CHEMICAL MANAGEMENT,SCIENCE AND RESEARCH
Imperial | June 24, 2022
Imperial Oil Limitedand E3 Lithium announced a collaboration to advance a lithium-extraction pilot in Alberta, exploring the redevelopment of an historic oil field into a potential new leading source of lithium for Canada’s growing critical minerals industry.
The pilot will support E3 Lithium’s Clearwater project, which will draw lithium from under the Leduc oil field, Imperial’s historic discovery that first launched major oil and gas development in Western Canada. E3 Lithium’s proprietary technology is designed to extract the critical mineral from the lithium-rich brine, with potential for commercial development of battery-grade products.
“This exciting collaboration brings together Imperial’s long-standing commitment to research and technology to help test and scale E3’s lithium-recovery technology. We continue to advance the innovation and technologies needed to support the energy transition, working in collaboration with governments and industry to progress new opportunities from existing assets and sector expertise.”
Jason Iwanika, director of commercial business development at Imperial
“E3 Lithium and Imperial share an interest in the diversification of the Alberta economy, local job creation and sustainability,” said Chris Doornbos, CEO of E3 Lithium. “Leduc No.1, Imperial’s first well into this reservoir, was one of Imperial’s most prolific oil discoveries in Alberta and transformed the provincial and Canadian economies, much like lithium has the potential to do. Having Imperial now working with E3 Lithium in exploring the redevelopment of Leduc into a world-class source of lithium is an exciting new chapter in Alberta and Canada’s story.”
The pilot project includes drilling Alberta’s first lithium evaluation wells, planned to be completed by the end of the third quarter of this year. Work will also focus on scaling up E3 Lithium’s proprietary technology, which brings the brine liquid to the surface where the lithium is removed and concentrated. This liquid is immediately returned underground as part of a closed-loop system. E3 Lithium’s PEA1 estimates the first phase of development could produce approximately 20,000 tonnes of lithium hydroxide per year.
Under the agreement, E3 Lithium will continue to operate the Clearwater project and retain its IP, with technical and development support from Imperial in areas such as water and reservoir management. The agreement also includes access for E3 Lithium to freehold lands in the area, which are operated by Imperial.
As part of the agreement, Imperial has agreed to invest CAD $6.35 million into E3 at a pre-paid price of CAD $1.86/warrant and the issuance of 3,413,979 warrants. Each warrant provides the holder the option to exercise the warrant for one common share of E3. The warrants are immediately exercisable, non-transferrable, expire in 24 months and are non-refundable.
About E3 Lithium
E3 Lithium is a lithium development company with 7.0 million tonnes of lithium carbonate equivalent (LCE) inferred mineral resources1 in Alberta and an NPV8% on its Clearwater Lithium Project of USD 1.1 Billion with a 32% IRR pre-tax and USD 820 Million with a 27% IRR after-tax1. Through the successful scale up its DLE technology towards commercialization, E3 Lithium’s goal is to produce high purity, battery grade, lithium products. With a significant lithium resource and innovative technology solutions, E3 Lithium has the potential to deliver lithium to market from one of the best jurisdictions in the world.
After more than a century, Imperial continues to be an industry leader in applying technology and innovation to responsibly develop Canada’s energy resources. As Canada’s largest petroleum refiner, a major producer of crude oil, a key petrochemical producer and a leading fuels marketer from coast to coast, our company remains committed to high standards across all areas of our business.
CHEMICAL MANAGEMENT,SCIENCE AND RESEARCH
MSA Safety | June 21, 2022
MSA Safety Incorporated a global leader in firefighter safety equipment and technology, marked the opening of Interschutz 2022 with the unveiling of a new line of firefighter protective clothing (FPC) that is specifically designed to meet the needs of firefighters in Germany, the Netherlands and across continental Europe, offering enhanced comfort and compatibility with MSA's advanced safety equipment and solutions.
Called the MSA® Bristol X4, the new line of FPC integrates MSA Bristol's expertise in creating high-performance protective clothing with MSA's market-leading experience in firefighting technologies and connected solutions. The result is a range of new FPC options that provide enhanced comfort, ergonomics and full compatibility with MSA's suite of state-of-the art firefighter equipment, from helmets and self-contained breathing apparatus (SCBA), to the very latest in monitoring accountability and communication devices.
