NOVA CHEMICALS TO SELL EXPANDABLE STYRENICS BUSINESS TO ALPEK

NOVA Chemicals | October 21, 2020

NOVA CHEMICALS TO SELL EXPANDABLE STYRENICS BUSINESS TO ALPEK
NOVA Chemicals Corp. announced that it has agreed to sell its expandable styrenics business to a subsidiary of Alpek S.A.B. de C.V. (San Pedro Garza Garcia, Mexico). The parties expect to close the transaction in the fourth quarter. The sale of its expandable styrenics business is an important step in NOVA Chemicals’ plan to focus on its olefin and polyethylene business, which includes additional investments to advance a global circular economy for plastic. “This transaction provides us with immediate cash generation to further strengthen our balance sheet and focus on the safe and successful. completion and start-up of our, world-class Advanced SCLAIRTECH™ technology facility under construction in Ontario, Canada,” stated Luis Sierra, president and CEO of NOVA Chemicals. “I’d like to thank our employees for their hard work and dedication. I’m confident that our talented people, assets and technology will allow Alpek to grow and improve this business to better serve customers throughout the Americas.”

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The Chemical Industry is evolving in new and unexpected ways while facing tremendous competition. To tackle this, the industry should make improvements across key areas of business processes such as supply chain & logistics, asset utilization, etc. This whitepaper addresses the pain points of the Chemical Industry and explains that how the implementation of mobility can help the industry achieve an adaptive and flexible supply chain.


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CHEMICAL TECHNOLOGY

HONEYWELL COLLABORATES WITH THE UNIVERSITY OF TEXAS AT AUSTIN FOR INNOVATIVE CARBON CAPTURE AND STORAGE TECHNOLOGY

Honeywell | December 16, 2021

Honeywell announced an agreement with The University of Texas at Austin that will enable the lower-cost capture of carbon dioxide emissions from power plants and heavy industry1. Honeywell will leverage UT Austin's proprietary advanced solvent technology to create a new offering targeted at power, steel, cement and other industrial plants to lower emissions generated from combustion flue gases in new or existing units. The solution provides these sectors with an additional tool to help meet regulatory requirements and sustainability goals. Honeywell has committed to achieve carbon neutrality in its operations and facilities by 2035. This new carbon capture technology builds on the company's track record of sharply reducing the greenhouse gas intensity of its operations and facilities as well as its decades-long history of innovation to help its customers meet their environmental and social goals. About half of Honeywell's new product introduction research and development investment is directed toward products that improve environmental and social outcomes for customers. The licensing arrangement with UT Austin expands Honeywell's leading carbon capture technology portfolio. Today, 15 million tons per year of CO2 is being captured and used in storage/utilization applications through Honeywell's CO2 Solutions process expertise. Honeywell currently has the capacity to capture 40 million tons per year through its installed projects worldwide2. UT Austin's patented solution utilizes an advanced solvent, which enables carbon dioxide to be captured at a lower cost through greater efficiency using smaller equipment, creating viable project economics today under current CO2 policy frameworks in North America and Europe. 1,3 For a typical power plant, applying advanced solvent carbon-capture technology would enable the capture of about 3.4 million tons of CO2 annually, equivalent to removing nearly 735,000 cars from the road each year.4 This point source CO2 removal technology can be retrofitted within existing plants or included as part of a new installation. In this process, carbon dioxide is absorbed into an amine solvent and then sent to a stripper where CO2 is separated from the solvent. This CO2 is then compressed for geological sequestration or used for other purposes. With thousands of power and industrial plants around the world, the opportunity for significant emissions reduction is enormous. "As the world proactively seeks technology solutions that limit greenhouse gas emissions, we recognize that carbon capture technology is an important lever available today to reduce emissions in carbon-intensive industries that have few alternative options, such as steel plants and fossil fuel power plants. By working with UT Austin, our advanced solvent carbon capture system will enable lower cost of CO2 captured post-combustion.1 Ben Owens, vice president and general manager, Honeywell Sustainable Technology Solutions "UT Austin is a leader in carbon capture research, focusing in this area for more than 20 years through its Texas Carbon Management Program. Gary Rochelle, professor at the McKetta Department of Chemical Engineering and leader of TxCMP at UT Austin, and his team have established an efficient, second-generation amine scrubbing system through years of research and analysis. The improved performance from this solution can unlock project economics for "hard to abate" industries such as steel, cement, and chemical plants, and coal, natural gas and bio-energy power plants. "We are thrilled that our decades of research has led to carbon capture technology that can significantly reduce carbon emissions.5 The licensing agreement with Honeywell enables us to commercially scale this in ways that can make major contributions toward zero emissions efforts to address global warming and to reduce pollutants in surrounding communities," Rochelle said. In 2020, carbon capture, utilization and storage projects worldwide were capturing and storing/using 40 million metric tons per year of carbon dioxide, according to the International Energy Agency. 6 In order to align with the IEA Sustainable Development Scenario, which demonstrates a pathway to limit global temperature rise by less than 1.65º C, CCUS project capacity must increase more than 20 times to enable capture of 840 million metric tons per year of CO2 by 2030.7 Honeywell is a Fortune 100 technology company that delivers industry-specific solutions that include aerospace products and services; control technologies for buildings and industry; and performance materials globally. Our technologies help aircraft, buildings, manufacturing plants, supply chains, and workers become more connected to make our world smarter, safer, and more sustainable. The University of Texas at Austin collaborates with a diverse array of partners — including entrepreneurs, investors, technology incubators, and large enterprises — to bring campus innovations to the market to improve lives. UT Austin research generates more than 150 new technologies each year, providing abundant and varied opportunities for industry collaboration. Read the latest research news or learn more about technologies available for partnering.

