American Chemistry Council | November 29, 2022
As a looming freight rail strike threatens to shut down the U.S. economy, the American Chemistry Council is calling on the White House and Congress to act quickly to keep vital chemical shipments moving.
"Chemical manufacturers are one of the first industries that will be impacted as railroads start restricting service up to a week before a threatened strike. Freight rail transportation is vital for transporting chemicals critical to everyday life, including water treatment, energy production and food production. Shutting down chemical shipments by rail would quickly send shockwaves that would be felt through the entire economy and households across the country."
Chris Jahn, ACC's president and CEO
To prepare for a shutdown, railroads stop accepting "security sensitive shipments" – including certain chemicals - well in advance of a strike. Many chemical facilities would be forced to curtail production or shut down within the first week of a rail service embargo.
Fueling Inflation & Recession
No one would be immune if an actual strike and full shutdown of the rail network were to occur. ACC estimates a strike would put a chill on the entire economy and shove the country into a recession.
According to an economic analysis conducted by ACC, the impact of a potential strike would be felt almost immediately in terms of business shutdowns, scarcity of materials and goods, and lost economic activity. According to the analysis, a strike lasting one month would likely put a major chill on several leading economic indicators through the first half of 2023:
Economic Slowdown: The Gross Domestic Product would contract by one percentage point, which would pull almost $160 billion dollars out of the economy. To put this into perspective, during the financial meltdown in 2008, the economy lost $210 billion dollars through the first half of 2008.
"A rail strike could shove the economy out of recovery mode and into a recession," said Martha Moore, ACC's chief economist. "A prolonged strike would have an exponential effect for each additional month and drag the country into a potential recession much faster."
"This is a preventable crisis that should not fall on the shoulders of American consumers and manufacturers," said Jahn. "President Biden and Congress must act this week on a bipartisan solution based on the terms that labor leaders and railroads agreed to in September."
American Chemistry Council
The American Chemistry Council represents the leading companies engaged in the multibillion-dollar business of chemistry. ACC members apply the science of chemistry to make innovative products, technologies and services that make people's lives better, healthier and safer. ACC is committed to improved environmental, health, safety and security performance through Responsible Care®; common sense advocacy addressing major public policy issues; and health and environmental research and product testing. ACC members and chemistry companies are among the largest investors in research and development, and are advancing products, processes and technologies to address climate change, enhance air and water quality, and progress toward a more sustainable, circular economy.
Babcock & Wilcox | December 02, 2022
Babcock & Wilcox announced that it has entered into an agreement with Chart Industries, Inc. to collaborate on the further deployment of B&W’s BrightLoopTM hydrogen generation technology, utilizing Chart’s integrated hydrogen liquefaction and cryogenic carbon capture equipment and expertise. Together, this solution provides economic generation of low-carbon hydrogen and supplies cost-effective, transportable forms of liquid hydrogen and carbon dioxide.
B&W and Chart will also work together to develop sales and marketing strategies for potential commercial hydrogen and carbon capture customers and projects.
“This collaboration agreement with Chart offers tremendous opportunity to further deploy B&W’s advanced BrightLoop technology. Chart is recognized as an industry leader in liquefaction of CO2 and hydrogen, and their expertise will complement B&W’s proven chemical looping technology as we work together to identify new opportunities to grow our respective businesses.”
Kenneth Young, Chairman and Chief Executive Officer, B&W
“Low-carbon intensity hydrogen is already playing a key role in the global effort to reduce emissions and combat climate change,” Young said. “We’re excited to use our technologies and expertise to help customers across the power and industrial markets achieve their greenhouse gas and emissions reduction targets.”
"We are excited to partner with B&W to accelerate further progress in the growing hydrogen economy, in particular, for bringing more efficient and scalable solutions,” said Jill Evanko, Chart’s CEO and President. “The combination of our respective companies’ hydrogen, CO2 and chemical technology expertise is expected to bring more innovative and cost-effective offerings to customers looking to low-carbon intensity hydrogen to help achieve their carbon emission reduction goals.”
