Hexagon Agility | August 02, 2022
On 21 April 2022 Hexagon Composites and Hexagon Purus announced that it signed an agreement to acquire a 40% stake in Cryoshelter GmbH, an Austria based company specialized in the development of cryogenic tank technology for liquid natural gas and liquid hydrogen.
Hexagon is pleased to announce that the transaction has been successfully completed, and Hexagon Composites now owns 40% of Cryoshelter's LNG/RLNG business, with options to buy remaining interests over the next 3-10 years.
Hexagon Purus has also completed the acquisition of its previously announced 40% stake in Cryoshelter’s LH2 business.
The Hexagon Group today provides compressed natural gas including renewable natural gas (RNG), compressed hydrogen and battery-electric systems as part of its portfolio of clean fuel vehicle solutions. Liquid storage of (renewable) natural gas and hydrogen will add a new dimension to its existing offering, complementing its portfolio and unlocking new opportunities for Hexagon Agility and Hexagon Purus, respectively.
Commercializing and Industrializing Cryoshelter Tanks
The Hexagon and Cryoshelter partnership will accelerate Cryoshelter’s existing LNG/RLNG technology and production capability and use the LNG technology platform to further develop LH2 solutions for the heavy-duty transportation sector.
“Cryoshelter’s disruptive technology will further strengthen our efforts to drive decarbonization of heavy-duty vehicles, with a special emphasis on the European market where clean, energy efficient cryogenic LNG/RLNG fuels are needed due to limited space on trucks,” says Seung Baik, President Hexagon Agility. “We are excited to be working together with Cryoshelter to further develop the technology and scale up the business over the coming years.”
“The investment into Cryoshelter’s early phase LH2 tank technology brings expertise in LH2 tank technology for zero emission mobility applications and could potentially result in a future complementary offering to Hexagon Purus’ leading compressed hydrogen cylinder technology,”
Morten Holum, CEO Hexagon Purus
“We are excited to team up with Hexagon as they bring industrial expertise, a global presence and customer potential to escalate the scale up of our operations,” says Dr. Matthias Rebernik, CEO and Founder of Cryoshelter. “Hexagon’s investment into our company is proof of confidence in our state-of-the-art technology.”
Cryoshelter is split into separate legal entities for the LNG/RLNG and LH2 businesses. Hexagon Agility and Hexagon Purus will take two seats each on the respective boards of Cryoshelter’s two businesses.
Expanding clean fuel options for commercial trucks
In contrast with North America, where compressed natural gas is the primary natural gas technology for long-haul trucking, LNG/RLNG has emerged as the leading natural gas alternative in Europe due to a significant infrastructure network, favorable cost position and preferred truck configuration.
Over the last several years, the number of new LNG truck registrations and fueling stations have increased significantly, and higher growth is expected over the next decade as fleet operators are opting for readily available, cost competitive fuels with immediate emission saving potential such as biomethane (or RNG). In liquid form, natural gas has a higher energy density. Cryoshelter’s technology will leverage this energy density to better utilize vehicle frame rail space and provide a driving range that is comparable to diesel.
Supported by European legislation, it is expected that renewable natural gas, alongside battery-electric and fuel cell-electric technologies will play a key role in the efforts to decarbonize the commercial transportation sector in Europe.
Liquid hydrogen, a compelling future alternative
Hydrogen is gathering strong momentum as a key energy transition pillar towards zero emission, and is underpinned by a global shift of regulators, investors, and consumers increasingly focused on decarbonization. It has become clear that hydrogen will play a key role in decarbonizing “hard to abate” sectors.
Liquid hydrogen storage technology can offer higher energy density compared to compressed hydrogen storage, and in space and/or payload-constrained applications, such as certain heavy-duty trucking applications, shipping, commercial aviation, and aerospace, it could be a compelling future alternative.
Owens Corning | June 22, 2022
Owens Corning announced that it has signed an agreement to acquire Natural Polymers, LLC, an innovative manufacturer of spray polyurethane foam insulation for building and construction applications, based in Cortland, Illinois. The transaction is subject to regulatory approvals and other customary conditions and is anticipated to close in the third quarter.
“This acquisition advances Owens Corning’s strategy to strengthen our core building and construction products and expand our addressable markets into higher-growth segments. Natural Polymers’ proven technology enables us to offer our customers a more diversified insulation product portfolio and solidify our commitment to provide long-term, sustainable solutions.”
Todd Fister, president of Owens Corning’s Insulation business
Natural Polymers is dedicated to the development of high-quality products and systems, offering some of the lowest-volatile organic compound products available in the spray foam industry today. Many of the business’ products are GREENGUARD Gold Certified by Underwriter’s Laboratories – a third party standard set to help reduce indoor air pollution and the risk of chemical exposure.
“Over the last several years, we’ve seen many advancements in the overall spray foam industry, from standardized installer training to product enhancements that make the material a much more attractive solution,” said Mr. Fister. “Natural Polymers’ focus on product development provides Owens Corning with a foundation upon which we can use our material science knowledge to drive innovation and differentiate the business.”
