PRODUCTS AND TECHNOLOGIES

Carbios Launches Industrial Demonstration Plant for Its Unique Enzymatic Recycling Technology

Carbios | September 29, 2021

Carbios, a company pioneering new enzymatic solutions to reinvent the lifecycle of plastic and textile polymers, announced the official opening and launch of an industrial demonstration plant operating with its enzymatic recycling technology, C-ZYME, which was installed on the Cataroux site in Clermont-Ferrand.

“For more than 10 years, we have been creating innovative solutions to rethink the end of life of plastics and textiles,This industrial demonstration plant fulfils the promises of our enzymatic recycling process, C-ZYME. The continuous cycle of recycling PET waste is one step closer to becoming a reality!"

-Jean-Claude Lumaret, Carbios' Chief Executive Officer

The demonstration plant marks the culmination of the development of the C-ZYME technology. It will allow the validation of the enzymatic PET recycling process' technical, environmental, and economic performance, as well as the design of future industrial units. By the end of 2022, its operation will enable the complete engineering documents for the process (Process Design Package) to be drawn up for the building and operation of a 40,000-tonne/year capacity reference unit as well as future factories to be run under licensing agreements.

"The demonstration plant includes a 20m3 depolymerization reactor capable of processing 2 tonnes of PET per cycle, which is the equivalent of 100,000 bottles. This is a watershed moment, highlighting how this revolutionary process works on a large scale," added Mr. Lumaret.

The optimization of the operating parameters as well as the production of the monomer batches are now carried out by a team of 10 people. An initial hydrolysis has been successfully realized, confirming the upscaling of the process.

The C-ZYME recycling process uses an enzyme capable of depolymerizing PET (polyethylene terephthalate), which is found in a variety of plastic and textile items. The depolymerized monomers are purified before being repolymerized into PET of comparable quality to virgin PET derived from petrochemicals. Unlike traditional methods, Carbios' breakthrough enables unlimited recycling of all sorts of PET waste (clear, colored, opaque, complex plastics, polyester textiles) as well as the production of 100% recycled and 100% recyclable PET goods that maintain their virgin quality throughout the process.

About Carbios:
Carbios, a green chemistry company, develops biological and innovative processes representing a major innovation in the end of life of plastics and textiles. Through its unique approach of combining enzymes and plastics, Carbios aims to address new consumer expectations and the challenges of a broader ecological transition by taking up a major challenge of our time: plastic and textile pollution.

Established in 2011 by Truffle Capital, the mission of Carbios is to provide an industrial solution to the recycling of PET plastics and textiles (the dominant polymer in bottles, trays, textiles made of polyester). The enzymatic recycling technology developed by Carbios deconstructs any type of PET plastic waste into its basic components which can then be reused to produce new PET plastics of a quality equivalent to virgin ones. This PET innovation, the first of its kind in the world, was recently recognized in a scientific paper published in the prestigious journal Nature. Additionally, Carbios is working hand in hand with multinational brands — like L’Oréal, Nestlé Waters, PepsiCo and Suntory Beverage & Food Europe — to implement its technology, and to lead the transition toward a truly circular economy.

The Company has also developed an enzymatic biodegradation technology for PLA (a bio sourced polymer) based single use plastics. This technology can create a new generation of plastics that are 100% compostable in domestic conditions, integrating enzymes at the heart of the plastic product. This disruptive innovation has been licensed to Carbiolice, a joint venture created in 2016, which is now Carbios’ subsidiary.



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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".

