Origin Materials, Terphane partner to develop biaxially oriented PEF

Origin Materials, Inc., the world’s leading carbon negative materials company with a mission to enable the world’s transition to sustainable materials, and Terphane, part of Tredegar Corporatio, a global leader in specialty PET polyester films (“BOPET”), announced today a strategic partnership to produce sustainable, high-performance bio-polymer films, said the company.

As part of the partnership, Terphane signed a multi-year capacity reservation agreement to purchase the advanced bio-polymer PEF for use in film applications, including food and beverage packaging and high-value industrial applications. BOPEF is biaxially oriented PEF, and BOPET is biaxially oriented PET. These stretched polymer films are valued for their strength, transparency, barrier properties, and electrical insulation.

“We are pleased to partner with Terphane, a trusted global leader in films with expansive customer and partner relationships,” said Rich Riley, Co-CEO of Origin Materials. “We are thrilled to work together to develop advanced, performance-enhanced products that help to enable a net zero material economy. This partnership represents further progress in Origin’s mission to enable the world’s transition to sustainable materials.”

According to Marcos Vieira, global director of R&D for Terphane, “The development of this film will be critical to our efforts to meet this new global demand for sustainable flexible packaging solutions. The film is partially made from PEF and has all the traditional properties of a regular PET film, including post-consumption recycling. In addition, PEF provides an excellent thermal resistance and superior barrier performance, extending the shelf life of the packaged products.” Vieira adds that initial tests in the U.S. proved the material works perfectly in extrusion lines.

Origin Materials’ patented technology platform represents a potential breakthrough in the commercialization of cost-competitive and low-carbon PEF. Made from furandicarboxylic acid (“FDCA”), the primary precursor to PEF, Origin PEF is a polymer with an attractive combination of sustainability and performance characteristics for packaging including enhanced barrier properties. Origin’s PEF is expected to be 100% plant-based, fully recyclable, have attractive unit economics, and to offer a significantly reduced carbon footprint, with superior strength, thermal properties, and barrier properties compared to today’s widely used petroleum-based materials.

We remind, Origin Materials, a leading carbon negative materials company with a mission to enable the world’s transition to sustainable materials, and Husky Technologies, a pioneering technology provider enabling the delivery of essential needs to the global community, announced a milestone in the commercialization of PET (polyethylene terephthalate) incorporating the sustainable chemical FDCA (furandicarboxylic acid) for advanced packaging and other applications.

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LyondellBasell Industries has announced its financial results for the second quarter of 2023, said the company.

The company reported a net income of $715 million, equivalent to $2.18 per diluted share. This figure excludes identified items of $86 million, which impacted earnings by $0.26 per share. The company’s EBITDA for the quarter was $1.4 billion, or $1.5 billion excluding identified items.

During the second quarter, LyondellBasell’s global olefins and polyolefins margins experienced modest improvement due to lower feedstock costs in the U.S. and Europe. However, this increase was partially offset by planned maintenance at the company’s existing assets. Despite a decline from previous highs, refining margins remained above long-term averages.

The company generated $1.3 billion in cash from operating activities during the quarter, with a cash conversion rate of 103% over the last twelve months. LyondellBasell’s available liquidity at the end of the quarter was $6.6 billion. The company reinvested $300 million in the business and returned $508 million to shareholders through dividends and share repurchases.

LyondellBasell’s Value Enhancement Program is progressing ahead of schedule, leading to an increase in the program’s near-term target. The program now aims to deliver $150 million of net income and $200 million of recurring annual EBITDA by the end of 2023. Additionally, the company has extended its refining operations until at least the first quarter of 2025 as part of its sustainable growth strategy.

Despite ongoing economic uncertainty and soft demand, LyondellBasell remains committed to its long-term strategy. The company expects average operating rates of 85% for North American olefins and polyolefins assets and 75% for European assets in the third quarter, in line with global market demand.

We remind, Lyondell Basell Industries said on Wednesday that it plans to delay its refining business exit from year-end 2023 to no later than the end of the first quarter 2025. The company said in April it would close its Houston refinery by the end of 2023 after two failed attempts to sell the plant, and the closing of Lyondell's five U.S. refineries in the past two years.