Natural Polymers expects to deliver sales of approximately $100 million in 2022. The business has demonstrated a strong track record of above-market growth and is expected to continue to achieve double-digit growth over the next several years.
Benjamin Brown, President and Chief Executive Officer of Natural Polymers, stated, “I am excited by this transaction and believe Owens Corning is best suited to accelerate the business’ growth, benefiting our customers and supporting our vision to build the best spray polyurethane foam brand in the industry. Together, I believe we have the best people, technology, and capabilities.”
About Owens Corning
Owens Corning is a global building and construction materials leader committed to building a sustainable future through material innovation. Our three integrated businesses – Composites, Insulation, and Roofing – provide durable, sustainable, energy-efficient solutions that leverage our unique material science, manufacturing, and market knowledge to help our customers win and grow. We are global in scope, human in scale with approximately 20,000 employees in 33 countries dedicated to generating value for our customers and shareholders, and making a difference in the communities where we work and live. Founded in 1938 and based in Toledo, Ohio, USA, Owens Corning posted 2021 sales of $8.5 billion.
The Recycling Partnership | July 29, 2022
The Recycling Partnership’s Polypropylene Recycling Coalition is celebrating the How2Recycle upgrade of polypropylene rigid containers to “Widely Recycled” in the U.S. This major milestone comes as the Coalition marks its two-year anniversary.
Launched in July 2020, the Coalition brings together stakeholders across the PP value chain – from resin suppliers and manufacturers to consumer packaged goods, and recycling processors – to improve PP recovery and recycling in the U.S. and to further develop end markets for recycling PP.
In the two years since the launch of the Coalition, its catalytic grants have proven highly successful at rapidly impacting the recycling system. The Coalition has awarded 24 grants totaling $6.7 million, including four grants that will be announced in August, to support sorting improvements and community education across the U.S. As a result, curbside access to PP recycling will improve for approximately 8% of households, positively affecting over 20 million people and increasing the amount of PP recovered by an estimated 25 million pounds annually for established domestic end markets. The speed at which the Coalition has been able to drive impact is attributable to the commitment of its members and the strong desire of materials recovery facilities (MRFs) to collect and sort this valuable commodity.
“Achieving success for challenged materials is not a narrative often heard in our industry. It was a mere two years ago when we acknowledged the challenges polypropylene recycling was facing and its uncertain future. In forming the Polypropylene Recycling Coalition, we committed to leaning in and taking action in support of the material, to push ourselves and the industry to a more circular future. The power of collaboration across the value chain can be seen through this substantial system-wide shift for polypropylene. The precedent we are setting for materials, coalitions, and innovations is exciting and hopeful. We encourage companies to join us as we continue to push polypropylene recycling to new heights.”
Keefe Harrison, CEO of The Recycling Partnership
In assessing the potential for the Coalition’s efforts to support an upgrade of PP to “Widely Recycled” under the How2Recycle program, the Coalition and How2Recycle teams worked closely together over the course of many months. Updated inputs were evaluated for the access and end markets criteria that originally led to PP being downgraded to “Check Locally” in January 2020.
Using the Sustainable Packaging Coalition’s 2020/2021 Centralized Study on Availability of Recycling for a prior baseline where PP rigid containers were reported as having a 59% access rate, the teams leveraged The Partnership’s National Recycling Database to evaluate the current U.S. access rate, which is now 65%. To evaluate the current state of end markets, the teams utilized The Partnership’s Circular Packaging Assessment tool to confirm the growth and strength of domestic end markets for PP. The teams saw improvements in these two areas as largely attributable to the catalytic work of the Coalition, as well as industry investment and increased recognition of the value of PP as a recycled commodity.
“The efforts of the Polypropylene Recycling Coalition are a great example of the impact that can be made with collective action focused on supporting the full recycling system and we are honored to have been in an advisory role since its inception,” said Caroline Cox, Director of How2Recycle. “As rigid polypropylene access, sortation, and end markets are on an upward trend across the U.S., we are excited to upgrade this packaging format from Check Locally to Widely Recycled eligibility. Thanks to the strength and efficacy of the data provided, How2Recycle is confident that this change in eligibility continues to be in line with federal law. While this win should be recognized, it is important to note that this is not the end of the road; the entire value chain should continue to invest in improving the recyclability of all materials and packaging formats.”
The Coalition is celebrating this significant impact – made in only two years – while recognizing that the work to support PP recycling must go further. The Coalition will continue to lead efforts to increase curbside access to PP recycling, support sortation equipment upgrades, as well as ensure PP domestic end markets continue to grow.
