Corteva, Bunge, Chevron partner to produce renewable fuels

Corteva, Bunge, Chevron partner to produce renewable fuels

Chevron Corp is collaborating with agribusiness firms Corteva Inc and Bunge Ltd to produce renewable fuels from canola crops, the companies announced.

As part of the collaboration, the companies will introduce winter canola hybrids in the southern United States. Bunge Chevron Ag Renewables, a joint venture between Bunge and Chevron, will purchase the harvested winter canola crop from farmers and use the resulting oil to create renewable fuel.

U.S. state programs, led by California's Low Carbon Fuel Standard (LCFS), reward fuel producers for decarbonizing by producing renewable fuels, and the producers have responded by ramping up production of such "greener" fuels.

The transportation sector accounts for about a quarter of the United States' greenhouse gases. The U.S. Energy Department projects that renewable diesel will be about 7% of the overall diesel pool by 2030; it is currently just 5%.

By introducing the winter canola crop, the companies said they hope to provide a sustainable crop rotation option and create a new revenue stream for farmers.

We remind, Chevron Corp. posted a record USD36.5 bn profit for 2022 that was more than double year-earlier earnings but fell shy of Wall Street estimates, undercut by an asset writedowns and a retreat in oil and gas prices.
The second largest U.S. oil producer's adjusted net profit for 2022 beat by about USD10 billion its previous record set in 2011. But USD1.1 B in writedowns in its international oil and gas operations in the fourth quarter left earnings short of forecasts for adjusted net profit of USD37.2 B.

mrchub.com

EU clears Agrofert acquisition of Borealis NITRO

EU clears Agrofert acquisition of Borealis NITRO

The European Commission has approved AGROFERT Group’s acquisition of the nitrogen business of Borealis AG (Borealis NITRO), the Commission said in a statement on Monday.

The transaction, announced last year, will raise no competition concerns in the European Economic Area. In particular, the Commission found that the transaction would not significantly reduce competition in markets for:
- Nitrogen fertilisers
- AdBlue non-toxic liquid used as exhaust fluid for diesel engines
- Technical nitrogen products such as aqueous ammonia and weak nitric acid

Furthermore, the transaction does not raise concerns in relation to the distribution of nitrogen fertilisers in the Czech Republic and Slovakia, the Commission said.

Borealis NITRO encompasses all nitrogen activities of Austria-based chemicals producer Borealis AG. AGROFERT is a Czech Republic-based nitrogen fertilizer company.

We remind, Borealis, one of the world’s leading providers of advanced and circular polyolefin solutions and a European market leader in base chemicals, fertilizers and the mechanical recycling of plastics, has received a binding offer from AGROFERT, a.s. for the acquisition of Borealis’ nitrogen business including fertilizer, melamine and technical nitrogen products. The offer values the business on an enterprise value basis at EUR 810 mn.

mrchub.com

NOVA Chemicals commercializes mechanically recycled polyethylene

NOVA Chemicals commercializes mechanically recycled polyethylene

NOVA Chemicals, a leading supplier of polyethylene (PE) for food packaging, delivered a commercialized FDA-compliant high-density recycled PE (rPE) resin to market, said the company.

The new grade is its first mechanically recycled food-contact resin and is part of the Company’s recently announced SYNDIGO rPE portfolio.

The resin, SYNDIGO rPE-0860-FC, is a lower-emission option compared to virgin PE and enables converters and brand owners to incorporate rPE into food packaging products. It is sourced from natural high-density PE milk jugs and is ideal for various types of flexible and rigid food packaging.

“Adding the first food-contact rPE to the SYNDIGO portfolio increases rPE usage and underscores our commitment to eliminating plastic waste and reducing the carbon footprint of plastic packaging,” said Alan Schrob, NOVA Chemicals director of mechanical recycling. “Achieving the high level of performance needed for use in food contact puts this recycled resin in a field with few others and allows our customers to target the most demanding applications."

We remind, NOVA Chemicals Corporation announced the establishment of NOVA Circular Solutions, a new line of business focusing on lower-emission, recycled solutions that will help reshape a better, more sustainable world. NOVA Circular Solutions will be home to the SYNDIGOTM brand, the company’s newest portfolio of recycled polyethylene (rPE). NOVA Circular Solutions is led by a team of experts in plastics development, recycling technology, additive science, packaging design, and regulatory compliance. It is headed by Alan Schrob, recycling director, who has nearly 30 years of experience in plastics, manufacturing, health, safety, and the environment.

mrchub.com

Unigel and thyssenkrupp nucera sign Memorandum of Understanding to increase production capacity of green hydrogen plant

Unigel and thyssenkrupp nucera sign Memorandum of Understanding to increase production capacity of green hydrogen plant

Thyssenkrupp nucera and Unigel have signed a Memorandum of Understanding (MoU) to increase the capacity of the green hydrogen plant that Unigel is developing in Bahia, Brazil, from 60 MW to 240 MW of water electrolysis, said the company.

