CHEMICAL MANAGEMENT

Fulcrum BioEnergy Completes $20 Million Investment With SK Innovation

Fulcrum BioEnergy, Inc. | July 13, 2022 | Read time : 2 min

Fulcrum BioEnergy
Fulcrum BioEnergy Inc., a clean energy company pioneering the creation of renewable, drop-in transportation fuels from landfill waste, today announced that it has completed a $20 million equity investment in Fulcrum by SK Innovation, the energy arm of South Korea's SK Group. In addition, Fulcrum and SK Innovation will work together to enter into an exclusive licensing agreement providing the opportunity to explore the possibilities of bringing Fulcrum's patented and proprietary waste-to-fuel process to South Korea and select countries in Asia.

SK Innovation, which contributes to South Korea's energy security and economic development, operates South Korea's largest refinery as well as petrochemical, e-mobility battery and information electronic materials businesses. This is the second investment that SK Group has made in Fulcrum, following its participation in a $50 million equity round in December 2021 by SK Inc.

"This investment signals another strong vote of confidence in Fulcrum's proprietary waste to fuels process following the recent operational achievement of producing syngas from landfill waste at our Sierra BioFuels Plant. The team at SK Innovation have been at the forefront of shepherding South Korea into a green energy future. We look forward to our continued partnership as we explore the many possibilities ahead of us in Asia."

Eric Pryor, Fulcrum's President and Chief Executive Officer

This expanded partnership and investment comes on the heels of the company completing the commissioning and initial operations of its inaugural biorefinery, the Sierra BioFuels Plant located east of Reno, Nevada. In May, the company demonstrated its ability to transform landfill waste feedstock into a syngas, laying the groundwork for Fulcrum to move on to the final step in its waste to fuels process, converting the syngas into liquid fuel.

Beyond Sierra, Fulcrum has also announced plans for additional plants as it seeks to scale up its production and address critical and urgent environmental issues – the reduction of carbon emissions from the aviation industry, of garbage sent to landfills and of the nation's dependence on foreign oil.

About Fulcrum
Based in Pleasanton, California, Fulcrum is leading the development of a reliable and efficient process for transforming waste into net-zero carbon transportation fuels, including sustainable aviation fuel and diesel. The Company's innovative process, which utilizes landfill waste as a feedstock, will reduce greenhouse gas emissions by approximately 100% compared to traditional fuel production, contributing to the aviation and transportation sectors' carbon reduction goals.

Beginning with the Sierra BioFuels Plant, Fulcrum's plants will provide customers with low-carbon drop-in fuel that is competitively priced with traditional petroleum fuel. The Company is advancing on its large commercial growth program of net-zero carbon waste-to-fuels plants across North America with a planned production capacity of approximately 400 million gallons per year. Fulcrum, a privately held company, has aligned itself and entered into strategic relationships with industry leaders in the waste, aviation and energy sectors to further strengthen and accelerate the Company's patented and proprietary approach to commercially producing large volumes of renewable fuel from landfill waste.

Spotlight

A former Ethylene supplier to a petrochemical plant caused interruptions in their supply by shutting off the supply below a certain dP. The petrochemical plant chose a new supplier that installed an Emerson Coriolis meter which offered a full range of flow rates resulting in ceasing the supply interruptions and improving the uncertainty from 0.75% to 0.35%. In addition, the company did not want to have to pull the meter for proving during operations, so Smart Meter Verification was utilized to extend the calibration interval to coincide with plant turnarounds and to continuously monitor meter health. The meter was pulled for calibration after two years of service and found to have -0.06% difference from a lab prover. The solution eliminated replacement during operation, reduced proving costs, improved safety and reduced risk of lost production.


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CHEMICAL MANAGEMENT

FMC Corporation significantly expands biologicals platform with agreement to acquire BioPhero

FMC Corporation | June 30, 2022

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CHEMICAL TECHNOLOGY,CHEMICAL MANAGEMENT

Redwood Logistics Partners with Cloverly to Enhance Carbon Emissions Management for Customers

Redwood Logistics | July 08, 2022

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CHEMICAL TECHNOLOGY

AMG Lithium Signs Binding Multiyear Agreement to Supply Battery-grade Lithium Hydroxide with EcoPro

AMG Advanced Metallurgical Group N.V. | September 06, 2022

AMG Advanced Metallurgical Group N.V. announces its wholly owned subsidiary, AMG Lithium GmbH of Frankfurt has signed a binding supply agreement with Korean company EcoPro for an initial three-year term. AMG Lithium will supply EcoPro with battery-grade lithium hydroxide from its plant in Bitterfeld-Wolfen, Germany, which is recently under construction and scheduled to start commissioning in Q3 2023. Under the Agreement, AMG Lithium will deliver a minimum of 5,000 tonnes per annum of battery-grade lithium hydroxide to EcoPro BM’s cathode materials production plant in Debrecen, Hungary. The contract includes an option for additional volumes. Initial quantities for qualification purposes are scheduled to be delivered in late 2023 – with regular quantities to follow in 2024. AMG Lithium plans to produce an annual amount of 20,000 tpa of battery-grade lithium hydroxide in the first module in Bitterfeld-Wolfen with four additional modules planned to achieve a total annual production capacity of 100,000 tpa. “We are happy to have reached this Agreement to supply EcoPro’s European cathode materials plant out of our Bitterfeld refinery. We are looking forward to growing our future business with EcoPro with additional quantities and potentially dedicating an entire module on an exclusive basis,” Stefan Scherer, CEO of AMG Lithium About AMG AMG is a global critical materials company at the forefront of CO2 reduction trends. AMG produces highly engineered specialty metals and mineral products and provides related vacuum furnace systems and services to the transportation, infrastructure, energy, and specialty metals & chemicals end markets. AMG Clean Energy Materials segment combines AMG’s recycling and mining operations, producing materials for infrastructure and energy storage solutions while reducing the CO2 footprint of both suppliers and customers. AMG Clean Energy Materials segment spans the vanadium, lithium, and tantalum value chains. AMG Critical Materials Technologies segment combines AMG’s leading vacuum furnace technology line with high-purity materials serving global leaders in the aerospace sector. AMG Critical Minerals segment consists of AMG’s mineral processing operations in antimony, graphite, and silicon metal.

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CHEMICAL TECHNOLOGY

Ricardo Innovative Climate-Repairing Carbon Negative Technology to Support National Energy Security

Ricardo | July 12, 2022

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Spotlight

A former Ethylene supplier to a petrochemical plant caused interruptions in their supply by shutting off the supply below a certain dP. The petrochemical plant chose a new supplier that installed an Emerson Coriolis meter which offered a full range of flow rates resulting in ceasing the supply interruptions and improving the uncertainty from 0.75% to 0.35%. In addition, the company did not want to have to pull the meter for proving during operations, so Smart Meter Verification was utilized to extend the calibration interval to coincide with plant turnarounds and to continuously monitor meter health. The meter was pulled for calibration after two years of service and found to have -0.06% difference from a lab prover. The solution eliminated replacement during operation, reduced proving costs, improved safety and reduced risk of lost production.

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