Lux Research Predicts Which Chemical Manufacturing Platforms Will Be Electrified By 2050

Coatings World | April 07, 2020

Electrolysis technologies provide an opportunity for the chemical sector to decarbonize its supply chain and use renewable electricity as an alternative to oil and gas feedstock. While many forecasts show that oil and gas will continue to dominate in the chemical sector, Lux Research’s new report, “Electrifying Chemicals: The Cost of Producing Chemicals from Electricity,” predicts that emerging power-to-chemicals technologies will disrupt those figures and provide a new route of production, especially for the niche product sector. Power-to-chemical technologies are still in the early stages of development, and many key questions remain unanswered. To assess the impact of power-to-chemicals, Lux evaluated three main economic factors – the cost of electricity, feedstock prices, and the imposition of carbon taxes – that are driving adoption for eight key chemicals. The report shows that innovations in CO2 electrolysis will lead to the displacement of natural gas for pure carbon monoxide and formic acid production by 2050, but unless there is a large drop in electricity prices, incumbent production methods will remain intact for hydrogen, methanol, ammonia, and ethylene, among other chemicals.

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Transitioning from inefficient and waste intensive processes to acceptable, resource efficient alternatives requires a significant change in approach and technology. Our Centre for Industrial Flow Chemistry is a technology platform providing access to cutting edge research into industrial processing for Australian and international chemical manufacturers. But exactly how does Flow Chemistry work? Watch our video to find out.


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CHEMICAL MANAGEMENT

Hahn & Co. Acquires SK Group's Polyester (PET) Film Business

Hahn & 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.

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CHEMICAL MANAGEMENT

Oberon Fuels Joins International Trade Associations

Oberon Fuels | July 01, 2022

Oberon Fuels a maker of products that reduce greenhouse gas emissions of major energy sectors, has joined both the World Biogas Association and Liquid Gas Europe as Oberon continues to build upon its work in Europe and around the world. Oberon has developed a straightforward ‘here-now’ way to slash the CO2 emissions of the global Liquefied Petroleum Gas industry through the production of renewable dimethyl ether. Because rDME can be stored, transported and dispensed using existing LPG vehicles and equipment, it can be readily blended with fossil LPG to reduce carbon emissions by up to 60 percent. The intersection between rDME made from biogas and the LPG industry is a key reason for Oberon to join these trade associations. The EU consumes about 48 billion liters of LPG per year, of which an estimated 3.8 billion liters (1 billion gallons) are imported from Russia. Oberon Fuels can enable European countries to produce fuels from local renewable biomass with no indirect land use impacts while reducing the need to import foreign energy resources. To help meet the goals of the EU Green Deal, the EU market is ready for new approaches to decarbonizing a range of major uses including transport, heating and agriculture. Oberon’s interest in expanding into Europe and other global markets is intended to accelerate commercial adoption of rDME with near-term market trials leading to deployment of multiple commercial-scale production plants. Oberon already has strategic collaborations with leaders around the world including Suburban Propane (US) and South America-based Lipigas. Oberon executives were in Switzerland recently presenting at the International DME Association’s annual event, and company CEO Rebecca Boudreaux, Ph.D., spoke earlier today at the European Liquid Gas Congress event in Barcelona. About Oberon Fuels California-based Oberon Fuels is on a mission to decarbonize the fuel and energy sectors through the commercialization of renewable dimethyl ether. Oberon’s low or carbon-negative rDME can reduce the carbon intensity of propane by up to 60 percent when blended, offering potential reductions in global CO2 of 750 million metric tons per year. rDME’s characteristics also makes it a compelling means for transporting hydrogen for its myriad, fast-growing applications.

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CHEMICAL MANAGEMENT

Lummus Technology Launches Next Generation of Breech-Lock High-Pressure Heat Exchanger Closure

Lummus Technology, LLC | June 18, 2022

Lummus Technology, a global provider of process technologies and value-driven solutions, announced the launch of its Polaris™ breech-lock closure, a new technological upgrade applicable to its high-pressure heat exchanger equipment. This advanced design of breech-lock closure provides a host of operational benefits including safe, reliable and secure sealing under all conditions, a simplified assembly and easier maintenance. "The Polaris breech-lock heat exchanger exemplifies our dedication to deliver innovation and operational performance for customers requiring new or retrofitted heat exchangers. The new closure system allows for a wider range of operating conditions, increased unit sizes and capacities and reduces shut down times due to ease of use, while delivering the high reliability and safety our customers expect from Lummus." Rutger Theunissen, Chief Business Officer of Services and Supplies, Lummus Technology To preview this technology and its benefits, Lummus will participate in a live webcast hosted by Hydrocarbon Processing on Tuesday, June 21, 10:00 a.m. to 11:00 a.m. CDT. You can attend the webcast by registering here. The Polaris breech-lock design incorporates two new advanced features that elevate its performance above traditional breech-lock closures under today's stringent operational environments. The ProSeal™ system, a new gasket loading design, requires no internal split ring, flange or bolts for simplified fabrication, assembly and disassembly. The load to the seal is efficiently distributed and maintained under a wider range of operating conditions. The ProSeal system further protects the components from damage and deformation caused by plant upsets and differential thermal expansion. Complementing the new sealing system is the ProLock™ closure system, an advanced securing mechanism using a special appliance that is simpler and safer to operate. The design allows easy access to all threads for maintenance, lubrication and repair, and significantly reduces the time when inserting and removing the closing plug. High-pressure exchangers with breech-lock or screw-plug type closures are used in the hydroprocessing industry, primarily for hydrocracking, hydrotreating, lube oil, slurry and residue upgrade processing. Applications include use in reactor feeds and effluent exchangers, recycle gas exchangers, effluent recovery and gas recovery exchangers and other applications in gas compression and fertilizer processes. Lummus Technology has supplied heat transfer equipment to the process and power industries worldwide for more than 75 years. Specializing in heat transfer systems for critical process environments, Lummus has produced industry leading technology for fired heaters, including the SRT™ pyrolysis furnace, and heat exchangers, including the HELIXCHANGER™ heat exchanger and LABLEX™ Lummus advanced breech-lock exchanger. About Lummus Technology Lummus Technology is the global leader in developing process technologies that make modern life possible and focus on a more sustainable, low carbon future. Lummus is a master licensor of clean energy, petrochemical, refining, gas processing and renewable technologies, and a supplier of catalysts, proprietary equipment, digitalization and related lifecycle services to customers worldwide.

