CHEMICAL TECHNOLOGY

Plastic Makers Call for Global Agreement to Eliminate Plastic Waste

American Chemistry Council | September 02, 2021

The leaders of two of the world's largest plastic makers today called for a global agreement among nations to eliminate plastic waste in the environment, urging governments and stakeholders worldwide to press for a treaty resolution at upcoming United Nations meetings.

Dow Chairman and CEO Jim Fitterling and LyondellBasell CEO Bob Patel participated in today's Wall Street Journal special event "Getting There: A Global Agreement to End Plastic Waste." They spoke on behalf of the American Chemistry Council and the International Council of Chemical Associations, which represent leading chemical and plastic makers globally.

The two told the Journal's Phillipa Leighton-Jones that plastic makers are committed and eager to increase constructive engagement with governments and other stakeholders to advance a circular economy, in which plastics are reused instead of discarded. "Simply put," said Fitterling, "Our vision is to prevent plastics from entering our environment by achieving universal access to waste collection and reusing instead of discarding plastics."

They urged support for a resolution at the UN Environment Assembly in February 2022 that would begin negotiations on a global agreement to end plastic waste in the environment. "We should not confuse the value of plastics with the issue of plastic waste," said Patel. "This is a global challenge requiring a global solution. With support from the UN, we can develop a global framework to help us solve this critical issue."

To enable their vision, plastic makers have proposed a set of five principles to eliminate plastic waste, accelerate a circular economy for plastics, and serve as the basis for a global agreement.
  • All governments agree to eliminate plastic waste leakage into the environment by a specific date and develop regionally appropriate national action plans and policies that allow flexibility based on local circumstances.
  • Achieve widespread access to waste collection and support deployment of technologies (including advanced recycling) to increase the circularity of plastics.
  • Recognize the role plastics play in a lower carbon future by supporting life cycle analysis as a means to evaluate impacts of plastics and alternatives.
  • Support innovation in product and packaging design by developing, with industry input, global guidance on design, recycled content, and resource optimization.
  • Measure progress on plastic waste through globally accepted definitions and reporting metrics, using validated and harmonized methodologies.

About American Chemistry Council
ACC represents the leading companies engaged in the business of chemistry. ACC members apply the science of chemistry to make innovative products and services that make people's lives better, healthier and safer. ACC is committed to improved environmental, health and safety performance through Responsible Care®; common sense advocacy designed to address major public policy issues; and health and environmental research and product testing. The business of chemistry is a $486 billion enterprise and a key element of the nation's economy. It is among the largest exporters in the nation, accounting for nine percent of all U.S. goods exports. Chemistry companies are among the largest investors in research and development. Safety and security have always been primary concerns of ACC members, and they have intensified their efforts, working closely with government agencies to improve security and to defend against any threat to the nation's critical infrastructure.

Spotlight

With the ongoing boom in the US chemical industry, major companies worldwide are looking to increase capacity and meet demand by increasing investment in bigger, more ambitious projects across the globe. As a trusted provider of workforce solutions across the industry, Fircroft are always following the latest developments and tracking the biggest upcoming projects. We looked at the upcoming plans of the leading petrochemical & chemical companies in the world and found the most exciting projects that you need to be aware of.


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CHEMICAL MANAGEMENT

Imperial Petroleum Announces Pricing of Upsized $60 Million Underwritten Public Offering

