Alterra, Freepoint sign licensing agreement

Alterra has announced that it has licensed its chemical recycling technology to a subsidiary of Freepoint Eco-Systems Holdings LLC for a proposed chemical recycling facility to be sited in the Gulf Coast region, marking its first licensing transaction in North America, said Recyclingtoday.

This 192,000-metric-ton-per-year facility will be among the largest advanced recycling plants in the world, with the potential to increase the capacity to 288,000 metric tons per year, according to the Akron, Ohio-based company.

Currently, Alterra operates an industrial-scale, fully continuous recycling facility in Akron that can process 20,000 metric tons of plastic per year. The company licenses its proprietary technology to convert end-of-life plastic into feedstock for new plastic products worldwide.

Freepoint announced plans in late 2021 to build an advanced recycling facility in Ohio that will convert scrap plastic into feedstock for use in the production of prime-quality plastic. The company broke ground on that plant, in Hebron, Ohio, in late 2022. It will span 25 acres and use an existing 260,000-square-foot warehouse. It will be able to recycle 90,000 tons of materials per year. Earlier in 2021, the company announced that it was constructing its first chemical recycling facility in Texas as part of a strategic partnership with Plastic Energy Ltd. and TotalEnergies.

The Gulf Coast facility the company is licensing Alterra’s technology for will recycle end-of-life plastic otherwise destined for landfills or incineration, producing ISCC Plus-certified outputs that will be sold exclusively to Shell under a supply agreement.

Phil Turley, general manager of plastic circularity at Shell, says, “Shell is delighted to be strengthening its existing relationships with Alterra and Freepoint. With the potential to recycle more than 190,000 [metric tons] of postuse plastic per year, this facility will support Shell in delivering more of the circular chemicals our customers want.”

Among the other licensing agreements Alterra has entered into globally is with a joint venture formed by Neste Oyj, an oil refining and marketing company based in Espoo, Finland, and Ravago, a recycler and distributor of polymers that is based in Luxembourg, for a facility in the North Sea Port in Vlissingen, the Netherlands.

We remind, Freepoint Eco-Systems LLC has announced a partnership with Alterra to develop a large pyrolysis-based chemical recycling facility in the US Gulf Coast Region. Though operational timing was not disclosed, this facility will have the capacity to process 190,000 tonnes/year of waste plastic, one of the highest volumes yet announced. The facility will utilise Alterra's proprietary thermochemical liquefaction process technology. Currently, Alterra operates a 20,000 tonnes/year pyrolysis facility in Akron, Ohio.

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ECI Group has signed license and engineering agreements for process technology and engineering design with a confidential Chinese client for two lines of ethyl-vinyl acetate (EVA) production using ECI Group's proprietary Hybrid Technology offering, said Hydrocarbonprocessing.

This technology is capable of producing 4000,000 tpy EVA total, each line producing 200,000 tpy. The plant will be part of the client's integrated project to be located in Guangxi Province, China. ECI Group will provide the technology, design, and training for the two lines, as well as support through commissioning, start-up, and production.

Repsol, the multi-energy company, as ECI Group’s partner, will provide its extensive technical, operational, and commercial expertise. Repsol has several LDPE, EVA, and EBA plants in its industrial complexes in Spain and Portugal and has over 40 years of experience producing award-winning polymer products in its high-pressure facilities.

ECI Group's Hybrid Technology offering is unique in the industry as it allows for production of EVA and other high-value copolymers at capacities of 200 kta and higher, which was previously only possible with tubular reactors. The Hybrid technology offers the higher capacities of tubular lines with the expanded product capability of autoclave lines. In addition, ECI’s various proprietary design features and enhancements contribute to the overall effectiveness of the process and result in higher production with lower operating costs.

While the client declined to provide a comment citing project confidentiality, they noted that they had reviewed a number of technology options and made the decision to select ECI Group’s hybrid technology for a number of important reasons including the unmatched product range, lower operating costs, the design built for future product development capabilities and the reputation of Repsol as a long-standing producer of high-quality products.

We remind, Repsol S.A. (Madrid, Spain), Naturgy and Reganosa are joining forces to develop a renewable hydrogen production center in Galicia, Spain. The project involves the installation of an electrolysis plant powered by 100% renewable energy on the grounds of the former Meirama thermal power plant in the municipality of Cerceda (A Coruna). With the promotion of this energy vector, the three companies reinforce their commitment to a fair energy transition.

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Repsol’s industrial segment saw its adjusted net income surge to EUR1.12bn in the fourth quarter from EUR267m in the same period of 2021 amid higher refining margins, said the ccompany.

