Green H2 -Biodegradable plastics 03-03-2023
Green H2 -Biodegradable plastics
Crude Oil Prices Trend
-Viridor launches formal cash offer for Quantafuel
The UK-based recycling and waste management company Viridor today announced a formal offer to acquire all of Norway-based Quantafuel’s outstanding shares for NOK 1.058million, or NOK 6.38 per share.
The offer follows from a strategic review announced by Quantafuel in October 2022, undertaken by the company ‘to assess the best options for the next stage of growth’, said Ann-Christin Andersen, chair of the board of Quantafuel. This included searching for potential strategic or financial partners in order to secure a short and long-term financing solution for the company. Green H2 -Biodegradable plastics
According to Quantafuel’s operational and financial update published today, the company is curently facing a short-term liquidity shortfall. To continue operations, it needed to secure additional funds before mid Q2 2023.
The present offer from Viridor is unanimously recommended by Quantafuel’s Board of Directors and management group unanimously supports and has agreed to recommend the offer. An offer document setting out the terms of the offer will be made available for shareholders by Viridor prior to the start of the offer period.
Viridor is one of the UK’s leading resource recovery and waste management companies. It operates the largest fleet of Energy-from-Waste (EfW) facilities and the largest multi-line polymers reprocessing plant in the UK. Green H2 -Biodegradable plastics
-bp launches plans for low-carbon green hydrogen cluster in Spain’s Valencia region
- Aims to make Valencia region a leader in green hydrogen production.
- Cluster to include world-scale green hydrogen production at bp’s Castellón refinery of up to 2GW of electrolysis capacity by 2030
- Supports transformation and decarbonisation of the refinery, together with tripling biofuel production.
- Transformation of Castellón could see bp invest up to 2 billion Euros.
bp today launched the green hydrogen cluster of the Valencia region (HyVal) at its Castellón refinery. Green H2 -Biodegradable plastics
Led by bp, this public-private collaborative initiative is intended to be based around the phased development of up to 2GW of electrolysis capacity by 2030 for producing green hydrogen at bp’s refinery.
HyVal is expected to play an instrumental role in decarbonizing the operations of bp’s Castellón refinery. Its transformation – including green hydrogen, biofuels and renewable energy – could see bp invest a total of up to 2 billion Euro in Castellon by 2030.
Green hydrogen – generated by the electrolysis of water using renewable power – will support decarbonization of the refinery’s operations, replacing its current use of ‘grey’ hydrogen generated from natural gas.
Its production of biofuels is expected to increase three-fold, to 650,000 tonnes a year 2030. Green hydrogen will also be used as a feedstock in biofuel production, specifically of sustainable aviation fuel (SAF). Green H2 -Biodegradable plastics
-A new industrial revolution: the European Green Deal for a decarbonised industry
On 1 February the European Commission published the Communication outlining the European Green Deal Industrial Plan for the zero net emissions era (Com(2023)62 final) (the “Green Industrial Plan”), whose objectives are decarbonisation by 2050 and its tools (i) a predictable and simplified regulatory framework; (ii) accelerated access to finance; (iii) improved skills; and (iv) open trade for resilient supply chains.
The European Commission is presenting this Green Industrial Plan as the “new industrial revolution”, which aims to become the great opportunity of this decade to invest in the clean energy economy and in the industry of the zero net emissions era.
A predictable and simplified regulatory framework
In order to establish the conditions for the development of the Green Industrial Plan, the European Commission’s proposal calls for the adoption of the following regulations:
- A Net Zero Industry Act, aiming to strengthen industrial manufacturing of key technologies within the EU, and simplifying the regulatory framework in order to:
- Set industrial capacity targets up to 2030:
- Determine the production capacity of key products to achieve climate neutrality; Green H2 -Biodegradable plastics
- Reduce the length of permitting procedures for different industrial processes;
- Streamlining procedures by establishing “one-stop-shop” type measures (i.e., a sole point of contact for investors and industrial stakeholders during the entire administrative process);
- Enable the Commission to call for European standards that promote rapid deployment of key technologies;
- Create regulatory sandboxes that allow for rapid experimentation and disruptive innovation to assess new technologies;
- Influence public action through the mechanisms of public procurement, concessions, or incentives for companies and end-users to use zero net emissions technology based on circularity and sustainability. Green H2 -Biodegradable plastics
-EY advises Combineering (DK) on its sale to Reconomy Group (UK)
Reconomy Group expands circular capabilities in Europe with strategic acquisition of Combineering.