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CHEMICAL TECHNOLOGY

UGI and Vertimass Enter Agreement to Produce Renewable Fuels in the U.S. and Europe

UGI Corporation | January 06, 2022

UGI Corporation announced today that it has entered into a 15-year agreement with California-based technology developer, Vertimass, to utilize their catalytic technology to produce renewable fuels from renewable-ethanol in the U.S. and Europe. The agreement centers on the development of production facilities using Vertimass’ catalytic technology to convert renewable ethanol into renewable-propane and sustainable aviation fuel (SAF). The technology enables flexible production of the renewable fuels to align with regional market demand. Up to 50% of the total production capacity from the facilities can be renewable-propane that will support UGI’s ongoing efforts to provide innovative, low-carbon, sustainable energy solutions to its customers. UGI expects to invest either solely, jointly with Vertimass or in partnership with third parties to build and operate multiple production facilities over the next 15 years in locations across the U.S. and Europe, significantly increasing the supply of renewable-propane and SAF. UGI anticipates a total investment of roughly $500 million for the bolt-on production facilities over a 15-year period, including potential third party investment, with total production target from these aggregated facilities of approximately 1 billion gallons of combined renewable fuels per annum. The goal is to have the first production facility onstream in fiscal year 2024 with an annual production target of approximately 50 million gallons of combined renewable fuels. Vertimass employs catalytic technology to convert renewable ethanol and other renewable alcohols into renewable hydrocarbon fuels that are compatible with the existing equipment and infrastructure. This technology can be bolted on to existing ethanol production facilities, optimizing GHG emissions reduction, and bringing further end product diversification to the existing ethanol producer. The introduction of such ethanol-based “bio-refineries” is an attractive proposition for skilled job development and the opportunity to further drive energy independence using local resources. “This is another significant milestone in our commitment to providing renewable fuels to our customers. Our business development team continues to seek out innovative opportunities and I am delighted with our newly established partnership with Vertimass. We believe this partnership will deliver significant renewable LPG for our customers as well as bring investment opportunity to interested stakeholders.” Roger Perreault, President and Chief Executive Officer of UGI Corporation Charles Wyman, Vertimass President and Chief Executive Officer, continued “Vertimass is extremely excited to work with UGI to commercialize our breakthrough technology. UGI and Vertimass have built strong relationships over the last year, which we believe will cement success.” Bill Shopoff, Vertimass Chair, noted “Together we will take advantage of this unique low-cost technology to transform ethanol facilities and produce renewable fuels that will cover UGI’s global footprint, as well as enable the production of SAF.” More About the Technology Vertimass is developing a unique Consolidated Alcohol Deoxygenation and Oligomerization technology to allow produce sustainable aviation fuel (SAF) and diesel blendstocks that are compatible with the current transportation fuel infrastructure as well as LPG eliminate the ethanol “blend wall” by converting ethanol into fungible gasoline components for powering light duty vehicles, produce intermediates used to make plastics and other higher value products, and possibly debottleneck processes to increase throughput with little additional costs other than for feedstock. CADO completely converts wet ethanol into targeted hydrocarbons in a simple reactor system at moderate temperatures and near atmospheric pressure without adding hydrogen. Other benefits include the ability to lower plant water usage, reduce overall energy consumption, and drop GHG emissions to levels required for the Renewable Fuel Standard (RFS) Advanced Biofuel category. Introduction to Renewable-LPG (Renewable Propane) Renewable LPG, also known as renewable-propane, is chemically identical to today’s fossil LPG and therefore can be used with existing infrastructure. It has up to 80% lower carbon footprint than that of conventional LPG. About UGI Corporation UGI Corporation is a distributor and marketer of energy products and services. Through subsidiaries, UGI operates natural gas and electric utilities in Pennsylvania and West Virginia, distributes LPG both domestically and internationally, manages midstream energy assets in Pennsylvania, Ohio, and West Virginia and electric generation assets in Pennsylvania, and engages in energy marketing, including renewable natural gas in the eastern region of the United States and California, and internationally in France, Belgium, the Netherlands and the UK. About Vertimass Vertimass LLC is based in Irvine, California. The mission of Vertimass LLC is to develop and widely license breakthrough technologies that substantially expand production of sustainable transportation fuels and chemicals that reduce greenhouse gas emissions and improve energy security and domestic economies. Commercialization of proprietary Vertimass technology can overcome the blend wall that currently impedes expansion of ethanol production from multiple sources of biomass and open up large new markets for aircraft and heavy-duty vehicle fuels and for chemicals not currently amenable to ethanol.