Repsol obtained a net income of EUR4.251 billion in 2022, a year marked by uncertainty, volatility, and complex market dynamics due to the invasion of Ukraine. In 2022, Repsol invested EUR4.182 billion to advance its transformation, 40% more than the previous year, mainly in the Iberian Peninsula and the United States. To boost its multi-energy profile, it plans to allocate historic organic investments of more than EUR5 billion in 2023.

The company's integrated business model and the 2021-2025 Strategic Plan were key to a positive performance. Even so, the 2022 result - added to the EUR2.499 billion income in 2021 - still falls short of offsetting the losses in 2019 and 2020 (EUR7.105 billion).

The company has taken measures to ensure the purchasing power of its employees is maintained, implementing salary increases and extraordinary bonuses. It agreed with the unions a new Framework Agreement, retroactive to January 1, 2021. With that, the average remuneration in Spain increased by 9.4%, compared to the year before.
To help customers in an inflationary context, Repsol earmarked more than EUR500 million for additional fuel discounts at its service stations in Spain. The company was the first to implement these measures which are ongoing even after the end of the state rebate.

Repsol made an additional effort in 2022 to guarantee supply in Spain amid tight international markets. It allocated more than EUR2 billion to increase its inventories. Repsol's activity in 2022 resulted in the largest tax contribution in the Group's history, more than EUR17 billion, of which more than 70% was paid in Spain (12 billion). Repsol is the Ibex-35 company that pays the most taxes in the country.

We remind, Repsol S.A. (Madrid, Spain), Naturgy and Reganosa are joining forces to develop a renewable hydrogen production center in Galicia, Spain. The project involves the installation of an electrolysis plant powered by 100% renewable energy on the grounds of the former Meirama thermal power plant in the municipality of Cerceda (A Coruna). With the promotion of this energy vector, the three companies reinforce their commitment to a fair energy transition.

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Stepan’s Q4 operating income fell by 41.5% year on year to USD11.7m as sales volumes fell 17%, said the company.

Gross profit fell as the cost of sales rose at a higher pace than sales.

Surfactant and polymer operating income was "significantly impacted" by customer and channel inventory destocking, the company said.

Surfactant operating income was USD21.8m, down from USD32.4m in Q4 2021, primarily due to a 15% decline in global sales volume. Polymer operating income was USD3.0m, down from USD12.9m in Q4 2021, primarily due to a 23% decline in global sales volume, including a 21% volume decline in rigid polyols and a lower demand in the specialty polyols and phthalic anhydride (PA) businesses.

Stepan’s Specialty Products business reported operating income of USD6.6m, up from USD2.1m in Q4 2021, primarily due to improved margins and customer mix within the medium chain triglycerides (MCT) product line.

In 2023, Stepan's business will be challenged by continued elevated inflation and high interest rates, said CEO and president Scott Behrens. “We believe this macro environment could negatively impact consumer demand and construction-related activity which will affect both our Surfactant and Polymer businesses,” he said. Additionally, higher overall cost inflation, higher depreciation and pre-start up expenses associated with Stepan’s new site in Pasadena, Texas would challenge earnings growth in 2023, he said.

As MRC informed before, Stepan conducted planned maintenance at its 90,000 tonnes/year phthalic anhydride (PA) plant Millsdale, Illinois, US, from early October to end-October, 2020.

Stepan is a manufacturer of specialty and intermediate chemicals used in a wide range of industries. The company is based in Northfield, Illinois, USA. The company is also a manufacturer of surfactants, which are key ingredients in consumer and industrial cleaning formulations. In addition, the company is a supplier of polyurethane polyols used in the growing market for thermal insulation and the CASE industry (coatings, adhesives, sealants and elastomers).

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MEGlobal has nominated its March 2023 monoethylene glycol (MEG) Asian Contract Price (ACP) at USD860/tonne, up by USD20/tonne from its February ACP, said the company.

The price is on a CFR (cost and freight) Asia basis.

We remind, MEGlobal has nominated its January 2023 monoethylene glycol (MEG) Asian Contract Price (ACP) at USD820/tonne, up by USD20/tonne from the December ACP. The price is on a CFR (cost and freight) Asia basis.
Asia MEG market has bottomed out in December after China relaxed its COVID curbs, but the upcoming new capacities in China and India may weigh on the prices.

MEGlobal is a fully integrated supplier of monoethylene glycol (MEG) and diethylene glycol (DEG), collectively known as ethylene glycol (EG).

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