Methanol

Advent Technologies Secures €1.8 Million Frame Contract with Volta Energy for the Supply of Methanol-Powered Fuel Cell Units

Retrieved on: 
Monday, December 18, 2023

Advent Technologies Holdings, Inc. (NASDAQ: ADN) (“Advent” or the “Company”), an innovation-driven leader in the fuel cell and hydrogen technology sectors, is pleased to announce the signing of a new frame contract with Volta Energy.

Key Points: 
  • Advent Technologies Holdings, Inc. (NASDAQ: ADN) (“Advent” or the “Company”), an innovation-driven leader in the fuel cell and hydrogen technology sectors, is pleased to announce the signing of a new frame contract with Volta Energy.
  • Under the terms of the agreement, Advent will supply its methanol-powered fuel cell units (“Serene”) to Volta Energy as a novel, green, power source in its product offerings.
  • The total initial value of the new contract is €1.8 million, and deliveries are set to begin in January 2024.
  • Morten Sørensen, Senior Vice President of Advent Technologies A/S, commented, "We are proud to enter into the next phase of our collaboration with Volta Energy.

Advent Technologies Secures Additional New Contract worth $2.8 Million from U.S. Department of Defense for its Portable Fuel Cell System

Retrieved on: 
Thursday, December 14, 2023

Advent Technologies Holdings, Inc. (NASDAQ: ADN), an innovation-driven leader in the fuel cell and hydrogen technology space, is delighted to announce that its subsidiary, Advent Technologies, LLC, has secured an additional new $2.8 million contract with the U.S. Department of Defense (DoD).

Key Points: 
  • Advent Technologies Holdings, Inc. (NASDAQ: ADN), an innovation-driven leader in the fuel cell and hydrogen technology space, is delighted to announce that its subsidiary, Advent Technologies, LLC, has secured an additional new $2.8 million contract with the U.S. Department of Defense (DoD).
  • Since 2020, Advent Technologies, LLC has diligently refined the HB50 fuel cell system, resulting in a highly portable and efficient power source.
  • Advent Technologies envisions the widespread use of the HB50 portable fuel cell system across many sectors such as defense, robotics, agriculture, drones, emergency operations, and leisure and camping.
  • Vasilis Kopelas, General Manager of Advent Technologies, LLC, added, “We are deeply honored to fortify our partnership with the U.S. Department of Defense, propelling our mission to revolutionize portable fuel cell technology.

Overseas Shipholding Group, Inc. to Upgrade Engines on Alaskan Class Vessels

Retrieved on: 
Thursday, December 14, 2023

Overseas Shipholding Group, Inc. (the “Company” or “OSG”), a leading provider of energy transportation, announced a comprehensive lifecycle engine upgrade (LCU) program for all four vessels in its Alaskan Class fleet to be achieved through a contract with MAN Energy Solutions SE.

Key Points: 
  • Overseas Shipholding Group, Inc. (the “Company” or “OSG”), a leading provider of energy transportation, announced a comprehensive lifecycle engine upgrade (LCU) program for all four vessels in its Alaskan Class fleet to be achieved through a contract with MAN Energy Solutions SE.
  • The vessels Alaskan Explorer, Alaskan Frontier, Alaskan Legend, and Alaskan Navigator, all approaching 20 years in age, will receive significant engine and operational improvements, resulting in environmental benefits as well as extending their commercially useful life.
  • Capability to meet Carbon Intensity Indicator (CII) regulations without sacrificing operational capacity of the vessels for years to come.
  • The upgrade of these vessels’ main engines should allow that goal to be achieved over the next decade, adding years of CII compliance for these vessels to generate additional cashflows through 2035.

Asahi Kasei develops novel membrane system to dehydrate organic solvents without heat or pressure – Contributing to process optimization in the pharmaceutical industry

Retrieved on: 
Wednesday, December 13, 2023

Asahi Kasei has developed a novel membrane system for dehydrating organic solvents for pharmaceutical applications without the application of heat or pressure.

Key Points: 
  • Asahi Kasei has developed a novel membrane system for dehydrating organic solvents for pharmaceutical applications without the application of heat or pressure.
  • The company has now begun collaborating with Ono Pharmaceutical Co., Ltd., of Osaka, Japan, for the practical verification of this system.
  • Asahi Kasei has now further leveraged its expertise to develop a novel dehydration membrane system including a hollow-fiber module and draw solution for organic solvents in the pharmaceutical manufacturing process.
  • To evaluate the performance of the membrane system in practical use, Asahi Kasei is collaborating with Osaka-based Ono Pharmaceutical.

Transition Industries LLC and Macquarie Group Announce Marketing Agreement for Low Carbon Methanol Project in Sinaloa, Mexico

Retrieved on: 
Monday, December 11, 2023

Rommel Gallo, the Chief Executive Officer of Transition Industries, commented: “We are pleased to announce our MSMA with Macquarie, which provides us with unique access to customers on a global basis across multiple industries.

Key Points: 
  • Rommel Gallo, the Chief Executive Officer of Transition Industries, commented: “We are pleased to announce our MSMA with Macquarie, which provides us with unique access to customers on a global basis across multiple industries.
  • “We are pleased to have entered into an agreement with Transition Industries to provide a comprehensive solution for their proposed Pacifico Mexinol facility.
  • We are very excited to work with Transition Industries in its quest to expand access to methanol globally.
  • IFC would act as project co-developer with Transition Industries LLC, and as the co-lead mandated arranger alongside Kreditanstalt fur Wiederaufbau IPEX (“KfW IPEX”).