Imperial Petroleum Inc. | March 21, 2022

Imperial Petroleum Inc. announced the pricing of an upsized underwritten public offering of 37,500,000 units at a price of $1.60 per unit. Each unit consists of one common share and one Class B warrant to purchase one common share, and will immediately separate upon issuance. The gross proceeds of the offering to the Company, before underwriting discounts and commissions and estimated offering expenses, are expected to be approximately $60 million. The Company intends to use the net proceeds of the offering for capital expenditures, including acquisitions of additional vessels which we have not yet identified, and for other general corporate purposes. Each Class B warrant is immediately exercisable for one common share at an exercise price of $1.60 per share and will expire five years from issuance. The offering is expected to close on or about March 23, 2022, subject to customary closing conditions. Maxim Group LLC is acting as sole book-running manager in connection with the offering. The Company has granted the underwriter a 45-day option to purchase up to an additional 5,624,950 common shares and/or prefunded warrants and/or 5,624,950 Class B warrants, at the public offering price less underwriting discounts and commissions. The offering is being conducted pursuant to the Company’s registration statement on Form F-1 previously filed with and subsequently declared effective by the Securities and Exchange Commission on March 18, 2022 and an additional registration statement filed pursuant to Rule 462(b), which was filed on March 18, 2022 and became effective upon filing. A final prospectus relating to the offering will be filed with the SEC and will be available on the SEC’s website at http://www.sec.gov. Copies of the final prospectus relating to this offering, when available, may be obtained from Maxim Group LLC, 300 Park Avenue, 16th Floor, New York, NY 10022, at 895-3745. This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. ABOUT IMPERIAL PETROLEUM INC. Imperial Petroleum Inc. is a ship-owning company providing petroleum product and crude oil seaborne transportation services. The Company currently owns three M.R. product tankers and one Aframax oil tanker with a total

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CHEMICAL MANAGEMENT

Hunt Consolidated and Dallas Petroleum Club Announce 15-Year Lease Agreement; Petroleum Club to Move to Hunt Building in January 2023

Hunt Consolidated | December 18, 2021

Hunt Consolidated, Inc. and the Dallas Petroleum Club announced they have signed a 15-year lease agreement that will result in the Dallas Petroleum Club moving to Hunt's headquarters building at 1900 North Akard with occupancy to begin in January 2023. "The Petroleum Club is one of Dallas' oldest and most respected organizations and their commitment to the greater Dallas community is undeniable. We are extremely pleased that they have selected our headquarters building as their new home and look forward to welcoming them to one of the most dynamic areas of downtown Dallas." Ray Hunt, executive chairman of Hunt Consolidated and former president of the Dallas Petroleum Club "Arrangement for a new updated space became a paramount consideration as our growing club felt the need for further enhancements," said Jack Lafield, president of the Dallas Petroleum Club. "Hunt's headquarters building is in a prime location and the Club's new quarters will be housed in a space like no other. This is a new era for the Petroleum Club and a new outlook for a healthy, energetic club holding proudly to a distinguished past. Partnering with such a distinguished Dallas industry family made our decision to relocate much easier." Under the terms of the agreement, the Dallas Petroleum Club will occupy the top two floors of Hunt's building. The Petroleum Club will use the top floor as its main dining area and will provide private dining rooms on the floor below. Located at 1900 North Akard Street in downtown Dallas, Hunt's headquarters was built in 2007 and was the first large, privately owned, single-tenant building constructed in the Dallas Central Business District since the 1990s. The building is nestled in the heart of the Dallas Arts District and sits across the street from Klyde Warren Park. The building has been designated the outstanding corporate facility in the region by Building Owners and Managers Association International on five different occasions. The Dallas Petroleum Club will be the second new tenant for Hunt's headquarters building. In November 2021, JPMorgan Chase announced its agreement with Hunt to move Chase's downtown Dallas offices to the building and occupy floors two through five in the third quarter of 2022. Other planned changes to the building include a renovated lobby and a new motor court adjacent to Akard Street. In preparing this agreement, Dallas Petroleum Club was represented by Jeff and John Ellerman, and Hunt was represented by Peter Yates, Ryan McManigal, and Chris Selbo with OliveMill Holdings. About Hunt Consolidated Hunt Consolidated, Inc. is a diversified holding company directed by the Ray L. Hunt family, with its major subsidiaries engaged in oil and gas exploration and production, real estate development, refining, LNG, power, ranching, and private equity investments. About The Dallas Petroleum Club The Dallas Petroleum Club, founded in 1934, was the first of its kind in the world. It began a few short years after the discovery of the giant East Texas Oil Field and was formed by a group of visionary men who wanted a place where business and social life would come together. Beginning with less than 50 members, the Club has over 1300 members today. The Club is a living symbol of the events that reflect both the petroleum industry and the City of Dallas. The Club has been awarded the "Emerald Club and Distinguished Clubs" recognition from BOARDROOM magazine and the "Hallmark of Excellence" from Forbes Travel Guide. Additionally, the Club has achieved "Platinum Clubs of the World" status from Club Leaders Forum for 25 consecutive years, including 2022-2023.

