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-SNAM – PURCHASES 33% OF DE NORA FROM BLACKSTONE TO STRENGTHEN IN HYDROGEN TECHNOLOGIES
The company led by Marco Alverà has signed an agreement with the funds managed by Blackstone Tactical Opportunities (Blackstone) for the purchase of approximately 33% of Industrie De Nora, based on an enterprise value of 100% of approximately 1.2 billion .
The acquisition, which is expected to close in the first quarter of 2021 a downstream of the competent antitrust authorizations, it will take place with own funds.
The partnership with De Nora allows Snam to increase its exposure to the mega-trends of the energy transition, in particular technologies for the production of green hydrogen and for water treatment.
De Nora, in fact, is one of the major producers of electrodes, essential components for the production of alkaline electrolysers, and collaborates with fuel cell operators.
The company also holds a 34% stake in ThyssenKrupp Uhde Chlorine Engineers (TKUCE), a joint venture with ThyssenKrupp among the world leaders in water electrolysis, involved in several large projects for the production of green hydrogen.
De Nora is also a global leader in water treatment technologies
(disinfection and filtration) and for cathodic protection, both business subject of potential synergies with Snam for the activities of the subsidiary Snam4Environment, active in biomethane and in environmental and water services, and for gas transport.
De Nora generates revenues of over 500 million a year (60% in electrodes, 40% in water treatment), with EBITDA expected to be around 90 million in 2020 and growing average (CAGR) of 8% over the past three years.
The acquisition anticipates the launch of a new possible investment platform in the energy transition, with a focus also on hydrogen, of which Snam would be an anchor investor to increase its exposure to projects and technologies for the energy transition in a balanced and disciplined way. De Nora potentially represents the first asset of this platform.
Source : Banca Intesa Sanpaolo
Eastman and Gruppo Maip, a leading international plastics formulator and compound producer based in Turin, Italy, have announced a partnership to formulate new sustainable polymer solutions for automotive interior applications.
This will enable an exclusive portfolio of formulations based on Eastman’s Advanced Circular Recycling technology, offering a range of both biobased and molecular-recycled content solutions with Eastman Tritan Renew copolyester and Trēva Renew engineering bioplastic.al manager of specialty plastics.
Coca-Cola is partnering with Danish startup Paboco to develop a 100% paper bottle.
“Our vision is to create a paper bottle than can be recycled like any other type of paper, and this prototype is the first step on the way to achieving this,” says Stijn Franssen, R&D packaging innovation manager, Coca-Cola EMEA. “A paper bottle opens up a whole new world of packaging possibilities, and we are convinced that paper packaging has a role to play in the future.”
The first-generation prototype consists of a paper shell with a 100% recycled plastic closure and liner inside. The next step, Franssen, says, is to create a paper bottle without the plastic liner. Petrochemical SustainableSources Automotive
Franssen’s team is conducting extensive lab testing at The Coca-Cola Company’s Brussels-based R&D center to assess how the paper bottle performs, holds up and protects its contents while refrigerated and in other scenarios.
“We also reflect on how our consumers will react to this paper bottle,” Franssen adds. “Topics like when and where it could be sold and how it can be recycled are all considered. This is all part of our journey to find the most sustainable packaging solutions for people to enjoy our drinks in a way that is right for them, and that is right for our planet.”
Company has invested in the development of I’m greenTM products sourced from renewable sources and recycled content, while in the same period reducing the intensity of carbon emissions from its operations by 20 percent
Braskem, the largest polyolefins producer in the Americas and leading producer of biopolymers in the world, today announces its latest sustainability ambitions to significantly expand its efforts to eliminate plastic waste in the environment by 2030 and to achieve carbon neutrality by 2050. Petrochemical SustainableSources Automotive
In 2009, Braskem launched the company’s long-term sustainability goals for 2020, which emphasized Braskem’s commitment to providing solutions that address climate change. Braskem has invested in the development of I’m green TM products sourced from renewable sources and recycled content, while in the same period reducing the intensity of carbon emissions from its operations by 20 percent. In 2018, Braskem further committed to 100% of plastic packaging being reused, recycled, or recovered by 2040. As part of its evolving sustainable development strategy, Braskem today announces additional commitments to mitigate climate change, eliminate plastic waste and provide solutions for recycled products in its markets.
Croda International (Goole, UK) says it has entered a partnership with Sentient Science (Buffalo, New York), an asset management and software services company, for the recommended use of Croda’s Rewitec additives for wind turbine gearboxes and main bearings, said Chremweek. Petrochemical SustainableSources Automotive
Croda says that Sentient will calculate and demonstrate durability improvements imparted through using Croda’s Rewitec technology, to extend the lifetime of wind-turbine assets instead of costly part replacements.