B&W's flexible BrightLoop technology – part of its ClimateBright™ suite of decarbonization and hydrogen technologies – is applicable to a wide range of feedstock, product outputs and applications for industries and utilities. The BrightLoop system is scalable and can convert a wide range of fuels, including natural gas, coal, petroleum coke (petcoke), methane, biomass, biogas, and other industrial process off-gases and materials into hydrogen, syngas and steam for power, process and heating while also isolating CO2 for storage or use.
Chart’s state-of-the-art, efficient hydrogen liquefaction process technology and equipment solutions allow for produced hydrogen gas to be more effectively stored and transported much longer distances as a dense liquid, using Chart storage tanks, trailers, ISO containers, and rail cars. Chart’s Sustainable Energy Solutions cryogenic carbon capture technology removes CO2 from flue gas and supplies liquid CO2 ready for transport via trailer or pipeline to storage or utilization. The refrigeration for both hydrogen liquefaction and CCC can be combined to decrease capital and operating costs.
About Babcock & Wilcox
Headquartered in Akron, Ohio, Babcock & Wilcox Enterprises, Inc. is a leader in energy and environmental products and services for power and industrial markets worldwide.
About Chart Industries, Inc.
Chart Industries, Inc. is a leading independent global manufacturer of highly engineered equipment servicing multiple applications in the clean energy and industrial gas markets. The company’s unique product portfolio is used in every phase of the liquid gas supply chain, including upfront engineering, service and repair. Being at the forefront of the clean energy transition, Chart is a leading provider of technology, equipment and services related to liquefied natural gas, hydrogen, biogas and CO2 Capture amongst other applications. Chart is committed to excellence in environmental, social and corporate governance issues both for its company as well as its customers. With over 25 global locations from the United States to Asia, Australia, India, Europe and South America, the company maintains accountability and transparency to its team members, suppliers, customers and communities.
CHEMICAL MANAGEMENT, SCIENCE AND RESEARCH
Braskem | December 01, 2022
Braskem the largest polyolefins producer in the Americas, as well as a market leader and pioneer producer of biopolymers on an industrial scale, today announced it has joined Greentown Labs, the largest climatetech startup incubator in North America, as a Gigawatt Partner.
Making the announcement, Jake Harrison, Open Innovation Specialist, Braskem America, stated, "We are truly delighted to join the Greentown Labs partner ecosystem to expand our opportunity to engage and collaborate with emerging startups building solutions in the materials, chemicals, recycling, and energy arenas. This like-minded community shares our commitment to a more sustainable future and discovering innovative solutions that support our vision for a low-carbon circular economy. As a new Gigawatt Partner, Braskem will connect with a dedicated community of entrepreneurs and utilize our strength and expertise to bring essential technologies to more sustainable materials and chemicals markets."
Greentown Labs offers more than 200 startups in Boston, MA, Houston, TX, and globally the expertise, resources, and support they need to change the world. Whether that involves introductions to strategic partners or high-end equipment or the community itself, less than a decade after its founding Greentown has buoyed hundreds of cutting-edge startups that are tackling climate change head-on.
"The climate crisis urgently demands sweeping climatetech deployment across all sectors of the economy. While startups bring innovative solutions, partnering with corporations such as Braskem creates pathways to accelerate commercialization and scale. Braskem is uniquely positioned to help decarbonize the plastics sector and move us toward a truly circular economy, and we are proud to have them join our network of corporate partners. We look forward to seeing many fruitful engagements between their industry experts and our entrepreneurs."
Greentown Labs CEO Dr. Emily Reichert
Braskem's goal is to be a global leader in sustainable development in the petrochemical industry. As a Greentown Labs Gigawatt Partner, Braskem will participate alongside industry and sector peers in fostering new technologies that are aligned with its sustainability targets. Additionally, Braskem will participate in innovation days, forums, and other Greentown ecosystem events.
From promoting plastic circularity to driving the bio-based materials revolution, Braskem is committed to diminishing the dependency on finite resources and reducing carbon emissions while generating a positive impact for a better society.
