SOCMA Celebrates 3 Year Reauthorization of DHS Chemical Facilities Anti-Terrorism Standards

SOCMA | July 21, 2020

The Society of Chemical Manufacturers & Affiliates (SOCMA) today welcomes the passage of legislation that includes a 3-year reauthorization of the Department of Homeland Security's (DHS) Chemical Facilities Anti-Terrorism Standards (CFATS). Senate bill S.4148 will now be sent to the President's desk for signature.

CFATS is the Department of Homeland Security's regulatory program for security at high-risk chemical facilities, which was set to expire on July 23. Through continued engagement with federal agencies such as DHS, SOCMA provides its members with clarity and interpretive guidance on major federal policy issues such as CFATS.

"The CFATS program is integral to the specialty chemicals industry, and our members are both happy and relieved at its extension," said Robert F. Helminiak, SOCMA's Vice President of Legal and Government Relations. "Reauthorization provides our industry with the certainty needed to make long-term facility security investments and enables DHS to continue running the CFATS program efficiently, ensuring it properly protects against security threats across the nation."

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CHEMICAL TECHNOLOGY

Carbios, On, Patagonia, PUMA and Salomon Team up to Advance Circularity in the Textile Industry

Carbios | July 07, 2022

Carbios a pioneer in the development of enzymatic solutions dedicated to the end-of-life of plastic and textile polymers, has signed an agreement with On, Patagonia, PUMA, and Salomon, to develop solutions that will enhance the recyclability and circularity of their products. An important element of the two-year deal will be to speed up the introduction of Carbios’ unique biorecycling technology, which constitutes a breakthrough for the textile industry. Carbios and the four companies will also research how products can be recycled, develop solutions to take-back worn polyester items, including sorting and dismantling technologies, and gather data on fiber-to-fiber recycling as well as circularity models. The challenge the four brands share, is that their ambitious sustainable development goals can only partially be met by conventional recycling technologies which mostly target bottle-to-fiber recycling. Future regulations will require more circularity in packaging and textile. Yet the market consensus is that there will soon be a shortage of PET bottles, as they will be used for circular production methods in the Food & Beverage Industry. Carbios’ innovative process constitutes a real technological breakthrough for the recycling of polyester fibers, which are widely used in apparel, footwear and sportswear, on their own or together with other fibers. PET polyester is the most important fiber for the textile industry with 52 MT produced, even surpassing cotton at 23MT1. The biorecycling process uses an enzyme capable of selectively extracting the polyester, recovering it to recreate a virgin fiber. This revolutionary technology makes it possible to recover the PET polyester present in all textile waste that cannot be recycled using traditional technologies. PET plastics and fibers are used to make everyday consumer goods such as bottles, packaging and textiles. Today, most PET is produced from fossil resources, then used and discarded according to a wasteful linear model. By creating a circular economy from used plastics and fibers, Carbios’ biorecycling technology offers a sustainable and more responsible solution. “This Consortium model has proved to be very efficient based on the success of the milestones previously achieved in packaging. We are very pleased to partner with these prestigious brands, On, Patagonia, PUMA, and Salomon. Our common goal is to contribute to reducing the environmental impact of the textile industry by offering an industrial solution to recycle polyester fibers and help our partners to meet their sustainable development goals.” Emmanuel Ladent, Chief Executive Officer of Carbios Adrianne Gilbride, Senior Sustainability Manager at On, noted “On is committed to becoming fully circular before the end of the decade. Our partnership with Carbios and the other consortium members is an important step towards enabling the industry to game-changing circular technologies at scale. Fiber-to-fiber recycling is a key building block in closing the loop within the textile and footwear industry". Natalie Banakis, Materials Innovation Engineer Patagonia, adds “At Patagonia we are actively using our business to “save the Home planet”. We are excited to partner with Carbios and the textile consortium to work collaboratively to reduce waste produced by textiles. The textile waste problem is bigger than one company or solution, and Patagonia is excited to be working in a new format to solve this problem.” Howard Williams, Director Global Innovation Apparel and Accessories at PUMA adds, ”As part of our Forever Better sustainability strategy, we aim to use 75% recycled polyester in our Apparel and Accessories by 2025. The partnership with Carbios and their innovative biorecycling methods offer a promising approach to reach our goals and make our industry as a whole more circular.” Olivier Mouzin, Footwear Sustainability Manager at Salomon, concludes, ”At Salomon, we provide advanced sports solutions for all the outdoor participants, from the elite to the enthusiasts. Therefore, it is a natural decision for us to join this consortium made up of clothing and footwear companies, as well as Carbios, to form a new organization for advancing textile recycling that will help create a sustainable future for all Outdoor players. Our goal in joining the consortium is to bring awareness to the end-of-life of textiles, with the ambition of establishing true circularity within the textile industry. The companies in the consortium aim to do this by discovering ways to recycle fibers from one product into another. Partnering with Carbios—a green chemistry leader offering a bio-recycling process that recycles apparel and footwear materials into thread for new products—better enables us to accomplish this goal.” About Carbios Established in 2011 by Truffle Capital, Carbios is a green chemistry company, developing biological and innovative processes. Through its unique approach of combining enzymes and plastics, Carbios aims to address new consumer expectations and the challenges of a broad ecological transition by taking up a major challenge of our time: plastic and textile pollution. About Patagonia Patagonia is a Certified Benefit Corporation based in Ventura, CA that is recognized internationally for product quality and environmental activism. Patagonia has contributed more than $145 million in grants and in-kind donations to date to grassroots nonprofits working to protect people and the planet. About PUMA PUMA is one of the world’s leading sports brands, designing, developing, selling and marketing footwear, apparel and accessories. For more than 70 years, PUMA has relentlessly pushed sport and culture forward by creating fast products for the world’s fastest athletes. PUMA offers performance and sport-inspired lifestyle products in categories such as Football, Running and Training, Basketball, Golf, and Motorsports. It collaborates with renowned designers and brands to bring sport influences into street culture and fashion. The PUMA Group owns the brands PUMA, Cobra Golf and stichd. The company distributes its products in more than 120 countries, employs about 16,000 people worldwide, and is headquartered in Herzogenaurach/Germany. About Salomon Born in the French Alps in 1947, Salomon is committed to pushing the boundaries of mountain sports through the creation of innovative equipment that allows people to play, progress and challenge themselves in their chosen outdoor sports. The company produces and sells premium footwear, winter sports and mountaineering equipment, hiking equipment, and apparel specifically designed for all those disciplines. Products are developed in the company’s Annecy Design Center, where engineers, designers and athletes collaborate to create innovative solutions that continually improve the outdoor experiences of those who see nature as a vast playground.