“The competitive energy market is forcing energy producers to optimize maintenance practices and reduce operational expenses,” says Scott Gardiner, business development specialist/energy technologies at Croda. “Major correctives are the largest cost drivers in the wind energy market, specifically gearbox or main shaft replacement. The cost of this replacement can completely change the asset’s profitability during its lifetime.”
As MRC informed earlier, Nexam Chemical has received an order from an existing customer in the area of PET additives for deliveries to the USA. The customer is a market-leading manufacturer of PET foam.
Maire Tecnimont S.P.A. and Hera Group signed of a strategic agreement between Aliplast, Hera Group’s subsidiary, for the collection, recycling and conversion of plastics, and NextChem, Maire Tecnimont Group’s company, for the development of projects and technologies for the energy transition, said the company.
NextChem will provide technology and engineering, procurement and construction services to build a plant which will use proprietary innovative technology MyReplastTM for upcycling of plastic waste into high value-added polymers. Petrochemical SustainableSources Automotive
These partners are each leader in their respective sectors. Hera Group’s Herambiente unit – Italy’s pioneer in the treatment of all types of waste – has 90 plants with an important know-how in the management of the entire environmental chain, in which Aliplast contributes with a circular and integrated stronghold in plastic sector. Maire Tecnimont Group is a global leader in process engineering and strongly committed – through its subsidiary NextChem – to developing projects and technologies for the energy transition and circular economy.
Ascend Performance Materials has launched several new grades of its HiDura™ long-chain polyamides for engineered plastics, monofilaments and cable ties.
HiDura polyamide 610 and 612 are designed to provide exceptional dimensional stability and long life with enhanced resistance to chemicals, impact and abrasion.
Ascend, the largest fully integrated producer of PA66 resin, has developed multiple new grades of HiDura PA610 and 612 for use in automotive fuel system and brake line applications, cable ties for solar power systems, battery seals and monofilaments for brush bristles. Petrochemical SustainableSources Automotive
Senior Editor Samuel Wong discusses the challenges being faced by the paraxylene (PX) market in Asia as capacity continues to grow. Petrochemical SustainableSources Automotive
Producers struggle with squeezed margins
Heavy capacity expansions weigh on PX, PTA markets
Downstream polyester demand a major concern
Vietnam’s economy will grow by 2.4% in 2020 due to its swift fiscal and monetary actions to mitigate the economic fallout of the coronavirus pandemic, the International Monetary Fund (IMF) said on Wednesday.
“A strong recovery is expected in 2021. Growth is projected to strengthen further to 6.5% as normalisation of domestic and foreign economic activity continues,” said Era Dabla-Norris, mission chief to Vietnam and division chief in the IMF’s Asia and Pacific department. Petrochemical SustainableSources Automotive
“Fiscal and monetary policies are expected to remain supportive, although to a lesser extent than in 2020,” she said in a statement.
Vietnam’s fiscal response has largely been geared towards supporting vulnerable households and firms, Dabla-Norris said.
Japan and EU released textile and apparel retail sales data in September. Japan’s apparel retail sales have declined month-on-month since June, and the decline continued to expand in September, down 23.5% year-on-year. After a slight recovery in August, EU’s apparel retail sales moved down in September, down 12.6% compared with that in same period of last year. Petrochemical SustainableSources Automotive
- EU’s apparel retail sales dropped by 12.6% year-on-year and 6.3% month-on-month in September.
According to Eurostat retail data, EU retail sales fell 1.7% month-on-month but up 2.1% year-on-year in September. Among them, the retail sales of textile, clothing and footwear decreased by 6.3% month-on-month and 12.6% year-on-year.
With only 18% of plastic packaging recycled in the U.S. and Canada, this tool guides investors, brands, entrepreneurs and policymakers to make data-driven decisions and collaborate toward a circular future Petrochemical SustainableSources Automotive
Today, Closed Loop Partners’ Center for the Circular Economy released their U.S. and Canada Recycling Infrastructure and Plastic Waste Map, as part of their broader Advancing Circular Systems for Plastics and Packaging Initiative. The comprehensive visual tool brings to light the diversity of plastic waste and the volumes and flows by country and state, highlighting critical opportunities to recapture valuable plastics and re-incorporate them into manufacturing supply chains.
The analysis shows that the U.S. and Canada are sending 11.5 million metric tons of plastic packaging to landfill every year, with the recycling system currently only capturing 18% of packaging.
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