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CHEMICAL MANAGEMENT

XENDEE Partners with Idaho National Laboratory for Net-Zero Carbon Microgrid Program

XENDEE Corporation and Idaho National Laboratory | January 15, 2022

XENDEE Corporation and Idaho National Laboratory have partnered to build a design platform for Net-Zero Carbon Microgrids. The platform will consider a wide variety of distributed energy and sustainable technologies, including solar photovoltaic, battery storage, electric vehicle fast-charging stations, hydrokinetic power, hydro-storage, traditional combined heat and power systems, and small nuclear reactors to optimize Microgrid designs and minimize environmental impacts while also capturing the best return on investment. Essential to the development of the program was also a strong emphasis on greenhouse gas reductions, since as it stands, traditional generators running on fossil fuels still make up the backbone of most Microgrid implementations. The Net-Zero Carbon platform is based on XENDEE’s Microgrid design and operation software, which will act as the optimization engine, power flow simulation tool, and cloud-based Microgrid operator. XENDEE calculates the optimal time to make investment decisions, accounts for year over year changes in the financial and technological environment and can simulate the operation of the Microgrid at peak efficiency to meet organizational goals and resiliency requirements. “Net-Zero Carbon Microgrids offer an exceptional solution to large public and private energy consumers, lifting the burden of centralized distribution, ensuring long-term energy security, and specifically addressing greenhouse gases as a priority parameter for technical design,” Michael Stadler, CTO of XENDEE As part of INL’s pre-project research, 25 functional requirements were identified as necessary for developing a Net Zero Carbon Microgrid Planning and Design Tool. INL performed extensive pre-procurement market research and XENDEE was identified as the only solution with a comprehensive platform that met all the 25 requirements. XENDEE was also the only platform that offered integrated modeling for greenhouse gas emissions, which was vital to addressing carbon emissions as an essential part of the design process. “XENDEE offered a single comprehensive tool for Microgrid design and modeling that efficiently optimizes design and investment, power flow simulations, and organizational goals to meet resiliency requirements and cost efficiency,” said Tim McJunkin, Ph.D., Distinguished Researcher in Power and Energy Systems. “Additionally, with modeling considerations for greenhouse gas emissions and a variety of energy generation technologies, we can harness a variety of solutions to offer sustainability without sacrificing resiliency and energy security. This is why we selected XENDEE, and now we are partnering with XENDEE.” As part of this partnership, XENDEE will also be enhancing its software to model small modular nuclear reactors. “With the ever-increasing demands on regional utilities, aging infrastructure, and rising fuel costs, Microgrids have a unique opportunity to meet the challenges of climate change and contribute to a carbon-free power delivery system without overburdening energy markets and consumers,” said Ning Kang, Ph.D., Department Manager of Power and Energy Systems at INL. “The addition of small nuclear reactor technology can offer a unique zero-carbon solution while also meeting the load requirements of large industrial facilities and military bases.” To fully realize the new Net-Zero Carbon design tool for microgrids, INL and XENDEE will build upon the XENDEE platform to standardize design, research, investment, and decision support. XENDEE will also provide advanced training and continued project and feature support, including new technologies, as INL continues to verify the design tool through their Hardware-in-the-Loop system and perform onsite verification through public and private participants. INL’s technical report on Net-Zero Microgrids is available on the U.S. Department of Energy Office of Scientific and Technical Information website. About XENDEE XENDEE develops world-class Microgrid decision support software that helps designers and investors optimize and certify the Fight-Through™ resilience and financial performance of projects with confidence. The XENDEE Microgrid platform enables a broad audience, from business decision-makers to scientists, to support investments in Microgrids and maintain electric power reliability when integrating renewable generation sources. About Idaho National Laboratory Battelle Energy Alliance manages INL for the U.S. Department of Energy’s Office of Nuclear Energy. INL is the nation’s center for nuclear energy research and development, and also performs research in each of DOE’s strategic goal areas: energy, national security, science and the environment.

