Hexpol appoints new CEO president

Hexpol appoints new CEO president

The Board of Directors of HEXPOL AB has appointed Klas Dahlberg as CEO and President of the company. He will take up the position latest by 1 July 2024, said the company.

Klas Dahlberg currently holds the position as Head of Business Area NIBE Climate Solutions. He has been with NIBE since 2016 and he has been responsible for NIBE Climate Solutions since 2018. Prior to joining NIBE, he had a successful international career spanning over a 30-year period with the Scania group, with his last position being responsible for the division of Buses & Coaches. Klas has lived and worked in Germany for many years. He holds a M.Sc. in Engineering from Lund University, Sweden.

“It is a pleasure to welcome Klas to HEXPOL. Klas’ substantial international experience, tested leadership skills and successful career will be of high value to the continued strategic development of HEXPOL, with focus on further expansion through acquisitions, organic growth and development of advanced polymer solutions with improved sustainable footprint”, says Alf Goransson, Chairman of HEXPOL AB.

“I am looking forward to, together with all employees at HEXPOL, create value for customers, shareholders and other stakeholders. I am grateful for the trust shown by the Board of Directors and humble before the task to continue the successful journey led by my predecessor, Georg Brunstam”, says Klas Dahlberg.

We remind, HEXPOL Middlefield Has Achieved The International Sustainability And Carbon Certification (ISCC PLUS) As A Rubber Compounding Processing Unit With Mass Balance Chain Of Custody. The International Sustainability & Carbon Certification (ISCC) is a certification program for the Circular Economy that focuses on the verification and traceability of sustainable materials. ISCC is globally recognized as the standard of choice for industry sustainability certifications.

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Disruptions in Red Sea unlikely to have large effects on oil, LNG

Disruptions in Red Sea unlikely to have large effects on oil, LNG

The disruption to energy flows in the Red Sea is unlikely to have large effects on crude oil and LNG prices as vessel redirection opportunities imply that production should not be directly affected, Goldman Sachs said, said Hydrocarbonprocessing.

Oil prices advanced on Tuesday, extending gains from the previous session, as attacks by Yemen's Iran-aligned Houthi militants on ships in the Red Sea disrupted maritime trade and forced companies to reroute vessels.

Oil major BP temporarily paused all transits through the Red Sea and oil tanker group Frontline said on Monday its vessels would avoid passage through the waterway, signaling that the crisis was broadening to include energy shipments.

"We do estimate that a hypothetical prolonged redirection of all 7 million barrels per day of gross (Northbound and Southbound) oil flows would raise spot crude prices relative to long-dated prices by $3-4/per barrel," the investment bank said in a note dated Monday.

We remind, Bain Capital-backed biofuels refiner EcoCeres has tied up with a waste management firm backed by the Chinese city of Shenzhen to source feedstock, the company said on Tuesday, as it expands production of low-carbon fuels to meet fast-growing demand. The pact between Hong Kong-based EcoCeres and Shenzhen Expressway Group, which handles more than 2.5 million metric tons of food waste annually across China, comes as local governments in China step up collection of feedstocks such as used cooking oil (UCO) to cash in on growing global trade in biodiesel and sustainable aviation fuel (SAF).

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Slovakia wins EU OK on Russian oil-based products sales to Czech Republic

Slovakia wins EU OK on Russian oil-based products sales to Czech Republic

The European Union has granted Slovakia a one-year extension on exporting fuels produced from Russian oil to the Czech Republic, said Reuters.

The country's only refiner, Slovnaft, which is owned by Hungary's MOL, is looking to cut its use of Russian oil but has said it needs more time to do so.

While the EU has imposed sanctions on Russian crude, some countries have exemptions. An exemption allowing the Czech Republic to import Russian-origin crude products expired on Dec. 5.

However, an extension until Dec. 5, 2024 was part of amendments approved as part of a 12th package of EU sanctions against Russia on Monday.

Slovakia had sought the extension. Without it, Slovnaft would lose the ability to export to its neighbour and be left producing only for the domestic market.