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CHEMICAL MANAGEMENT

Seeking broader international footprint and portfolio of products, Mott acquires ASCO Filtri--its longtime partner in Europe.

Mott Corporation | January 14, 2022

Mott Corporation, a technology-driven, precision filtration company, acquired ASCO Filtri, its longtime strategic partner in Europe which designs and manufactures filtration solutions for a broad range of markets. Customers are increasingly seeking partners that can provide the highest level of support and quick response to their filtration needs around the globe. A combined, expanded presence throughout North America, South America, Europe, Asia, Africa, and the Middle East gives Mott and ASCO Filtri the ability to manage and deliver mission critical filtration projects and products worldwide. Further, this combination creates a filtration and fluid control company with an extensive material selection for the most demanding customer applications in key markets including Semiconductors, Life Sciences, Clean Energy, Oil/Gas, Petrochemicals, Chemicals, Water Purification, and Aerospace & Defense. Mott's expanded product selection will now include reusable and disposable porous metal, ceramic, polymer filters and a wide range of complementary offerings such as spargers, coalescers, and skids. "Being part of Mott Corporation extends ASCO Filtri's global reach and increases the range of solutions we can offer to our customers. I've known and admired Mott for many years and this formal combination is a natural evolution of our partnership to better service customers," said Ennio Michelini, Managing Director of Asco Filtri. "The acquisition of ASCO Filtri, our long-term partner in Europe, Middle East, and Africa creates proximity to our global customers and expands our products and design capabilities. We have worked as a close partner with ASCO Filtri for quite some time and have always been impressed by the quality of their people, technical capabilities, and strong product offering – all of which are quite complementary to Mott," Boris Levin, CEO of Mott Corporation ASCO Filtri will retain its team and locations. Ennio Michelini, Managing Director, and Massimo Mascheroni, General Manager, will join the Mott leadership team and will continue to manage ASCO Filtri business. It will now operate under the name ASCO Filtri: A Mott Company. About Mott Mott is a technology-driven, precision filtration company trusted by the world's best technical and performance brands across four core markets: Medicine, Computing Power, Clean Energy, and Space Exploration. Mott's products can be found in everything from lifesaving medical devices to artificial intelligence to the Mars Rover. Established in 1959 and headquartered in Farmington, Connecticut the company is 100% employee owned. About ASCO Filtri ASCO Filtri is a filtration company specialized in process filtration, able to design and manufacture solutions for a broad range of markets: Oil & Gas, Petrochemicals, Specialty Chemicals, Water Treatment, Food and Beverage, and Pharmaceutical. The company is headquartered in Binasco, Italy, outside of Milan.