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Practical concentrate: Ceresana study on the world market for plastic masterbatches

Ceresana | October 02, 2020

Why complicate things when you can make them simple? Colorants and flavors for beverages are often not directly mixed with water and prefabricated, ready-to-use syrup concentrates are used instead. In the production of plastics, too, so-called masterbatches – granules with a high concentration of colorants, other additives, or fillers – are preferred to powders, pastes, or liquid additives. Premixed concentrates with precisely defined properties facilitate processing and increase process reliability: color masterbatches contain pigments or dyes; additive masterbatches specifically modify other properties of plastics. A wide variety of additives can be combined, for example stabilizers, antioxidants, antistatics, or flame retardants. Ceresana is now publishing the second, completely revised edition of its market study on masterbatches: the global demand for plastic masterbatches is expected to rise to almost 4.5 million tonnes by 2027. White Sun Protection and Bright Colors The top-selling type of masterbatch is currently white masterbatches. Global demand for this type has increased by an average of 2.1% p.a. over the last eight years. The most important product is titanium dioxide (TiO2): the plastics industry uses these white pigments to color toys, electrical appliances, automotive parts, furniture, and plastic films on a large scale. Titanium dioxide also absorbs UV rays and thus protects against harmful solar radiation. Color masterbatches with e.g. colorful inorganic, organic, and effect pigments follow in second place. The color black is usually achieved by using carbon black. It is often used for conductive packaging, films, fibers, molds, pipes, and cables. Another well-known end product is waste bags. Carbon Black offers many advantages in plastic applications, especially for technical polymers: it is very resistant to color changes and fading - even under extreme outdoor conditions. Packaging Manufacturers are Main Customers The demand for masterbatches follows the global market for plastics: the most important end applications are packaging, construction materials, transportation, electrical products and electronics, as well as other industrial goods. Packaging constituted the largest sales market in 2019, accounting for 36% of total demand. The construction industry ranked second by a considerable margin, followed by the segments industry and transportation. The category packaging includes all masterbatches for flexible plastic packaging, such as films, bags, and sacks, and for rigid packaging, e.g. yogurt cups, cans, bottles, and lids. The Study in Brief: Chapter 1 provides an overview and analysis of the global market for plastic masterbatches – including forecasts up to 2027: the development of demand and revenues is examined for each region of the world. Demand is broken down into the different types of masterbatches: white, black, color, and additive masterbatches. The different application areas are also examined separately: packaging, construction industry, transportation, electrical goods and electronics, industry, and other applications. Chapter 2 examines the 16 most important countries individually. The study presents demand per country, demand per type of masterbatch, as well as revenues. Demand is also analyzed according to the individual application areas. Chapter 3 offers a useful list of the 52 most important producers of plastic masterbatches. It is clearly arranged according to contact data, revenues, profit, product portfolio, production facilities, and profile summary. Further information: www.ceresana.com/en/market-studies/plastics/masterbatches/ About Ceresana As one of the world's leading market research institutes, Ceresana is specialized in the segments chemicals, plastics, packaging, and industrial goods. Companies have been benefiting from our high-quality industry analyses and forecasts since 2002. More than 180 market studies provide more than 10,000 customers around the world with the knowledge base for their sustainable success. Find more information about Ceresana at www.ceresana.com

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Spotlight

With the ongoing boom in the US chemical industry, major companies worldwide are looking to increase capacity and meet demand by increasing investment in bigger, more ambitious projects across the globe. As a trusted provider of workforce solutions across the industry, Fircroft are always following the latest developments and tracking the biggest upcoming projects. We looked at the upcoming plans of the leading petrochemical & chemical companies in the world and found the most exciting projects that you need to be aware of.

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