Leading global circular economy business, Reconomy Group has acquired green tech development company, Combineering, a well-established and rapidly-growing provider of unique, science based recycling solutions with the aim of turning waste into an infinite resource. Green H2 -Biodegradable plastics
The deal has been completed on Tuesday, 28 February 2023.
Based in Birkerød, Denmark, Combineering has been developing specialised recycling solutions for four decades, with the aim of maximising recycling rates, minimising waste, reducing CO2 emissions, and closing the loop for its customers.
Their large scale, scientific and proprietary circular methods have been standardised and implemented across various industry sectors, providing full legal compliance and driving the best value for customers.
-The promise of pressolysis
B&M Longworth has succeeded in passing the first stage of acceptance in having its pressolysis process defined as a new recycling methodology by the British Standards Institute (BSI). Green H2 -Biodegradable plastics
The company’s multi-patented Deecom and Deecom Lite pressolysis systems have been used to successfully turn everything from carbon composites to baby diapers and PPE back into constituent polymers and the process is now being viewed as an extremely useful route to recovering valuable materials from waste streams.
“Deecom specifically uses ‘thermo-cyclic pressolysis’, in that we add heat and swings of pressure to interact with the polymers in question and achieve the desired result, without engaging the original component or fibre, thus reclaiming near-virgin quality materials,” explains company director Jen Hill. Green H2 -Biodegradable plastics
“We’ve spent decades developing and understanding Deecom and its capabilities and we’re now sure of what it is not – hydrolysis, solvolysis or pyrolysis.”
-German plastics, more turnover, less volumes
Converters fear the effect of higher costs on profitability, even as business appears to be keeping pace with inflation.
Last year, German plastics converters saw their turnover grow by +12.6% to almost 79 billion euros, but this increase was only determined by prices, with volumes of processed material decreasing by -3% to 13.6 million tons; with cost inflation having a negative impact on the profitability of companies in the sector.
The only positive note is the increase in the processing of recycled materials, increased by +9% to 2.4 million tons. Green H2 -Biodegradable plastics
The numbers were provided, as usual, by the German association of processors Gesamtverband Kunststoffverarbeitende Industrie e.V. (GKV).
Its president, Elena Furst (in the photo), has expressed strong concerns about the low profitability – due to the difficulty of transferring the higher costs downstream – and the high electricity and gas charges.
“If the cost situation does not improve this year – stated Furst – the consequences are inevitable: job cuts, reduced working hours and the transfer of production abroad”.
The sector is also suffering from the shortage of skilled labor and the uncertainty about the future conditions of the regulatory framework, both nationally and internationally.
Despite the difficulties, last year the number of processing companies recorded a slight increase (+1.3%) exceeding 3,000 units. The same evolution has affected employment, which now has 326,608 employees (+1.3% on 2021). Green H2 -Biodegradable plastics
The export share has also grown slightly and now represents 41.4% of total turnover, +2.6% more than the previous year. Sales abroad last year increased by almost 20% to 32.7 billion euros.
-SABS warns about unverified biodegradable plastics claims
National verification and standards organisation the South African Bureau of Standards (SABS) has warned against vague claims that plastics are environment-friendly or nonpolluting. Green H2 -Biodegradable plastics
It says manufacturers that wish to claim their plastic packaging is degradable need to subject the packaging to the relevant testing and certification requirements of the newly published South African National Standard (SANS) 1728.
The SANS 1728 sets out the requirements for the marking and identification of degradable plastics. Degradable plastics include, but are not limited to, biodegradable, compostable, oxo-biodegradable and water-soluble plastics.
Green H2 -Biodegradable plastics