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CHEMICAL MANAGEMENT

Rosewood Private Investments Announces the Acquisitions of American Petroleum and Petroleum Equipment Company

Rosewood Private Investments | January 19, 2022

Rosewood Private Investments is pleased to announce the acquisitions of American Petroleum Sales and Service and Petroleum Equipment Company, Inc. which will be held under the new holding company, StationServ. AMPET, headquartered in Southaven, Mississippi, is a petroleum equipment distributor with full-service installation, distribution, and servicing capabilities. Founded by Gary Murphy in 1990, the company operates out of four branch locations in Mississippi, Arkansas, and Tennessee. Originally founded in 1944, PECO is a leading petroleum equipment distributor and service company based in Richland, Mississippi, with customers in multiple states in the Southeast. Forrest Rhemann is a third-generation owner and has served as the company’s CEO for nearly 40 years. “By combining the businesses, we are able to extend the service offerings to both existing and new customer relationships. Additionally, we look forward to adding additional companies under the StationServ umbrella. Gary and Forrest have worked to build diverse companies with strong teams and loyal customers, and we are excited to see the combined companies grow together.” G.T. Barden, Managing Director of RPI AMPET and PECO are both distributors for the largest fuel dispenser OEM, Gilbarco. Their territories are geographically contiguous and will combine to allow the company to better service its customers. Infinity Capital Partners served as exclusive investment banking advisor to Rosewood. About Rosewood Private Investments Rosewood has a long history of investing in and creating value within numerous industries. RPI’s approach to working with operating partners to strategically grow companies through acquisitions and organic means has proven successful for all stakeholders. Our current holdings are focused on industrial services, fire & life safety services, IT services, and manufacturing technologies. In addition to these areas, we are pursuing new platforms in specialty chemicals, transportation & logistics, and outsourced business services, among others. We welcome any information about investment opportunities within these verticals.

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CHEMICAL MANAGEMENT

KIRCO Announces Completion of Wacker Chemical Corporation NCA Innovation Center and Regional Headquarters in Ann Arbor

KIRCO | May 17, 2022

KIRCO announced the development and construction completion of Wacker Chemical Corporation's new Innovation Center and Regional Headquarters in Ann Arbor. WACKER – a pioneer and global leader in chemical R&D and manufacturing – held a ribbon-cutting ceremony and grand opening last week, which was attended by Michigan Governor Gretchen Whitmer, along with several other state, county and township officials. Covering 18 acres at 4950 S. State Rd., the technology campus serves as the hub of leadership and innovation for WACKER's North and Central Americas (NCA) region. The center currently houses more than 200 team members, including the company's NCA senior leadership team, the region's leading chemists, IT and other technical experts, along with support functions. WACKER partnered with KIRCO as their developer and contractor, leading the journey through site selection, design, capitalization and construction. The 140,000 square-foot campus broke ground in late 2020, and despite commencing amid the COVID-19 pandemic, WACKER team members moved in 19 months later. The more than $50 million investment allows WACKER chemists, scientists and senior leadership, who previously worked out of separate Michigan locations, to collaborate and innovate in a single, dynamic environment. Equally important, the facility provides room for the growth expected by the global leader in silicones, polymers, polysilicon and biosolutions. The innovation center includes world-class labs, a full-service cafeteria, a 24/7 fitness center and open collaborative workspaces. "The campus is truly inspiring, and we are honored to have partnered with WACKER in creating a built environment as dynamic as their culture. WACKER has made an extraordinary investment in its people, marking a huge win for Pittsfield Township/Ann Arbor and the State of Michigan," said Quinn Kiriluk, executive vice president, Corporate Real Estate and chief marketing officer for KIRCO. "Amid the challenges of the pandemic, our teams lead by Matt Milliken (KIRCO MANIX) and Greg Brabec, worked seamlessly to advance design development, obtain site plan approvals and commence work. In the end, we completed construction of this state-of-the-art facility effectively on schedule and within budget, a testament to the team's hard work and dedication." "KIRCO MANIX proved throughout the process to be a trusted and reliable partner. Even in the face of numerous challenges, including the pandemic and supply chain disruptions, we are able today to celebrate the journey and proudly open our building with excitement and positivity reflected in the faces of our employees, visitors and honored guests." Greg Brabec, director of Government Affairs and Special Projects for WACKER and project lead of the Innovation Center According to Kiriluk, KIRCO has gained national recognition for developing and building corporate headquarters, laboratories and R&D, and advanced manufacturing facilities, and brings a unique solution to its corporate real estate clients. With in-house development, construction and facility management services, their vertically integrated approach and relentless attention to detail offers clients a single point of accountability and a truly enjoyable journey. About KIRCO Founded in 1974, KIRCO is a commercial real estate development and investment firm, whose comprehensive offerings as a national developer, builder, and facilities manager, builds excitement and pride with every customer and community with whom it works. KIRCO has concentrated focuses in client-driven corporate facilities, senior living and healthcare. KIRCO is third-generation family owned and operated, spanning 17 states.