The signing ceremony was held in Belo Horizonte, during the visit of the German Federal Minister for Economic Affairs and Climate Action, Dr. Robert Habeck. This is a key step for both companies continue their good collaboration to accelerate the green transformation through the development of the green hydrogen economy worldwide.

Unigel's facility will be the first industrial-scale green hydrogen plant in Brazil. It is planned to be delivered at the end of the year. In the first phase, the plant will have a total water electrolysis capacity of 60 MW with thyssenkrupp nucera standard electrolyzers and an initial production capacity of 10,000 tons/year of green hydrogen and 60,000 tons/year of green ammonia. Unigel is one of the largest chemical companies in Latin America and the largest producer of nitrogen fertilizers in Brazil. The new plant will be an important stimulus for the development of the entire region.

“Unigel's green hydrogen plant will be the first on an industrial scale in Brazil. We continue to negotiate strategic partnerships to enable the new phases of the project”, said Roberto Noronha Santos, CEO of Unigel. The green hydrogen and green ammonia will be offered to customers seeking to decarbonize their production chains such as the steel industry, oil refineries and ammonia producers. Green ammonia will also be used in Unigel's value chain, as it is a raw material for the production of fertilizers and acrylics.

"Brazil has not only set ambitious climate protection plans, but is also implementing them. This includes, in particular, consistently exploiting the opportunities offered by green hydrogen. This is because Brazil is one of the nations predestined to take on a key role in the green transformation by consistently exploiting the potential in renewable energies. With our technologies for the development of a hydrogen economy, we are making our contribution to paving the way for the green transformation," says Dr. Werner Ponikwar, CEO and Chairman of thyssenkrupp nucera AG & Co. KGaA.

Federal Minister Dr. Robert Habeck is traveling to Brazil and Colombia from March 11 to 15. The aim of the trip is to strengthen economic relations and climate cooperation with Brazil and Colombia. Brazil and Colombia play a key role in global climate protection. This year's EEBA (German-Brazilian Business Meeting) will take place in Belo Horizonte in the state of Minas Gerais in Brazil, where Federal Minister Dr. Robert Habeck will hold talks with representatives from politics and business. Participation in the signing ceremony is part of the official agenda of the delegation.

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.

mrchub.com

LyondellBasell announces decision to acquire Mepol Group

LyondellBasell announces decision to acquire Mepol Group

LyondellBasell and Mepol Group announced they have entered into a definitive agreement for LyondellBasell to acquire Mepol Group, a manufacturer of recycled, high-performing technical compounds located in Italy and Poland, consisting of Mepol S.r.l. and its subsidiaries Polar S.r.l. and Industrial Technology Investments Poland Sp.z.o.o., said the company.

"This acquisition demonstrates LyondellBasell's commitment to move the circular economy forward," said Torkel Rhenman, executive vice president of Advanced Polymer Solutions. "With Mepol Group's expertise in sustainable compounds and LyondellBasell's scale, we will enhance our CirculenRecover and other sustainable solutions for our customers."

Mirco Melato, CEO of Mepol commented, "We are delighted to join forces with LyondellBasell, an industry leader we have admired for many years. LyondellBasell shares our commitment towards sustainability and with its scale and resources, the combined business will be better positioned to address customer needs."

LyondellBasell continues to pioneer circular and low carbon solutions for its customers. The company began engineering work for a new advanced recycling plant at its Wesseling, Germany site in November last year. LyondellBasell has existing mechanical recycling facilities in the Netherlands and Belgium and is developing new plastic waste sorting and recycling plants in Houston, Germany, China and India, which was announced during the fourth quarter of 2022.

The transaction closing is subject to regulatory approval and other customary closing conditions. During this period, Mepol Group will continue to operate on a standalone basis. Jones Day and Wardynski & Partners served as LyondellBasell's legal advisor on the transaction. Special Affairs S.r.l. served as Mepol Group's financial advisor and Gitti & Partners is acting as its legal advisor.

We remind, LyondellBasell announced that PetroChina Jilin Petrochemical Company will again license LyondellBasell’s polyethylene technology at their facility located in Jilin City, Jilin Province, P.R. of China. The newly licensed technology will comprise of LyondellBasell’s leading high-pressure Lupotech process technology which will be used for both a 100 kiloton per year (KTA) Autoclave and a 300 KTA Tubular line. Both production trains will produce mainly low-density polyethylene (LDPE) with ethylene vinyl acetate copolymers (EVA). Furthermore, an additional 400 KTA Hostalen “Advanced Cascade Process” (ACP) line for the production of high density polyethylene (HDPE) will be built at the same time.

mrchub.com