Transition Industries LLC and IFC announce agreement to develop net-zero world-scale methanol project in Sinaloa, Mexico

Retrieved on: 
Thursday, December 7, 2023

Transition Industries LLC announced at COP 28 that it has signed a Joint Project Development Agreement (JPDA) with the International Finance Corporation (IFC), a member of the World Bank Group, to jointly develop its Pacifico Mexinol project, a 6,145 MT per day methanol production facility near Topolobampo, Sinaloa, Mexico.

Key Points: 
  • Transition Industries LLC announced at COP 28 that it has signed a Joint Project Development Agreement (JPDA) with the International Finance Corporation (IFC), a member of the World Bank Group, to jointly develop its Pacifico Mexinol project, a 6,145 MT per day methanol production facility near Topolobampo, Sinaloa, Mexico.
  • Under the terms of the JPDA, the IFC will share a portion of the project development costs, provide substantial expertise to ensure compliance with the IFC Performance Environmental & Social Standards, and leverage its expertise to support the project financing.
  • Rommel Gallo, the CEO of Transition Industries, commented: “We are pleased to announce our JPDA with the IFC and proud to partner on this groundbreaking project.
  • The project is expected to generate on average 3,500 jobs during construction and up to 450 jobs during operations.

Asia-Pacific PEM Electrolyzer Markets, 2022 and 2023-2031: Market to Grow at a CAGR of 40.1% with Elchemtech, Hitachi Zosen, Beijing SinoHy Energy, and Ningbo VET Energy Technology Dominating - ResearchAndMarkets.com

Retrieved on: 
Wednesday, December 6, 2023

The Asia-Pacific PEM electrolyzer market (excluding China) is projected to reach $306.7 million by 2031 from $14.7 million in 2022, growing at a CAGR of 40.1% during the forecast period 2022-2031.

Key Points: 
  • The Asia-Pacific PEM electrolyzer market (excluding China) is projected to reach $306.7 million by 2031 from $14.7 million in 2022, growing at a CAGR of 40.1% during the forecast period 2022-2031.
  • Proton Exchange Membrane (PEM) electrolyzer sales are currently expanding in the Asia-Pacific (APAC) market due to a number of important factors.
  • The favored strategy for the companies has been product developments, business expansions, and acquisitions to strengthen their position in the global PEM electrolyzer market.
  • Key players in the APAC PEM electrolyzer market analyzed and profiled in the study involve PEM electrolyzer manufacturers and the overall ecosystem.

Marintec China 2023 Concluded with Record-Breaking Success

Retrieved on: 
Monday, December 18, 2023

HONG KONG, Dec. 18, 2023 /PRNewswire/ -- Marintec China, the leading event of the maritime industry, concluded its highly anticipated 2023 edition on a high note.

Key Points: 
  • HONG KONG, Dec. 18, 2023 /PRNewswire/ -- Marintec China, the leading event of the maritime industry, concluded its highly anticipated 2023 edition on a high note.
  • Marintec China 2023 reinforced its position as the premier platform in Asia, with 80,518 professionals, representing a remarkable 12% growth from the last edition, Marintec China 2023 drew professionals from more than 100 countries and regions, with over 2,000 exhibiting companies, including 15 national and regional pavilions.
  • The shipbuilding market took centre stage at Marintec China 2023, as industry players showcased their state-of-the-art vessels and shipbuilding technologies.
  • "We are thrilled with the overwhelming success of Marintec China 2023," said Ms Stella Fung, General Manager of Maritime, Informa Markets.

OCI Global Announces Agreement for the Sale of IFCO to Koch

Retrieved on: 
Monday, December 18, 2023

Morgan Stanley & Co. International plc is serving as financial advisor to OCI on the transaction.

Key Points: 
  • Morgan Stanley & Co. International plc is serving as financial advisor to OCI on the transaction.
  • Today's announcement marks an important step in delivering these objectives, with the crystallisation of USD 3.6 billion of value for OCI.
  • We are exceptionally proud to have single-handedly built a world-class global nitrogen facility and revitalised a core industry in the United States.
  • Hassan Badrawi, CFO of OCI commented: "Combined with the recent sale of Fertiglobe, OCI is crystallising $7.2 billion of tax-free gross cash proceeds.

OCI Global Announces Agreement for the Sale of IFCO to Koch

Retrieved on: 
Monday, December 18, 2023

Morgan Stanley & Co. International plc is serving as financial advisor to OCI on the transaction.

Key Points: 
  • Morgan Stanley & Co. International plc is serving as financial advisor to OCI on the transaction.
  • Today's announcement marks an important step in delivering these objectives, with the crystallisation of USD 3.6 billion of value for OCI.
  • We are exceptionally proud to have single-handedly built a world-class global nitrogen facility and revitalised a core industry in the United States.
  • Hassan Badrawi, CFO of OCI commented: "Combined with the recent sale of Fertiglobe, OCI is crystallising $7.2 billion of tax-free gross cash proceeds.