We remind, disruption to energy flows in the Red Sea is unlikely to have large effects on crude oil and LNG prices as vessel redirection opportunities imply that production should not be directly affected, Goldman Sachs said. Oil prices advanced on Tuesday, extending gains from the previous session, as attacks by Yemen's Iran-aligned Houthi militants on ships in the Red Sea disrupted maritime trade and forced companies to reroute vessels.

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Dow introduces a range of reduced carbon caustic soda products powered by renewable energy

Dow introduces a range of reduced carbon caustic soda products powered by renewable energy

Dow launched two caustic soda products - Caustic DEC and TRACELIGHT™ DEC, part of Dow’s Decarbia™ portfolio of reduced-carbon solutions, with up to 90% lower carbon dioxide, said the company.

Powered by renewable energy, this electrolysis production process helps lower our customers` Scope 3 emissions, thereby supporting their sustainability goals while maintaining the same product quality. The electrolysis process is also certified by the International Sustainability and Carbon Certification (ISCC) PLUS auditing program using a mass balance approach.

Within Europe, Dow’s caustic soda production plants in Stade and Schkopau in Germany achieved the ISCC PLUS third-party qualification this year. Customers can now benefit from high-quality caustic soda solutions for a variety of industrial and food applications with externally verified sustainability benefits.

“On our accelerated journey towards carbon neutrality, we continue to implement technologies that enable low-carbon solutions. As one of the largest caustic soda producers in Europe, decarbonizing our product portfolio is a major step towards a more sustainable future, as caustic soda is used in a broad range of end applications,” said Andrew Jones, global business director, Dow Chlor-Alkali & Vinyl (CAV) & Propylene Oxide/Propylene Glycol (POPG). “With our latest range of renewable power enabled solutions, our customers will continue to benefit from the same high-quality products with a reduced carbon footprint.”

We remind, Dow announced that it has been named to the Dow Jones Sustainability World Index (DJSI) by S&P Dow Jones Indices, the world's leading index provider focused on providing essential sustainability intelligence. This is the 23rd year Dow has achieved this prestigious ranking as one of the top companies in the global chemical industry in terms of sustainability performance.

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Indorama Ventures continues to be a member of the DJSI World and DJSI Emerging Markets

Indorama Ventures continues to be a member of the DJSI World and DJSI Emerging Markets

Indorama Ventures Public Company Limited, a global sustainable chemical company, has been selected for inclusion in the Dow Jones Sustainability World Index (DJSI World) for the fifth consecutive year and the Dow Jones Sustainability Emerging Markets Index (DJSI Emerging Markets) for the seventh year in a row, said the company.

The continued inclusion reflects the company's commitment to sustainability and robust ESG practices. Indorama Ventures ranked in the 92 nd percentile amongst 11 chemical companies eligible for listing out of 89
chemical companies invited, with a Corporate Sustainability Assessment (CSA) Score of 73 out of 100.

The score reflects the company’s best-in-class performance in innovation management, covering product
innovation, process innovation, and open innovation, which involves collaborative research and development
with external organizations such as customers, suppliers, brand owners, and academic institutions. It also
recognizes the company’s achievements in decarbonization, climate change resiliency and adaptation, plastic
waste management and recycling, corporate social responsibility, and contribution to the Sustainable
Development Goals (SDGs).

Yash Lohia, Chairman of the ESG Council at Indorama Ventures, stated, "We are honored to be included
in the Dow Jones Sustainability Indices for another year, reaffirming our leadership, excellence, and
pioneering approaches to sustainability and innovation. Our dedication to addressing global challenges and
contributing to a more circular future remains unwavering. This milestone underlines our purpose of
reimagining chemistry together to create a better world.”

We remind, Indorama Ventures Public Company Limited, a global sustainable chemical company, today announces that it has recycled 100 billion post-consumer PET bottles since February 2011. This has diverted 2.1 million tons of waste from the environment and saved 2.9 million tons of carbon footprint from the product lifecycles. Demonstrating its commitment to support the establishment of a circular economy for PET, in the last ten years Indorama Ventures has spent more than $1 billion towards waste collection of used PET bottles.

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