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CHEMICAL MANAGEMENT

ExxonMobil Details Plans to Lead in Earnings and Cash Flow Growth, Energy Transition

ExxonMobil | March 03, 2022

ExxonMobil today detailed plans at its annual Investor Day to deliver industry-leading earnings, cash flow growth and shareholder returns, and lead in the energy transition across a range of lower-emissions scenarios. “We are focused on leading the industry in safety, reliability, environmental performance, earnings and cash flow growth – and ultimately shareholder returns. We’ll continue to innovate and provide solutions that meet the growing needs of society, including its net-zero emissions ambitions, by fully leveraging our competitive advantages of scale, integration, technology, functional excellence, and our highly skilled people.” Darren Woods, chairman and chief executive officer Company plans include annual structural reductions of $9 billion a year by 2023 compared to 2019, building on $5 billion annual structural reductions achieved to date. These savings and other improvements, including a streamlined organizational structure, will enable ExxonMobil to double earnings and cash flow potential by 2027 versus 2019, reduce breakeven costs by roughly $10 per barrel, boost returns on capital employed, and sustainably grow total shareholder returns and distributions. Full-year 2021 results of $23 billion in earnings and $48 billion in cash flow from operating activities were the highest among competition and demonstrate how structural improvements, combined with focused investments during the down cycle, positioned the company to realize the full benefit of the economic recovery. The 2021 results enabled repayment of about $20 billion in debt -- nearly all of the debt borrowed during the pandemic downturn, the 39th consecutive year of dividend increases, and a $10 billion share-repurchase program that started earlier this year. 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Spending plans also include more than $15 billion over the next six years to reduce greenhouse gas emissions in company operations and for investments in lower-emission business opportunities to help customers reduce emissions and generate attractive returns for shareholders. “Investment in emission-reduction opportunities will accelerate with advances in technology, market incentives and supportive policy,” said Woods. “We’ve built a portfolio with flexibility to adjust investments between our traditional oil, gas and products business and new lower-emissions opportunities, consistent with the pace and scale of the energy transition, creating long-term value across a broad range of scenarios.” ExxonMobil established its Low Carbon Solutions business in early 2021 to commercialize its extensive experience in carbon capture and storage, hydrogen and biofuels. Since that time, the company has announced progress on multiple carbon capture and storage opportunities around the world. It also is planning strategic investments in hydrogen, including at its integrated refining and chemical complex in Baytown, Texas, and in lower-emission biofuels at the Strathcona refinery near Edmonton, Canada. ExxonMobil has stated its ambition to achieve Scope 1 and Scope 2 net zero greenhouse gas emissions for operated assets by 2050, backed by a comprehensive approach to develop detailed emission-reduction roadmaps for major facilities and assets. The company’s 2030 emission-reduction plans include net-zero emissions for Permian Basin operations by 2030 and a 20-30% reduction in company-wide Scope 1 and Scope 2 greenhouse gas emissions intensity, compared to 2016. The plans are anticipated to achieve a 40-50% reduction in upstream greenhouse gas intensity, supported by a corporate-wide 70-80% reduction in methane intensity and a 60-70% reduction in flaring intensity. In total, the plans are expected to reduce company-wide absolute greenhouse gas emissions by an estimated 20% and the company’s upstream emissions by 30%. Absolute flaring and methane emissions are expected to decrease by 60% and 70%, respectively. These plans are expected to achieve the goals of the World Bank Zero Routine Flaring by 2030 initiative. About ExxonMobil ExxonMobil, one of the largest publicly traded international energy companies, uses technology and innovation to help meet the world’s growing energy needs. ExxonMobil holds an industry-leading inventory of resources, is one of the largest refiners and marketers of petroleum products, and its chemical company is one of the largest in the world.

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