Technip Energies acquires Biosuccinium Technology from DSM for bio-sourced and fully biodegradable polymers production

Technip Energies acquires Biosuccinium Technology from DSM for bio-sourced and fully biodegradable polymers production

MOSCOW (MRC) -- Technip Energies announced the purchase of Biosuccinium technology from DSM, adding a technology solution to its growing Sustainable Chemicals portfolio, said Hydrocarbonprocessing.

This technology synergizes with recently developed proprietary bio-polymer technologies and provides a commercially referenced production of bio-based succinic acid (bio-SAc) that serves as feedstock for the production of polybutylene succinate (PBS).

PBS itself is fully biodegradable and, if based on bio-SAc, is an ideal bio-based sustainable packaging material for food contact applications. It addresses consumers and governments concerns for better materials with lower carbon footprints and environmental impacts.

The purchase includes a wide range of patent families and proprietary yeast strains, which have been demonstrated in production facilities of licensees at large scale. Biosuccinium technology will be the only technology for production of bio-based succinic acid to be licensed on the market.

Bhaskar Patel, SVP Sustainable Fuels, Chemicals and Circularity of Technip Energies, commented: “We are very pleased to acquire this proven technology from DSM. This addition to our growing sustainable chemicals portfolio will allow Technip Energies to license a solution for the production of a bio-sourced and biodegradable polymer, which has a 50% lower carbon footprint compared to fossil-based routes. Superior product properties, combined with best-in class sustainability performance, are key attributes in today’s consumer market. We shall leverage the whole PBS value chain, where we already license the technology for the polymerization of the bio-sourced monomers into PBS."

It was earlier said, Technip Energies and Agilyx announced today the launch of the TruStyrenyx™ brand, the only all-in-one solution for the chemical recycling of polystyrene. TruStyrenyx™ combines Agilyx’s pyrolysis process and Technip Energies purification technology, yielding a recycled styrene monomer with exceptional high purity. Styrene monomer is used to make numerous plastics and other polymers. It is one of the three primary components of ABS (acrylonitrile-butadiene-styrene), can make the pure polymer polystyrene, and is an ingredient in various synthetic rubbers.

BASF opens new production plant for fuel performance additives in Shanghai, China

BASF opens new production plant for fuel performance additives in Shanghai, China

MOSCOW (MRC) -- BASF has started producing fuel performance additives at its Pudong site in Shanghai, China, said the company.

The new plant addresses the increasing regional demand for fuel performance additives and brings greater supply security and flexibility to customers in Asia. The site is the latest addition to BASF’s global network, strengthening its local manufacturing footprint in Asia.

BASF’s multifunctional additive packages, known as KEROPUR® are well established in the market, providing the maximum possible engine cleanliness, improved fuel economy, and lower emissions. Due to the growing trend in the use of multifunctional additives in fuels, and the increasing interest in cleaner and more efficient products, the fuel additive market in Asia is expected to grow at a compound annual growth rate of more than 4% through 2032.

“This strategic investment shows our continuous commitment to the fast-growing markets in Asia. With the new capacity, we will be able to improve supply reliability, shorten transport time and hence boost delivery accuracy, and provide locally produced grades to our customers in Asia,” says Matthias Lang, Vice President, Business Management Fuel and Lubricant Solutions Asia Pacific.

An additional investment to offer customized solutions to Asia’s key markets is scheduled for completion by the first quarter of 2023.

As per MRC, BASF completed the installation and start-up of a state-of-the-art acrylic dispersions production line in Dahej, India, serving the coatings, construction, adhesives, and paper industries for the South Asian markets.

Dow receives CIO 100 award for digital manufacturing acceleration

Dow receives CIO 100 award for digital manufacturing acceleration

MOSCOW (MRC) -- Dow was honored with a CIO 100 Award for its Digital Manufacturing Acceleration (DMA) Program, said the company.

The US CIO 100 awards, now in its 35th year, recognize 100 organizations that are driving digital business growth through technology innovation. The award is an acknowledgement of strategic and operational excellence in IT.

Dow’s DMA Program was recognized for delivering innovative digital technology solutions that unlock company manufacturing data, leading to streamlined work processes that create value for the company’s employees, customers and businesses. The program accelerated the deployment of digital technologies and intuitive tools across Dow’s global manufacturing and maintenance areas, creating opportunities to improve safety, reliability, sustainability, agility and insights through data visibility.

The DMA program also includes innovative ways to securely integrate data while protecting intellectual property. For example, the use of private cellular networks in Dow manufacturing sites allows employees to collaborate in real time through secure video calls and instant messaging, improving both the speed and quality of work performed.

“The collaboration between Dow Operations and Information Technology has created a solid program focused on accelerating and supporting the progression of Dow’s digital priorities within manufacturing,” said John Sampson, senior vice president, Operations, Manufacturing and Engineering. “Dow’s DMA solutions are already generating tangible value and are focused on creating breakthrough growth for Dow by providing easy, enjoyable, and effective digital experiences for Dow employees and our customers."

This year’s CIO 100 Award winners were chosen by a team of external judges, many of them former CIOs. According to CIO, the winners “exemplify what it means to deliver business value through the innovative use of technology, creating competitive advantage in their organizations, improving business processes, enabling growth and improving relationships with customers."

As per MRC, Dow is cutting global polyethylene (PE) production rates by 15%. “Given continued global logistics constraints, including port and rail congestion in the US Gulf Coast and dynamic conditions in Europe, Dow is reducing operating rates across our polyethylene assets, resulting in temporarily lowering 15% of our global polyethylene nameplate capacity,” says the letter, dated 24 August. The letter says Dow expects the cutbacks to help balance high inventories at key global ports and packaging warehouses, particularly in the US Gulf Coast during August and September, the months when strong hurricanes are most likely to strike the region. Hurricane season, which lasts from June to November, has been quiet so far this year, although the National Oceanic and Atmospheric Administration (NOAA) predicted an above-average number of storms.