"The development of the MSA® Bristol X4 line represents a great new addition to the MSA portfolio of innovative safety solutions for firefighters. We're excited to be back at Interschutz because we will be able to demonstrate how the new X4 line of FPC integrates with other MSA products to provide additional capabilities for use in extreme environments."
Bob Leenen, President of MSA's International Business Segment
Working seamlessly with the company's iconic Gallet F1XF structural helmet and the industry-leading M1 SCBA, both of which are widely used among fire services across continental Europe, the MSA Bristol X4 has been created with input from hundreds of firefighters in Germany and the Netherlands to deliver a solution designed for these specific markets. As an example, the German fire service market requires an Integrated Harness System and Drag Rescue Device. To meet this need, the X4's Integrated Harness System offers added safety when working at heights. The X4 jacket features an integral belt, lanyard and carabiner that can be easily accessed via a pocket and flap. The Drag Rescue Device, accessed from the upper back of the jacket and via a pocket near the knee, can be used to carry or pull a downed firefighter to safety in an emergency.
In the Netherlands, firefighters expressed the need for stronger kneepads for comfort when crawling or operating in confined spaces, and special reflective elements for additional visibility. To address this customer preference, MSA Bristol designers incorporated ergonomic shaping and a streamlined fit, reducing bulk and weight, all while maintaining full range of motion.
Jason Traynor, General Manager of MSA's Global Fire Service Products, noted that with the launch of the new X4 line, MSA is now able to provide a full line of fire service products to firefighters Germany, the Netherlands and throughout continental Europe. "We will continue to listen to the needs of our customers and develop the innovative products and solutions they want – and need, he said."
The X4 line is manufactured with the latest high quality fabric combinations from leading fiber and fabric manufacturers, including WL Gore, PBI Performance Products and Hainsworth. The line has been designed to meet the requirements of CEN standard EN469 Level 2, is available in a wide range of color combinations to suit regional preferences, and can be customized with a selection of optional pockets and loops to accommodate specific equipment.
As a global leader in innovative firefighter safety equipment and technology, MSA Safety will also showcase its Connected Firefighter Platform – a suite of advanced safety technologies that work in concert to significantly improve firefighter monitoring, accountability and communication. Two key components of the Connected Firefighter Platform are the LUNAR® Connected Device and MSA's FireGrid® software services.
A multifunctional handheld device, LUNAR provides personal thermal imaging and several other innovative features that are designed to enhance firefighter safety and accountability. These innovations include MSA's proprietary Firefighting Assisting Search Technology (F.A.S.T.) network, which alerts and guides teammates to downed team members. In addition, cloud connectivity provides incident command with an overview of on-scene operations by aggregating data from other MSA devices, such as the M1 breathing apparatus. In use, it can transmit key self-contained breathing apparatus (SCBA) information such as cylinder air pressure, battery status and various alarm indicators. FireGrid gives incident commanders the ability to evaluate and manage multiple situations in real time and from any location.
Hahn &amp; Co. | June 09, 2022
South Korean private equity firm Hahn & Co. has announced that it has signed definitive agreements to acquire 100% of the polyester film business from South Korea's SK Group for KRW1.6 trillion. SK's PET film business is the largest in Korea and the fourth largest globally, with revenues of KRW1.13 trillion in 2021. The transaction represents one of the largest acquisitions in Korea and Asia to date this year.
This transaction furthers Hahn & Co.'s focus on private equity acquisitions in Korea and builds upon its track record of successfully acquiring and revamping Korean companies, building globally leading companies in industrial products, transportation, and business services. The acquisition represents Hahn & Co.'s fourth acquisition in Korea since the outbreak of the COVID-19 pandemic while M&A activity in Korea has slowed, notably the in-flight catering and duty-free retail businesses of Korean Air as well as the biofuel business of SK Chemicals.