Braskem has clearly stated targets for growing the company's recycled content product portfolio to sales of 300,000 tons by 2025 and 1 million tons by 2030. Braskem's transition to a circular economy is deeply rooted in mechanical and advanced recycling solutions. By engaging and investing in partnership with other value-chain players, the company is strengthening mechanical and advanced recycling, overcoming barriers, and ensuring the increased production of high-quality recycled material. All these initiatives are aligned with Braskem's feedstock diversification strategy and its macro goals of expanding the circular economy concept in the plastics chain and becoming a carbon-neutral company by 2050.
ABOUT GREENTOWN LABS
Greentown Labs is a community of climate action pioneers working to design a more sustainable world. As the largest climatetech startup incubator in North America, Greentown Labs brings together startups, corporates, investors, policymakers, and many others with a focus on scaling climate solutions. Driven by the mission of providing startups the resources, knowledge, connections, and equipment they need to thrive, Greentown Labs offers lab space, shared office space, a machine shop, an electronics lab, software and business resources, and a large network of corporate customers, investors, and more. With incubators in Somerville, Mass. and Houston, Texas, Greentown Labs is home to more than 200 startups and has supported more than 500 since the incubator's founding in 2011. These startups have collectively created more than 9,000 jobs and have raised more than $4 billion in funding.
With a global vision of the future oriented toward people and sustainability, Braskem is committed to contributing to the value chain for strengthening the Circular Economy. The petrochemical company's almost 8,000 team members dedicate themselves every day to improve people's lives through sustainable chemicals and plastics solutions. Braskem has an innovative DNA and a comprehensive portfolio of plastic resins and chemical products for diverse segments, such as food packaging, construction, manufacturing, automotive, agribusiness, healthcare, and hygiene, among others. With 40 industrial units in Brazil, the United States, Mexico, and Germany, and exports its products to clients in more than 70 countries.
Chevron | November 18, 2022
Chevron U.S.A. Inc., a subsidiary of Chevron Corporation announced it signed a definitive agreement to acquire full ownership of Beyond6, LLC and its network of 55 compressed natural gas stations across the United States from Chevron’s current B6 co-owners, a subsidiary of Mercuria Energy Trading and B6 CEO Andrew West.
Chevron is complementing the strength of its traditional products business with new offerings that help customers support a lower carbon future, and renewable natural gas is an essential part of its portfolio of solutions. Through collaborations with Brightmark LLC and California Bioenergy LLC, Chevron is developing projects across the United States designed to convert fugitive methane emissions from dairies to a beneficial use as renewable natural gas, which can be considered carbon negative on a lifecycle basis under California’s Low Carbon Fuel Standard. With this acquisition, Chevron can market the RNG it either produces or procures through a nationwide network of CNG locations.
"Chevron has seen strong demand for our RNG-to-CNG fuel offering from new and existing customers. Because of its carbon negative attribute and the ability of fleet operators to efficiently adapt vehicles to run on CNG, renewable natural gas can be a lower carbon solution for fleets seeking to reduce their lifecycle greenhouse gas emissions."
Andy Walz, Chevron's president of Americas Products
Mercuria and Chevron will enter into a long-term supply relationship to deliver renewable natural gas to Chevron as part of the transaction.
"B6 represents a best-in-class operator in the build-out of a renewable natural gas network, and Mercuria has been excited to help the company grow from a stand-alone business to one that can help drive growth under Chevron," said Brian A. Falik, Mercuria's chief investment officer. "The partnership with Chevron has been a great success, and we look forward to helping them supply renewable fueling solutions to their customers."
Chevron is one of the world's leading integrated energy companies. We believe affordable, reliable and ever-cleaner energy is essential to achieving a more prosperous and sustainable world. Chevron produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals and additives; and develops technologies that enhance our business and the industry. We are focused on lowering the carbon intensity in our operations and growing lower carbon businesses along with our traditional business lines.
Founded in 2004, Mercuria is one of the largest independent energy and commodity groups in the world. As an integrated group, Mercuria is present all along the commodity value chain with activities forming a balanced combination of trading flows, strategic assets and structuring solutions. With more than USD 100 billion in turnover, Mercuria has become one of the most active players in the energy and renewables markets. Over the next five years, the company will direct half of its investment towards the energy transition.