Axalta schedules fourth-quarter and full-year 2022 earnings conference call

Axalta schedules fourth-quarter and full-year 2022 earnings conference call

MOSCOW (MRC) -- Axalta Coating Systems will release its fourth-quarter and full-year 2022 financial results after the close of trading on Wednesday, January 25, said Coatingsworld.

The release and supporting materials will be posted to the Investor Relations portion of In addition, the company will host a conference call at 9:00 a.m. ET on Thursday, January 26. Chris Villavarayan, Chief Executive Officer and President, and Sean Lannon, Chief Financial Officer, will review the company's financial performance for the period. A live webcast of the conference call will be available here. A replay of the webcast will be posted shortly after the call and will remain accessible through January 26, 2024.

We remind, Axalta, a leading global supplier of liquid and powder coatings, broke ground for construction of a state-of-the-art coatings facility in Jilin City, Jilin Province, North China. The 46,000-square-meter new plant will produce mobility coatings to support growing customer demand in China for light vehicles, commercial vehicles, and automotive plastic components. "Our new plant in Jilin is another building block supporting our ambitious growth strategy for our mobility business in China," said Nicolas Franc de Ferriere, Vice President, Mobility, Asia Pacific at Axalta.

Germany government is moving ahead with plans to set up a single-use plastic fund

Germany government is moving ahead with plans to set up a single-use plastic fund

MOSCOW (MRC) -- Germany's government is moving ahead with plans to set up a “single-use plastic fund” (Einwegkunststoff-Fond), with an estimated revenue of up to EUR450m/year, to be raised through an annual levy on manufacturers of single-use plastic products, said Mondaq.

The fund would help municipalities pay for the “necessary costs for waste management measures, cleaning of public spaces and awareness-raising measures”, according to the draft legislation debated in the country’s lower legislative house on Thursday. It would be administered by Germany’s federal environmental agency, the Umweltbundesamt.

The obligation for manufacturers to "bear certain costs" would help “manage plastics more sustainably along the value chain, combat environmental pollution and promote cleanliness of public space”, according to the draft law.

Specific annual levy rates and other criteria would be set by statutory regulation. Payments from the fund to municipalities could start in 2025.

The legislation is in line with a 2019 EU directive on the reduction of the impact of certain plastic products on the environment.

We remind, single-use plastic plates, cutlery and a host of other items are set to be banned in England from October, the Government has said. The Department for the Environment said that a new ban will also cover single-use plastic bowls, trays as well as certain types of polystyrene cups and food containers, as the Government seeks to curb the “devastating” impact of plastic on the environment. Department officials said that England uses around 2.7 billion items of single-use cutlery per year, with only 10% recycled.

Topsoe signs agreement on green ammonia plant in China

Topsoe signs agreement on green ammonia plant in China

MOSCOW (MRC) -- Topsoe has been chosen by Mintal Hydrogen Energy Technology (Mintal Hydrogen) as technology provider for a new green ammonia plant in Baotou, Inner Mongolia, China, said the company.

The new plant will be the first dynamic green ammonia plant in China. The first phase will have a capacity of 1800 tpd with expected start of production in 2025. The green ammonia will replace app. 850 000 t of coal and help reduce more than 2 million t of CO2 from being emitted to the atmosphere every year.

Topsoe, a global leader in carbon emission reduction technologies, has been chosen by Mintal Hydrogen to provide technology to the first dynamic green ammonia plant in China. The dynamic green ammonia plant is Topsoe’s first Power-to-X project in China and includes Topsoe’s process licensing, engineering design package, proprietary equipment, and catalysts.

Dajun Yang, Managing Director China, Topsoe, said: “We are thrilled to be chosen for this amazing project by Mintal Hydrogen, and we look forward to support with our know-how and hardware. Being chosen to contribute to this ground-breaking project is clear evidence of our ability to deliver state of the-art solutions and to support the energy transition and reduction of greenhouse gas emissions also in China.”

Mr. XiaoLong Fu, General Manager, Mintal Hydrogen, said: “We are excited to partner with Topsoe, as they are the leading provider of technology for ammonia production and low carbon solutions in general. Establishing a commercial size green ammonia plant in Baotou, really is a breakthrough in China for producing carbon neutral fuels and chemicals. Naturally, we are very pleased, that we are now able to start construction of this landmark project, that will support China’s move to a greener economy.”

Topsoe will provide the plant’s dynamic ammonia technology to secure optimal production and adapt to the inherent fluctuations in power output from wind turbines. The clean power from wind turbines will be connected directly to the electrolysis unit making it more cost-effective than if involving a hydrogen storage.

We remind, Topsoe to move ahead on setting up solid oxide electrolyser plant in Denmark, said the company.
Topsoe has announced that its board has approved the final investment decision (FID) to start the construction of the "world's largest" solid oxide elctrolyser cell (SOEC) electrolyser manufacturing plant in Herning, Denmark.

Perstorp received funding from EU Innovation Fund

Perstorp received funding from EU Innovation Fund

MOSCOW (MRC) -- Perstorp has received funding from the EU Innovation Fund for a joint initiative for large-scale production of sustainable methanol, said the company.

Project Air, developed by Perstorp and energy major Uniper was awarded €97m by the Commission’s European Climate, Infrastructure and Environmental Executive Agency (CINEA) to develop technology enabling carbon neutrality in the chemicals industry.

Capacity for Project Air will be built at Perstorp’s existing facilities in Stenungsund, Sweden, strengthening the sustainable chemicals cluster in the region. This initiative will combine carbon capture and utilisation (CCU) processing for converting carbon dioxide (CO2), residue streams, renewable hydrogen and biomethane and apply this to the first large-scale sustainable methanol plant of its kind.

The project is expected to lead to a 123% relative decrease in greenhouse gas (GHG) emissions avoidance, in comparison with conventional methanol synthesis. Currently, 52 projects across 16 countries are supported by the Innovation Fund aiming to meet the European Green Deal’s target of carbon neutrality.

We remind, Perstorp moves to make more eco-friendly polyols at Swedish site. Perstorp, a Sweden-based speciality chemicals provider, is transforming a huge majority of the polyols generated at their largest production facility in Perstorp, Sweden, to 'Pro-Environment' products. It will convert all base polyols prepared at its Perstorp unit - neopentyl glycol (Neo), pentaerythritol (Penta), and trimethylolpropane (TMP) - to 'Pro-Environment'.

Unigel to invest up to USD1.5 bln in 'green hydrogen' production

Unigel to invest up to USD1.5 bln in 'green hydrogen' production

MOSCOW (MRC) -- Brazilian chemical maker Unigel said it will invest up to USD1.5 billion in its complex in the state of Bahia to produce so-called green hydrogen, the first in the country to do so on an industrial scale, said Reuters.

The plant, located in the city of Camacari, should have the first of three phases inaugurated by the end of 2023, expanding capacity until it achieves production of 100,000 tonnes of hydrogen by 2027, or 600,000 tonnes of one of its derivatives, ammonia.

The green hydrogen, obtained from the conversion of wind or solar energy, will use electrolysers to be supplied by Thyssenkrupp Nucera.

We remind, Unigel announced plans to build a green hydrogen plant in the northeastern state of Bahia, with an initial investment of USD120 million and the goal of making it one of the largest of its kind in the world. The plant will starts its production planned for late 2023. At this moment, Unigel's integrated green hydrogen and green ammonia plant is expected to be the largest in the world. In the first phase of the project, Unigel installs three 20 MW standard electrolyzers from thyssenkrupp nucera, adding up to a total capacity of 60 MW.