The mission-driven work of the Coalition is supported by contributions from organizations representing all segments of the material’s value chain. Members include Keurig Dr Pepper, Braskem, The NextGen Consortium, the Walmart Foundation, Advanced Drainage Systems, AMP Robotics, Berry Global, Campbell Soup Company, EFS-plastics, Ferrero, The Kroger Co. Zero Hunger | Zero Waste Foundation, KW Plastics, LyondellBasell, Merlin Plastics, Milliken & Company, Nestlé, Plastic Ingenuity, PolyQuest, Procter & Gamble, Sabert, St. Joseph Plastics, Total Energies, and Winpak. The Coalition is advised by industry leaders including, Association of Plastic Recyclers, Sustainable Packaging Coalition, World Wildlife Fund, Closed Loop Partners, and Sidewalk Infrastructure Partners.
All companies that use polypropylene are encouraged to become part of the solution to ensure greater and better capture of this valuable material. To learn more about the Coalition and how to get involved in supporting its goals, visit the Polypropylene Recycling Coalition webpage. For MRFs interested in applying for a grant, the application is available on the Coalition webpage.
About The Recycling Partnership
At The Recycling Partnership, we are solving for circularity. We mobilize people, data, and solutions across the value chain to unlock the environmental and economic benefits of recycling and a circular economy. We work on the ground with thousands of communities to transform
Chemours Compan | May 18, 2022
The Chemours Company a global chemistry company with leading market positions in Titanium Technologies, Thermal & Specialized Solutions, and Advanced Performance Materials, announced its participation leading a three-year recycling research project in collaboration with industry, academic, and government experts to develop an efficient, cost-effective, and more sustainable process for recovering titanium dioxide (TiO2) and polymers from plastic end-use products. The initiative, dubbed Remove2Reclaim, has the potential to drive significant environmental benefits, eliminating waste and reducing the amount of energy used in manufacturing, by enabling circularity across a much wider range of applications.
Current commercial scale recycling technologies do not allow polymers and additives to be effectively removed and separated, limiting the potential applications and overall quality of products made with recycled plastic. Remove2Reclaim is designed to change that. The project goal is to develop commercial-scale detection and extraction technologies that enable the removal and recovery of TiO2 and polymers for reuse.
“Through the Remove2Reclaim initiative, we hope to help crack the code on effective plastic recycling, achieving a new level of circularity for the industry. This initiative has the potential to reclaim thousands of tons of TiO2 from different end-of-life streams, reducing raw material demands, and creating a new TiO2 supply stream for our customers. We’re honored to lead this project in collaboration with a team of experts from across the value chain to pursue a common goal that benefits our shared planet.”
Steven De Backer, EMEA Technical Marketing Manager at Chemours
In the project’s first year, research partners have developed a sorting mechanism to effectively identify plastic wastes that contain TiO2 and determined innovative solvent-based extraction routes to remove TiO2 from different polymer matrices. Other project milestones include developing methods and equipment to detect TiO2 in specific polymer matrices, recovering TiO2 from the polymer by dissolution route, and eventually reusing the TiO2 and polymer in new products.
“At Chemours, we aspire to be the most sustainable TiO2 enterprise in the world, and that requires applying our expertise to some of the world’s greatest challenges, including plastic circularity,” said Ed Sparks, President of Titanium Technologies at Chemours. “We’re committed to leveraging responsible chemistry and cross-industry collaboration to solve our customers’ challenges with minimal impact on our shared planet. Remove2Reclaim is a great example of this model at work.”
The Remove2Reclaim project kicked off in September 2020 with the support of Catalisti, the spearhead cluster for the chemical and plastics industry in Flanders, Belgium. It includes a collaboration of the public and private sectors, including Chemours as the project coordinator, INEOS Styrolution, Lybover, Deceuninck, Matco Plastics, Centexbel, VITO, Ghent University, and KU Leuven. The project also received funding from VLAIO, the Flanders Innovation and Entrepreneurship Agency.
“Remove2Reclaim is an exciting project with the potential to turn recycling ambitions into circular solutions that benefit our planet,” reads a statement from Catalisti. “By bringing together leaders in the industry, academic, and government spheres, we’re taking a holistic approach that engages the entire value chain. The project has gained momentum under Chemours’ leadership, and we’re looking forward to seeing this initiative continue making progress toward achieving its goal of producing an innovative new recycling process.”
About The Chemours Company
The Chemours Company is a global leader in Titanium Technologies, Thermal & Specialized Solutions, and Advanced Performance Materials providing its customers with solutions in a wide range of industries with market-defining products, application expertise and chemistry-based innovations. We deliver customized solutions with a wide range of industrial and specialty chemicals products for markets, including coatings, plastics, refrigeration and air conditioning, transportation, semiconductor and consumer electronics, general industrial, and oil and gas. Our flagship products include prominent brands such as Ti-Pure™, Opteon™, Freon™, Teflon™, Viton™, Nafion™, and Krytox™. The company has approximately 6,400 employees and 29 manufacturing sites serving approximately 3,300 customers in approximately 120 countries. Chemours is headquartered in Wilmington, Delaware and is listed on the NYSE under the symbol CC.