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CHEMICAL MANAGEMENT

Aramco and Cognite Join Forces in New Data Venture

Aramco and Cognite | June 20, 2022

Aramco and Cognite, a global leader in industrial software, have launched CNTXT, a joint venture based in the Kingdom of Saudi Arabia. Headquartered in Riyadh, CNTXT will support industrial digitalization in the Kingdom and the wider MENA region. CNTXT will provide digital transformation services enabled by advanced cloud solutions and leading industrial software. These solutions and services will help companies in the public and private sectors future-proof their data infrastructure, increase revenue, cut costs, and reduce risks while enhancing operational sustainability and security. CNTXT is Google Cloud’s reseller for cloud solutions in the Kingdom and the exclusive reseller of Cognite Data Fusion® in the MENA region. Additionally, Google Cloud is expected to launch a “Center of Excellence” later this year to provide training to developers and business leaders on how to use cloud technologies. Led by Abdullah Jarwan, appointed CEO of CNTXT, and a management team of local and international talent, CNTXT plans to significantly grow the team this year in hopes of becoming the top tech employer in the Kingdom. The launch of CNTXT is a major milestone in the collaboration between Aramco and Aker ASA, the majority owner of Cognite. The partnership began in 2019 with the signing of a Memorandum of Understanding (MoU) to develop synergies and share knowledge on industrial digitalization and sustainability initiatives. Ahmad A. Al-Sa'adi, senior vice president of Technical Services at Aramco, said: “CNTXT brings together industrial legacy, unmatched technology, and a truly talented team that will aid in the digitalization of the public and private sectors in the Kingdom. CNTXT will be an important catalyst of digitalization of the Kingdom.” Øyvind Eriksen, president of Aker ASA and chair of the Cognite Board of Directors, said: “CNTXT will be an important vehicle for driving profitability and sustainability of the Kingdom’s industries through innovative use of technology. I look forward to seeing the company accelerate the digital transformation of the most important sectors in the region.” Abdullah Jarwan, CEO of CNTXT, said: “The untapped potential in the digital transformation of the Kingdom of Saudi Arabia and the greater Middle East is enormous. With Google Cloud and Cognite offerings in our portfolio, we can help the public and private sectors innovate faster, scale AI-driven solutions, and turn data into value.” Abdul Rahman Al Thehaiban, managing director, Middle East, Turkey, and Africa, Google Cloud, said: “Businesses all around the world turn to Google Cloud to enable growth and help them solve their most business-critical challenges. With CNTXT as Google Cloud’s reseller in the Kingdom, we will be leveraging the latest technologies and decades of expertise to help businesses grow and develop safely and securely.” About Aramco Aramco is a global integrated energy and chemicals company. We are driven by the core belief that energy is opportunity. From producing approximately one in every eight barrels of the world’s oil supply to developing new energy technologies, our global team is dedicated to creating impact in all that we do. We focus on making our resources more dependable, more sustainable and more useful. This helps promote stability and long-term growth around the world. About CNTXT Founded in 2022 and based in Saudi Arabia, CNTXT is a joint venture between Aramco and Cognite that delivers premium cloud and digital transformation products and services in the Middle East and North Africa. CNTXT’s digital offerings, including Google Cloud and Cognite Data Fusion, enable customers to achieve greater efficiency, sustainability, and profitability throughout their digital transformation journeys. About Cognite Cognite is a global industrial SaaS company that was established with one clear vision: to rapidly empower industrial companies with contextualized, trustworthy, and accessible data to help drive the full-scale digital transformation of asset-heavy industries around the world. Our core Industrial DataOps platform, Cognite Data Fusion®, enables industrial data and domain users to collaborate quickly and safely to develop, operationalize, and scale industrial AI solutions and applications to deliver both profitability and sustainability.

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Spotlight

Transitioning from inefficient and waste intensive processes to acceptable, resource efficient alternatives requires a significant change in approach and technology. Our Centre for Industrial Flow Chemistry is a technology platform providing access to cutting edge research into industrial processing for Australian and international chemical manufacturers. But exactly how does Flow Chemistry work? Watch our video to find out.

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