and the EU's bold commitments," Costa said. "France has demonstrated their commitment toward a sustainable future and Eastman has set similar, ambitious carbon and circular economy goals. The announcement today has been made possible thanks to the support of President Macron, the French government and its agency Business France, who have worked with impressive urgency to enable and incentivize this large and complex project. We look forward to working together for the long term and offer necessary innovations to recycle plastic waste and protect our planet for future generations. "The plan to build the world's largest plastics recycling facility in France is an important part of our overall circular economy strategy," Costa added. "Today's announcement is a key milestone towards our commitment, and we expect to achieve additional milestones in the coming months, including agreements related to securing the plastic waste that will be raw material supply, securing government incentives, and the site location decision." 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.

Read More

CHEMICAL TECHNOLOGY

Universal Display Corporation and PPG to Expand Global Production of UniversalPHOLED Materials

PPG Industries | February 25, 2021

Universal Display Corporation (Nasdaq: OLED) and PPG (NYSE:PPG) today announced that UDC Ireland Limited and PPG will jointly establish a new manufacturing site in Shannon, Ireland, for the production of UDC’s highly efficient, high-performing UniversalPHOLED® materials. The new facility will be designed to double the production capacity and diversify the manufacturing base for UDC’s phosphorescent emitters to meet growing organic light emitting diode (OLED) market demand and evolving industry requirements. PPG is the exclusive manufacturer of UDC’s UniversalPHOLED emitter materials, and the two companies recently celebrated their 20-year partnership. UDC has leased the Ireland site with the right to purchase. Until recently, the site was operating as a full-service, active pharmaceutical intermediates manufacturing facility. It will be adapted to manufacture PHOLED emitters and will be operated by PPG. Facility improvements and regulatory approvals are expected to be completed in the next 12 months, and operations are scheduled to commence in early 2022. “We are very pleased to continue to grow and broaden our strong 20-year relationship of producing high-performance OLED materials for Universal Display,” said Michael H. McGarry, PPG Chairman and Chief Executive Officer. “The addition of the Ireland facility helps support the tremendous demand and growth for energy-efficient displays and lighting devices and expands upon our established OLED production facilities, which are located in Monroeville, Pennsylvania, and Barberton, Ohio.” “We are excited to expand the manufacturing footprint for our proprietary state-of-the-art phosphorescent OLED materials with PPG, our strong, long-term partner, as the next step in our globalization strategy,” said Steven V. Abramson, Universal Display Corporation President and Chief Executive Officer. “UDC’s mission centers on enabling our customers and the proliferation of OLEDs in the consumer electronics landscape. We are continuing to enlarge our global presence, while also bolstering our localized on-the-ground capabilities. Following the recent openings of our PHOLED Application Centers in Korea and Hong Kong, our goal is to establish additional local operations to support our customers. Together with PPG’s best-in-class manufacturing expertise, this investment commitment broadens our global capacity, strengthens our business continuity safeguards and enables us to meet the significant growth expected in the OLED industry.” PPG: WE PROTECT AND BEAUTIFY THE WORLD™ At PPG (NYSE:PPG), we work every day to develop and deliver the paints, coatings and specialty materials that our customers have trusted for more than 135 years. Through dedication and creativity, we solve our customers’ biggest challenges, collaborating closely to find the right path forward. With headquarters in Pittsburgh, we operate and innovate in more than 70 countries and reported net sales of $13.8 billion in 2020. We serve customers in construction, consumer products, industrial and transportation markets and aftermarkets. To learn more, visit www.ppg.com. We protect and beautify the world is a trademark and the PPG Logo is a registered trademark of PPG Industries Ohio, Inc. About Universal Display Corporation Universal Display Corporation (Nasdaq: OLED) is a leader in the research, development and commercialization of organic light emitting diode (OLED) technologies and materials for use in display, solid-state lighting applications with subsidiaries and offices around the world. Founded in 1994, the Company currently owns, exclusively licenses or has the sole right to sublicense more than 5,000 patents issued and pending worldwide. Universal Display licenses its proprietary technologies, including its breakthrough high-efficiency UniversalPHOLED® phosphorescent OLED technology that can enable the development of energy-efficient and eco-friendly displays and solid-state lighting. The Company also develops and offers high-quality, state-of-the-art UniversalPHOLED materials that are recognized as key ingredients in the fabrication of OLEDs with peak performance. In addition, Universal Display delivers innovative and customized solutions to its clients and partners through technology transfer, collaborative technology development and on-site training. To learn more about Universal Display Corporation, please visit https://oled.com/. Universal Display Corporation and the Universal Display Corporation logo are trademarks or registered trademarks of Universal Display Corporation. All other company, brand or product names may be trademarks or registered trademarks.

Read More

CHEMICAL MANAGEMENT

International Petroleum Corporation Announces Results of Share Repurchase Program

nternational Petroleum Corporation | December 20, 2021

International Petroleum Corporation is pleased to announce that IPC repurchased a total of 625,383 IPC common shares during the period of December 10 to 17, 2021 under the previously announced share repurchase program. The share repurchase program, announced by IPC on December 1, 2021, is being implemented in accordance with the Market Abuse Regulation No 596/2014 and Commission Delegated Regulation No 2016/1052 and the applicable rules and policies of the Toronto Stock Exchange and Nasdaq Stockholm and applicable Canadian and Swedish securities laws. During the period of December 10 to 17, 2021, IPC repurchased a total of 557,651 IPC common shares on Nasdaq Stockholm. All of these share repurchases were carried out by Pareto Securities AB on behalf of IPC. For more information regarding transactions under the share repurchase program in Sweden, including aggregated volume, weighted average price per share and total transaction value for each trading day during the period of December 10 to 17, 2021. During the same period, IPC purchased a total of 67,732 IPC common shares on the TSX and/or alternative Canadian trading systems. All of these share repurchases were carried out by ATB Capital Markets Inc. on behalf of IPC. As previously announced, all common shares repurchased by IPC under the share repurchase program will be cancelled. Following cancellation of the above repurchased shares, the total number of issued and outstanding IPC common shares will be 154,489,164 and IPC will not hold any common shares in treasury. The total number of issued and outstanding shares is 155,367,757 and IPC currently holds 878,593 common shares in treasury. A full breakdown of the transactions conducted during the period of December 10 to 17, 2021 according to article 5.3 of MAR and article 2.3 of the Safe Harbour Regulation on Nasdaq Stockholm is attached to this press release. Since December 3, 2021 up to and including December 17, 2021, a total of 878,593 IPC common shares have been repurchased under the share repurchase program through the facilities of the TSX, Nasdaq Stockholm and/or alternative Canadian trading systems. A maximum of 11,097,074 IPC common shares may be repurchased over the period of twelve months commencing December 3, 2021 and ending December 2, 2022, or until such earlier date as the share repurchase program is completed or terminated by IPC. International Petroleum Corp. is an international oil and gas exploration and production company with a high quality portfolio of assets located in Canada, Malaysia and France, providing a solid foundation for organic and inorganic growth. IPC is a member of the Lundin Group of Companies. IPC is incorporated in Canada and IPC’s shares are listed on the Toronto Stock Exchange and the Nasdaq Stockholm exchange under the symbol "IPCO".

Read More

Spotlight

High-value chemicals and materials; traditional products such as pulp and paper or construction materials; and energy products such as heat, power and transportation fuels. This resurgent industry will continue to provide jobs to the population in rural and small communities across the country, while helping Canada move to a clean energy supply and reduce its carbon footprint.

Resources