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Trinseo, a specialty material solutions provider, and its affiliate companies in Europe announced today a price increase for all polystyrene (PS), ABS and SAN grades, said the company.

Effective August 1, 2023, or as existing contract terms allow, the prices for the products listed below will increase as follows:

STYRON™ and STYRON™ X-TECH general purpose polystyrene grades (GPPS) by +125 Euro per metric ton
STYRON™ and STYRON™ A-TECH, STYRON™ C-TECH and STYRON™ X- TECH high impact polystyrene grades (HIPS) by +125 Euro per metric ton
MAGNUM™ ABS resins by +55 Euro per metric ton
TYRIL™ SAN resins by +85 Euro per metric ton

We remind, Trinseo, a specialty material solutions provider, announced the inauguration of its polycarbonate (PC) dissolution pilot facility in Terneuzen, the Netherlands. The new pilot facility is a major step in Trinseo’s commitment to sustainability, part of the journey in realizing the company’s sustainability goals. The guests of honor at the inauguration ceremony included Jo-Annes de Bat, Provincial Executive (responsible for regional economy) of the Netherlands.

Trinseo, a specialty material solutions provider, partners with companies to bring ideas to life in an imaginative, smart and sustainably focused manner by combining its premier expertise, forward-looking innovations and best-in-class materials to unlock value for companies and consumers.

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In June, the European chlorine production reached 597,178 tonnes. With 19,906 tonnes, the June 2023 average daily production was 0.8% lower than in the previous month (May 2023: 20,065 tonnes) and 12.5% lower than in June 2022 (22,759 tonnes), according to European chlor-alkali industry association Euro Chlor.

With 207,417 tonnes, the June 2023 caustic soda stocks were 22.5% lower than in the previous month (May 2023: 267,745 tonnes) but 14,363 tonnes above the level of June 2022 (193,054 tonnes).

We remind, Olin shut the 835,000 metric tons per year unit July 12, citing equipment failures, according to its chief customer, US polyvinyl chloride (PVC) producer Shintech. Olin announced in June that the VCM plant had been restarted but was running at reduced rates.

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Thyssenkrupp Uhde will support the project OFFSET consortium led by Netherlands-based project developer SwitcH2 B.V. and including partners BW Offshore Norway AS (BWO), MARIN, TU Delft, and Strohm, said Hydrocarbonrocessing.

The consortium is developing an industrial scale floating green hydrogen and ammonia project, based on the proven concept of a floating production and offloading vessel (FPSO).

“The green transformation is the biggest challenge humanity has ever faced, and we are proud to be one of the transformation enablers with our solutions and innovations at thyssenkrupp Uhde”, says Dr. Cord Landsmann, CEO thyssenkrupp Uhde. “To stop climate change, we have developed technologies that make sustainability feasible for businesses, reduce the carbon footprint of industrial value chains, and accelerate the growth of renewable energy. This is exactly what motivated us to develop our green ammonia technology.”

The collaboration between the OFFSET Project group and thyssenkrupp Uhde marks a significant milestone in the pursuit of sustainable and environmentally friendly industrial practices. Modern engineering and cutting-edge technology are combined in the proposed FPSO ammonia plant to produce a modular and adaptable solution that will shape the future of clean offshore ammonia manufacturing.

In March 2023, SwitcH2 B.V. announced it had received Approval in Principle from DNV on its design principles for an FPSO which will produce ammonia offshore solely from renewable sources of energy. As part of the Approval in Principle process, BWO developed the topside arrangement, hull, and mooring system design for the FPSO with the engagement of thyssenkrupp Uhde via a Technical Concept Study for the ammonia plant based on thyssenkrupp’s uhde ammonia synthesis technologies.

We remind, BASF and thyssenkrupp Uhde announced their cooperation in the marketing and further development of catalyst and process design for thyssenkrupp Uhde’s leading EnviNOx technology for N2O and NOx abatement. BASF will supply its high-performance catalysts to thyssenkrupp Uhde, enabling their customers to reduce greenhouse gas emissions even more effectively. EnviNOx reliably removes more than 99% of all N2O and NOx emissions, as at BASF’s site in Ludwigshafen, where a new unit successfully started up in the second half of 2022.

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