Lotte in dilemma over acquisition of Iljin Materials

Lotte in dilemma over acquisition of Iljin Materials

MOSCOW (MRC) -- Lotte Group appears to be agonizing over whether to continue pushing ahead with the acquisition of Iljin Materials, due to the seller's rigid stance on the valuation of the nation's second-largest copper foil manufacturer, said Koreantimes.

Iljin Materials' largest shareholder, Huh Jae-myeong, who is also the second-oldest son of Iljin Group Chairman Huh Chin-kyu, reportedly demanded potential buyers to pay at least 3 trillion won (USD2.2 billion) for his 53.3 percent stake in the copper foil producer. In contrast, Lotte Chemical is said to have offered less than 2.5 trillion won.

When Iljin Materials was put up for sale in May, its market cap was around 4.3 trillion won. Its deteriorating sales due to China's zero-COVID policy lockdown measures, and falling copper prices, however, dragged down its market cap below 3.3 trillion won this month.

"Iljin Materials' second-quarter earnings fell short of the market consensus," Samsung Securities analyst Chang Jung-hoon said. "Its revenue from copper foil fell 4 percent from the previous year, due to the falling copper price and decreasing sales in the wake of the global supply chain disruptions."

Amid the skeptical outlook, it has been considered unreasonable for Lotte Chemical to pay 3 trillion won for a 53.3 percent stake in Iljin Materials, even if the buyer takes into account the premium for managerial rights. In addition, Lotte Chemical is the only participant in the main bid to acquire Iljin Materials, as Bain Capital dropped out of the competition due to setbacks in fundraising, according to industry officials.

It also seems difficult for Lotte Chemical to give up on the acquisition, considering Lotte Group's ongoing efforts to focus more on its electric vehicle battery materials business rather than its unprofitable retail business. Earlier this year, Lotte Chemical tried to acquire PI Advanced Materials, the world's leading polyimide film maker, but it lost to Baring Private Equity Asia.

When Lotte Group Chairman Shin Dong-bin was given a special presidential pardon earlier this month, the conglomerate expressed its intention to foster the chemical business. "We will contribute to the improvement of Korea's competitiveness by fostering innovative businesses such as biotech, hydrogen energy and battery materials," the group said in a statement.

According to market tracker SNE Research, Iljin Materials ranked fourth last year in the global copper foil market share, following Korea's SKC, China's Watson and Taiwan's Chang Chun. If Lotte Chemical makes large-scale investments after its acquisition of Iljin Materials, the Korean firm may overcome its Chinese and Taiwanese rivals.

"Once the buyer of the 53.3 percent stake is selected by early next month, Iljin Materials is expected to unveil its plans for additional investments in North America and Spain," NH Investment & Securities analyst Ju Min-woo said.

During a press conference in May, Lotte Chemical said it would invest 4 trillion won in battery materials by 2030.

We remind, Lotte Chemical Corp will invest 10 trillion won (USD7.8 billion) to expand its hydrogen and battery materials businesses through 2030 in a bid to accelerate its decarbonization goals. The Seoul-based petrochemical producer is targeting annual sales of 5 trillion won each in its hydrogen and battery divisions by the end of the decade, it said in a statement. It will spend 6 trillion won on its hydrogen operations and 4 trillion won to boost battery materials output.

LG Chem carbon nanotube plant to become world largest CNT producer

LG Chem carbon nanotube plant to become world largest CNT producer

MOSCOW (MRC) -- LG Chem will build its fourth carbon nanotube (CNT)-manufacturing plant in Korea as part of efforts to strengthen its battery materials business, said Koreatimes.

The company said the new plant, which will be built at its Daesan Complex 80 kilometers southwest of Seoul, will become the world's largest single-line CNT manufacturing plant. "The new plant is part of LG Chem's initiative to gain a more competitive edge in the rapidly growing global CNT market focused on electric vehicle (EV) battery materials," the company said, adding that the new plant will have an annual production capacity of 3,200 tons.

LG Chem will start construction of the fourth plant in the first half of 2023 and expects the plant will begin operation in the second half of 2024. With four plants, LG Chem will be able to produce 6,100 tons of CNT annually.

CNT is a next-generation material offering electricity and thermal conductivity equivalent to copper and diamond, while its strength is 100 times that of steel. The material is expected to be increasingly used in batteries, semiconductor wafer trays, automotive components and surface heating elements.

According to LG Chem, the global demand for CNT is forecast to grow to 70,000 tons by 2030, from 5,000 tons in 2021.

Its CNT materials will be supplied as conductive additives to battery makers such as LG Energy Solution, with plans for use to be expanded to a broader range of industries, the company said.

"LG Chem is continuously increasing its sales from newly secured battery customers including LG Energy Solutions and is strongly committed to become a trustworthy world-class CNT supplier for global carmakers," said Noh Kug-lae, head of LG Chem's Petrochemical Business.

"We hope to cement our lead in the conductive additive market based on our competitive edge in self-developed manufacturing capabilities and excellent product quality and moving faster than our competitors."

We remind, LG Chem, a major South Korean producer of petrochemicals, has brought its acrylonitrile butadiene styrene (ABS) plant to 100% capacity in Yeosu, South Korea. Previously, the plant with a capacity of 900 thousand tons of ABS per year worked at 80-90% in May, at 100% in June and at 90% in July.