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CHEMICAL MANAGEMENT

Fulcrum BioEnergy Completes $20 Million Investment With SK Innovation

Fulcrum BioEnergy, Inc. | July 13, 2022

Fulcrum BioEnergy Inc., a clean energy company pioneering the creation of renewable, drop-in transportation fuels from landfill waste, today announced that it has completed a $20 million equity investment in Fulcrum by SK Innovation, the energy arm of South Korea's SK Group. In addition, Fulcrum and SK Innovation will work together to enter into an exclusive licensing agreement providing the opportunity to explore the possibilities of bringing Fulcrum's patented and proprietary waste-to-fuel process to South Korea and select countries in Asia. SK Innovation, which contributes to South Korea's energy security and economic development, operates South Korea's largest refinery as well as petrochemical, e-mobility battery and information electronic materials businesses. This is the second investment that SK Group has made in Fulcrum, following its participation in a $50 million equity round in December 2021 by SK Inc. "This investment signals another strong vote of confidence in Fulcrum's proprietary waste to fuels process following the recent operational achievement of producing syngas from landfill waste at our Sierra BioFuels Plant. The team at SK Innovation have been at the forefront of shepherding South Korea into a green energy future. We look forward to our continued partnership as we explore the many possibilities ahead of us in Asia." Eric Pryor, Fulcrum's President and Chief Executive Officer This expanded partnership and investment comes on the heels of the company completing the commissioning and initial operations of its inaugural biorefinery, the Sierra BioFuels Plant located east of Reno, Nevada. In May, the company demonstrated its ability to transform landfill waste feedstock into a syngas, laying the groundwork for Fulcrum to move on to the final step in its waste to fuels process, converting the syngas into liquid fuel. Beyond Sierra, Fulcrum has also announced plans for additional plants as it seeks to scale up its production and address critical and urgent environmental issues – the reduction of carbon emissions from the aviation industry, of garbage sent to landfills and of the nation's dependence on foreign oil. About Fulcrum Based in Pleasanton, California, Fulcrum is leading the development of a reliable and efficient process for transforming waste into net-zero carbon transportation fuels, including sustainable aviation fuel and diesel. The Company's innovative process, which utilizes landfill waste as a feedstock, will reduce greenhouse gas emissions by approximately 100% compared to traditional fuel production, contributing to the aviation and transportation sectors' carbon reduction goals. Beginning with the Sierra BioFuels Plant, Fulcrum's plants will provide customers with low-carbon drop-in fuel that is competitively priced with traditional petroleum fuel. The Company is advancing on its large commercial growth program of net-zero carbon waste-to-fuels plants across North America with a planned production capacity of approximately 400 million gallons per year. Fulcrum, a privately held company, has aligned itself and entered into strategic relationships with industry leaders in the waste, aviation and energy sectors to further strengthen and accelerate the Company's patented and proprietary approach to commercially producing large volumes of renewable fuel from landfill waste.