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CHEMICAL MANAGEMENT

Tilley-Phoenix Group Completes the Acquisition of Callahan Chemical

Tilley-Phoenix Group | January 07, 2022

Tilley-Phoenix Group a leading U.S. based specialty ingredients distributor and value-added service provider, and portfolio company of SK Capital Partners announced the acquisition of Callahan Chemical Company a regional distributor of high-quality ingredients and compounds serving a diverse set of end markets including, food and beverage, personal care and cosmetics, pharmaceuticals and nutraceuticals, HI&I and CASE. The acquisition of Callahan aligns with the Company’s vision in creating a specialized, world-class supplier of high-quality ingredients supported by a robust value-added service offering. “We are extremely pleased to complete the acquisition of Callahan Chemical, believing it represents a highly complementary business with shared values and vision as a specialty-focused distributor supported by a strong value-added service foundation. We look forward to partnering with the Callahan team as we enhance the value we bring to existing and new customers,” Jean-Paul Benveniste, President and CEO of Tilley-Phoenix Callahan is a leading regional distributor offering optimized chemical distribution solutions aligned to individual customer requirements. Callahan’s mission is supported by a comprehensive portfolio of value-added services, including regulatory and technical support, custom formulation, in-house laboratory quality assurance and quality control, blending, storage and packaging, and repackaging. Callahan distributes a broad portfolio of products sold into regulated markets, which complement the existing Tilley-Phoenix platform while also expanding the Company’s product offering and market focus with a full-line offering of CASE products. “Since its founding in 1958 by my father James B. Callahan, Callahan Chemical has consistently provided outstanding value to its customers, suppliers, and employees. We are confident that by joining the Tilley-Phoenix Group the opportunity to increase our value-added services will be greatly enhanced,” said John Callahan, CEO of Callahan Chemical. The addition of Callahan to Tilley-Phoenix provides customers with state-of-the-art regulatory and technical support, broader logistics expertise, and an enhanced product offering of value-added ingredients for applications in regulated markets. “Callahan, like Tilley-Phoenix, brings a strong value-added approach to serving its suppliers and customers. The acquisition enhances the platform’s geographic reach, which is particularly compelling for our shared supplier base,” said Sean Tilley, President and COO of Distribution. Looking forward, Tilley-Phoenix plans to continue its pursuit of selective M&A, focused largely on specialty products sold into regulated markets. The Company continues to focus on expanding the value-added platform, seeking targeted opportunities to enhance the value, quality, and breadth of solutions we bring to both customers and suppliers. Callahan represents the third acquisition of 2021 for Tilley-Phoenix. Klehr Harrison LLP acted as legal counsel to Tilley-Phoenix and committed debt financing was led by Madison Capital Funding LLC. About Tilley-Phoenix Group Formed through the merger of Tilley Co. and Phoenix Aromas and Essential Oils, Tilley-Phoenix is a value-added specialty ingredients distributor serving food and beverage, fragrance, personal care and cosmetics, HI&I and pharmaceutical markets. The Company seeks to act as a direct extension of their suppliers’ selling networks to effectively partner and service broader customer networks. Tilley-Phoenix operates modern, efficient global distribution facilities to serve its customers’ just-in-time production needs. The Company offers a comprehensive portfolio of value-added services, including regulatory & technical support, full-service QA/QC laboratory, custom formulation, custom blending & packaging, and specialty storage.

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Spotlight

The Chemical Industry is evolving in new and unexpected ways while facing tremendous competition. To tackle this, the industry should make improvements across key areas of business processes such as supply chain & logistics, asset utilization, etc. This whitepaper addresses the pain points of the Chemical Industry and explains that how the implementation of mobility can help the industry achieve an adaptive and flexible supply chain.

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