Haldor Topsoe: financial report for 1H 2014

Haldor Topsoe: financial report for 1H 2014

F O C U S stockist, particularly in the cereal production sector, and operating a larger industrial site located on the La Rochelle port. Original Sou...

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F O C U S stockist, particularly in the cereal production sector, and operating a larger industrial site located on the La Rochelle port. Original Source: Adamas, Website: http://www.adamaslawfirm.com (6 Nov 2013) © Adamas 2013

Genomatica working on developing bio-based routes to nylon intermediates US-based sustainable chemicals firm Genomatica has announced its plan to develop complete process technologies for the bio-based production of major nylon intermediates, such as caprolactam, hexamethylenediamine, and adipic acid. These three chemicals have a combined market value of more than $18 bn/y. The company intends to eventually license the technologies to major nylon players. This nylon intermediates programme follows the successful butadiene programme, which achieved more than $100 M in industry support. Braskem and Versalis are partners for the butadiene programme, with BASF and Novamont SpA successfully licensing the firm’s bio-based butanediol Geno BDO technology. Genomatica currently seeks partners for its nylon intermediates programme. Original Source: Chemical Weekly, 19 Aug 2014, 183 (Website: http://www.chemicalweekly.com) © Sevak Publications & Chemical Weekly Database P Ltd 2014

Haldor Topsoe: financial report for 1H 2014 Haldor Topsoe has released its financial performance for 1H 2014. Group revenue amounted to DKR 2705 M, a decrease of 5% compared to same period last 2013 (when adjusting for the change of estimate of warranty provision in 1H 2013, revenue decreased by 1%). EBITDA was DKR 411 M, a decrease of 23% compared to same period last year (when adjusting for the change of estimate of warranty provision in 1H 2013, EBITDA decreased by 5%). EBIT was DKR 308 M, a decrease of 24% compared to same period last year (when adjusting for the change of estimate of warranty provision in 1H 2013, EBIT increased by 3%). Depreciation has been lower in 1H 2014 compared to 1H 2013, but depreciations will increase going forward as a consequence of OCTOBER 2014

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increased investments. Net profit was DKR 230 M, a decrease of 26% compared to same period last 2013 (when adjusting for the change of estimate of warranty provision in 1H 2013, net profit decreased by 1%). Cash flow from operations was DKR 374 M and cash flow from operating activities was DKR 292 M. Original Source: Haldor Topsoe, Website: http://www.topsoe.com/ (12 Aug 2014) © HaldorTopsoe A/S 2014

Haldor Topsoe A/S plans to close subsidiary On 12 Aug 2014, Haldor Topsoe A/S announced its plan to close Topsoe Fuel Cell A/S, a subsidiary company within the Topsoe group focused on the development and commercialization of components and technology for high temperature solid oxide fuel cells (SOFC). As part of the planned closure Haldor Topsoe will put all development of its SOFC technology on hold and focus on the development of selected applications in solid oxide electrolysis cell development (SOEC). Activities related to this specific area will be moved to Haldor Topsoe during 2H 2014. Haldor Topsoe expects that approximately 90 employees will be made redundant in Topsoe Fuel Cell as a consequence of the closure. The company currently employs 117 employees in total. Haldor Topsoe expects the closure of Topsoe Fuel Cell to lead to an asset impairment of up to DKR 200 M in 2H 2014. The closure, however, will increase the free cash flow from 2015 onwards freeing capital for other investments. Original Source: Haldor Topsoe, Website: http://www.topsoe.com/ (8 Aug 2014) © HaldorTopsoe A/S 2014

M&G Chemicals and Anhui Guozhen to establish bio-refinery to produce cellulosic ethanol M&G Chemicals has announced that its wholly owned subsidiary M&G International Sarl has entered into a Sino-foreign jv with Anhui Guozhen Co Ltd to form the new firm Anhui M&G Guozhen Green Refinery Co Ltd. The new entity will employ PROESA technology licensed by Beta Renewables to convert 970,0001,300,000 tonne/y of agricultural

residues into cellulosic ethanol, glycols and by-products such as lignin in Fuyang City, Anhui Province, PRC. The biomass will be supplied by Guozhen under a long term fixed price agreement, and the enzymes needed for the conversion of the biomass will be supplied by Novozymes. M&G and Guozhen shareholding in the Green Refinery JV are 70% and 30% respectively and the total jv investment is estimated to be around $325 M, to construct what will be by far the largest non-food cellulosic bio-refinery in the world. The two companies further expect to soon announce the creation of a second jv to convert the lignin into steam and electricity. Original Source: M&G Chemicals, 2014. Found on SpecialChem Cosmetics and Personal Care Innovation and Solutions, 11 Aug 2014 (Website: http://www.specialchem4cosmetics.com)

Methes Energies signs catalyst supply agreement for its new pre-treatment process Methes Energies International Ltd, a renewable energy company that offers an array of products and services to biodiesel fuel producers, announced the introduction of Methes PP-MEC catalyst. Dorf Ketal Speciality Catalysts LLC will be the exclusive manufacturer of Methes PPMEC catalyst. Methes announced that it was officially launching a new pretreatment process for high free fatty acid (FFA) biodiesel feedstocks, including non-food grade corn oil, on 28 Aug 2014. The PP-MEC catalyst is a major active ingredient in this new process. Working with Dorf Ketal allows Methes to count on a reliable manufacturer of speciality catalysts with an experienced management team who can provide that catalyst to Methes or its customers on a worldwide basis. Original Source: Methes Energies International Ltd, 2014. Found on Marketwired, 2 Sep 2014, (Website: http://marketwired.com)

Novozymes & Beta Renewables look to build on commercialization success of cellulosic ethanol facility The Denmark-based biotech firm Novozymes has purchased a 10% stake in Beta Renewables, a joint venture between Biochemtex and

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