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CHEMICAL MANAGEMENT

Callon Petroleum Company Announces Launch of $600 Million Senior Unsecured Notes Offering

Callon Petroleum Company | June 13, 2022

Callon Petroleum Company announced that, subject to market and other conditions, it intends to offer $600 million aggregate principal amount of senior unsecured notes due 2030 in a private offering that is exempt from registration under the Securities Act of 1933, as amended. The net proceeds from the offering, together with borrowings under the senior secured revolving credit facility, are expected to be used to redeem all $460.2 million of the Company's existing 6.125% Senior Notes due 2024 and all $319.7 million of the Company's existing 9.00% Second Lien Senior Secured Notes due 2025. The redemption price of the 2024 Notes is equal to 101.531% of the aggregate principal amount outstanding, plus accrued and unpaid interest to the applicable redemption date. The redemption price of the Second Lien Notes is equal to 100.000% of the aggregate principal amount outstanding, plus an applicable make-whole premium plus accrued and unpaid interest to the applicable redemption date. This announcement is not an offer to purchase or a solicitation of an offer to sell the 2024 Notes or the Second Lien Notes, and it does not constitute a notice of redemption of the 2024 Notes or the Second Lien Notes. The notes and the related guarantees to be offered have not been registered under the Securities Act or any state securities laws and unless so registered, the notes and the related guarantees may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. The notes and the related guarantees are being offered only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act and outside the United States pursuant to Regulation S under the Securities Act. This press release is being issued pursuant to Rule 135(c) under the Securities Act, and is neither an offer to sell nor a solicitation of an offer to buy the notes or any other securities and shall not constitute an offer to sell or a solicitation of an offer to buy, or a sale of, the notes and the related guarantees or any other securities in any jurisdiction in which such offer, solicitation or sale is unlawful. About Callon Petroleum Company Callon Petroleum Company is an independent oil and natural gas company focused on the acquisition, exploration and development of high-quality assets in the leading oil plays of South and West Texas.

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CHEMICAL MANAGEMENT,SCIENCE AND RESEARCH

Imperial and E3 Lithium form strategic agreement on lithium pilot project in Alberta

Imperial | June 24, 2022

Imperial Oil Limitedand E3 Lithium announced a collaboration to advance a lithium-extraction pilot in Alberta, exploring the redevelopment of an historic oil field into a potential new leading source of lithium for Canada’s growing critical minerals industry. The pilot will support E3 Lithium’s Clearwater project, which will draw lithium from under the Leduc oil field, Imperial’s historic discovery that first launched major oil and gas development in Western Canada. E3 Lithium’s proprietary technology is designed to extract the critical mineral from the lithium-rich brine, with potential for commercial development of battery-grade products. “This exciting collaboration brings together Imperial’s long-standing commitment to research and technology to help test and scale E3’s lithium-recovery technology. We continue to advance the innovation and technologies needed to support the energy transition, working in collaboration with governments and industry to progress new opportunities from existing assets and sector expertise.” Jason Iwanika, director of commercial business development at Imperial “E3 Lithium and Imperial share an interest in the diversification of the Alberta economy, local job creation and sustainability,” said Chris Doornbos, CEO of E3 Lithium. “Leduc No.1, Imperial’s first well into this reservoir, was one of Imperial’s most prolific oil discoveries in Alberta and transformed the provincial and Canadian economies, much like lithium has the potential to do. Having Imperial now working with E3 Lithium in exploring the redevelopment of Leduc into a world-class source of lithium is an exciting new chapter in Alberta and Canada’s story.” The pilot project includes drilling Alberta’s first lithium evaluation wells, planned to be completed by the end of the third quarter of this year. Work will also focus on scaling up E3 Lithium’s proprietary technology, which brings the brine liquid to the surface where the lithium is removed and concentrated. This liquid is immediately returned underground as part of a closed-loop system. E3 Lithium’s PEA1 estimates the first phase of development could produce approximately 20,000 tonnes of lithium hydroxide per year. Under the agreement, E3 Lithium will continue to operate the Clearwater project and retain its IP, with technical and development support from Imperial in areas such as water and reservoir management. The agreement also includes access for E3 Lithium to freehold lands in the area, which are operated by Imperial. As part of the agreement, Imperial has agreed to invest CAD $6.35 million into E3 at a pre-paid price of CAD $1.86/warrant and the issuance of 3,413,979 warrants. Each warrant provides the holder the option to exercise the warrant for one common share of E3. The warrants are immediately exercisable, non-transferrable, expire in 24 months and are non-refundable. About E3 Lithium E3 Lithium is a lithium development company with 7.0 million tonnes of lithium carbonate equivalent (LCE) inferred mineral resources1 in Alberta and an NPV8% on its Clearwater Lithium Project of USD 1.1 Billion with a 32% IRR pre-tax and USD 820 Million with a 27% IRR after-tax1. Through the successful scale up its DLE technology towards commercialization, E3 Lithium’s goal is to produce high purity, battery grade, lithium products. With a significant lithium resource and innovative technology solutions, E3 Lithium has the potential to deliver lithium to market from one of the best jurisdictions in the world. About Imperial After more than a century, Imperial continues to be an industry leader in applying technology and innovation to responsibly develop Canada’s energy resources. As Canada’s largest petroleum refiner, a major producer of crude oil, a key petrochemical producer and a leading fuels marketer from coast to coast, our company remains committed to high standards across all areas of our business.

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Today, Agilent’s comprehensive and time-tested Spectroscopy portfolios (Molecular and Atomic) offer some of the most powerful and reliable solutions for diverse markets, such as: (Bio) Pharmaceutical Energy and chemical.

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