MOSCOW (MRC) -- Solvay Peroxides’ plant in Portugal has partnered with a local biotech company for the on-site production of microalgae that will capture the equivalent of all its CO2 emissions, said the company.
The ALGATEC Eco Business Park project has been designed to produce and harvest microalgae for various products and applications, with the enormous benefit that, in the process, the harvested microalgae capture and use CO2. The Portuguese Algae for Future (A4F) biotech company and investor LusoAmoreiras initiated this project, which is under development at Solvay’s Peroxides site in Povoa (Portugal).
This is good news for Solvay, and in particular for the Group’s commitment on greenhouse gas emissions. Today, Solvay’s Povoa site emits carbon dioxide via its steam generator. When the ALGATEC project will be fully up and running, the microalgae production is expected to capture about 2,000 tons of carbon dioxide, which will correspond to more than Povoa’s total emissions. Therefore, as early as 2020, the Povoa plant is set to become a CO2-neutral installation.
“The impact of the ALGATEC project’s co-localization with Solvay’s operations in Povoa is great,” says Arlindo Carvalho, Solvay Povoa’s Production & Energy Manager. “The microalgae production platform adds quite innovative technologies, generates highly qualified jobs and enhances synergies. Even more relevant, though, is having a partner company capable of capturing and using all of our direct CO2 emissions. This is a wonderful example of collaboration at work, enabling Povoa to become a zero-CO2 emission site."
ALGATEC is currently exploring an initial area of 4,000 square meters, which corresponds to about 30 cubic meters of culture of a species of microalgae called Nannochloropsis. At project completion in August 2020, the 14 ha production area, microbiology laboratory and industrial biorefinery will become the largest microalgae production platform in Europe.
As MRC informed earlier, Solvay announces that its subsidiary Solvay Finance SA will exercise its first call option on its EUR700 million hybrid bond after having notified the Luxembourg Stock Exchange where the bond is listed.
Solvay is an advanced materials and specialty chemicals company, committed to developing chemistry that addresses key societal challenges. Solvay innovates and partners with customers worldwide in many diverse end-markets. Its products are used in planes, cars, batteries, smart and medical devices, as well as in mineral and oil and gas extraction, enhancing efficiency and sustainability. Its lightweighting materials promote cleaner mobility, its formulations optimize the use of resources, and its performance chemicals improve air and water quality.
Solvay is headquartered in Brussels with around 27,000 employees in 62 countries. Net sales were EUR10.3 billion in 2018, with 90% from activities where Solvay ranks among the world's top 3 leaders, resulting in an EBITDA margin of 22%.
MRC