"SK's PET business is a global leader with attractive opportunities for growth and expansion in untapped markets. This acquisition continues Hahn & Co.'s conviction in Korea as an attractive while overlooked market for acquisitions,"
Scott Sang-Won Hahn, CEO of Hahn & Co.
About Hahn & Co.
Established in 2010, Hahn & Co. is one of the largest private equity firms operating in Korea. The firm currently manages the largest private equity capital raised to date for the Korea market. Companies controlled by Hahn & Co. generate revenues of approximately KRW16 trillion (US$12.8 billion), assets of KRW39.6 trillion with over 30,000 employees.
Charter Next Generation, Inc. | May 30, 2022
2.7 million metric tons of plastic waste are generated in the Philippines each year with about 20 percent ending up in the ocean. An estimated 163 million pieces of single-use plastics known as multilayer sachets are consumed daily in the Philippines.
Thanks to the generous new investment provided by Charter Next Generation, PLAF will continue to take on the challenge of collecting and recycling 100 tons per year of ocean-bound plastic waste over the next three years in the Philippines, resulting in the removal of over 300 tons of waste. This plastic waste consists of mostly flexible plastics and single-use multilayered plastic packaging which are considered the most difficult to recycle and have little to no value.
Over the course of the three-year project, PLAF will gather sachets and other plastic waste from their various collection points throughout Metro Manila, focusing heavily on residential communities. The waste collected by PLAF will be recycled into eco-boards which can then be used for home and office construction, as well as furniture manufacturing. As a result of CNG's sponsorship, seven new factory jobs will be created for the duration of the 3-year project, as well as the construction of a new recycled material sorting area, that will include a sorting shed and various sorting lines that will serve as an upgrade to PLAF's current working conditions for local factory employees.
Tackling marine plastic pollution is a global responsibility, that must be addressed at the source. With over 17 billion plastics being thrown away in the ocean every year, the Philippines represents the 3rd largest plastic waste-producing country in the world, after China and Indonesia.
"As a global leader in sustainability, CNG takes our commitment to reducing plastic waste around the world very seriously. We are dedicated to supporting the efforts of organizations both in the U.S. and abroad to make a positive impact on the environment around the world. We continue to invest in numerous organizations dedicated to cleaning our waterways, and we are pleased to join and support PLAF's efforts in cleaning the waters around the Philippines".
Scott Hammer, CNG's Director of Corporate Sustainability
About Charter Next Generation
Charter Next Generation is one of North America's leading independent producers of high-performance specialty film, flexible packaging solutions, and other end-use products that impact our local communities and beyond. We are committed to a sustainability-first approach that protects families, strengthens the global community, and facilitates a greener future for generations to come.
Driven by a relentlessly green mindset, each of our thirteen facilities plays a vital role in the growth and innovation that has characterized our company since its beginnings. We pride ourselves on manufacturing the ultimate packaging protection — providing a sustainable solution without any sacrifice in performance.
Our custom-engineered solutions keep food fresher for longer periods of time, better protect products from spoilage, and use cleaner manufacturing processes and recycled source materials to maintain the lowest carbon footprint of any major packaging supplier. Our unparalleled devotion to the environment also ensures our films allow for recyclability, compostability, and the use of post-consumer resin.
As the leading producer of sustainable specialty film and flexible packaging solutions, we are dedicated to continuously working towards a more innovative and cleaner tomorrow, and actively facilitating a low-waste circular economy.
About the Plastic Flamingo
The Plastic Flamingo is a social enterprise that aims to tackle marine plastic pollution in the Philippines. With over 200 collection point partners, 16 public drop-off points for plastic waste, countless webinars that raise awareness and promote recycling efforts, and the successful production of eco-lumber, eco-boards, and pellets - The PLAF maximizes its social impact in a concerted effort to become a part of the solution and not the pollution. The PLAF is actively involved in each step of the recycling process, from collecting, sorting, and shredding to recycling and turning waste into new, durable products. Apart from this, The PLAF ensures that while addressing the plastic crisis, they are also addressing other key sustainable development goals – like giving opportunities and empowerment to women in the workplace, providing jobs to low-income families, and promoting equal pay. These principles have become deeply rooted in PLAF's organizational values.