MOSCOW (MRC) -- Hyundai Oilbank and Haldor Topsoe have signed an MOU to jointly identify opportunities within blue and green hydrogen, waste plastic recycling, bio-refinery, eFuels, CCUS and other solutions to reduce carbon emissions, according to Hydrocarbonprocessing.
The MOU will support Topsoe in further optimizing its clean energy technologies and potentially enable Hyundai Oilbank to increase its low-carbon business and meet the company’s target that 70% of total profit should derive from eco-friendly business by 2030.
Both Topsoe and Hyundai Oilbank strive to mitigate climate change. Topsoe develops cutting-edge technologies within green hydrogen, green ammonia, eMethanol, and eFuels. Hyundai Oilbank has started a transformation of its production to significantly reduce carbon emissions in its customer offerings.
Under the MOU, the two parties will collaborate on developing sustainable and efficient solutions within a range of green energy solutions.
As MRC reported before, in October 2021, Dow (Midland, Michigan), the world's petrochemical major, and Haldor Topsoe partnered to promote the circular economy. About 300 million tons of plastic waste is produced every year on a global scale. The partnership between Dow and Topsoe marks a new initiative to efficiently convert waste plastics to circular plastics, keeping them out of the environment and responsibly reclaiming their value. Plans include Dow to proceed with the design and engineering for a 10,000 ton per year market development unit using Haldor Topsoe’s PureStepTM technology to purify pyrolysis oil feedstock derived from waste plastics for use in circular products.
We remind that in October 2021, Dow also announced several advancements in its efforts to prevent plastic waste, reduce greenhouse gas emissions and provide customers with recycled plastic products. The company says these advancements will help it to provide initial supply of fully circular polymers to customers starting in 2022.
According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 1,868,160 tonnes in the first nine months of 2021, up by 18% year on year. Shipments of all grades of ethylene polymers increased. At the same time, PP shipments to the Russian market were 1,138,510 tonnes in January-September 2021, up by 30% year on year. Supply of propylene homopolymer (homopolymer PP) and block-copolymers of propylene (PP block copolymers) increased, whereas supply of injection moulding statistical copolymers of propylene (PP random copolymers) decreased significantly.