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UOP Technology selected to support conversion of biomass to fuel at California Renewable Energy facility
FOCUS Umicore 1H 2010 For its 1H 2010, Umicore has reported revenues of €987.1 M (€860.2 M for its 1H 2009), recurring EBIT of €186.3 M (€49.5 M), EBITDA of €244.3 M (€111.6 M), basic EPS of €1.24 (€0.18), R&D expenditure of €66.2 M (6% of revenues), and capital expenditure of €75.5 M. An interim dividend of €0.325 will be paid in Oct 2010. There was recovery in the company’s Advanced Materials and Precious Metals Products & Catalysts businesses and a positive impact of cost reduction measures. Meuse-Rhine Journal, 15 Aug 2010, (236) (Wadsworth & Wadsworth Assoc, PO Box 42, NL6245 ZG, Eijsden, The Netherlands. Tel: +31 43 4093719. Fax: +31 43 4098899. Website: http://www.meuse-rhine-journal.com)
UNPZ selects CDTech for gasoline desulfurization unit OAO UNPZ has commissioned Catalytic Distillation Technologies (CDTech) to provide licence and basic engineering services for a fluidcatalytic-cracking gasoline hydrodesulfurization plant in Russia. The facility will have a design processing capacity of 1.26 M tonne/y. Chemical Engineering (New York), Aug 2010, 117 (8), 51
UOP Technology selected to support conversion of biomass to fuel at California Renewable Energy facility UOP LLC has announced that its technology was selected for use in Rentech Inc’s Rialto Renewable Energy Center for the conversion of biomass to transportation fuels. The renewable energy center, to be built in Rialto, CA, will convert biomass, such as yard and tree trimmings, into renewable, ultra-clean diesel fuel and renewable electricity. The new facility will use UOP hydroprocessing technology, which converts hydrocarbons into clean-fuel products. The center is expected to produce roughly 640 bbl/ day of liquid fuel and 35 MW of base-load electricity, enough to power about 30,000 homes each day. In Aug 2009, eight airlines signed a multi-year agreement with Rentech to together purchase up to 1.5 M gallon/y of diesel from the Rialto Project for use in ground service equipment at Los Angeles
OCTOBER 2010
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International Airport. The Rialto Project is scheduled to start up in late 2012. Press release from: UOP LLC, 25 East Algonquin Road, Des Plaines, IL 60017 5017, USA. Tel: +1 847 391 2000. Website: http://www.uop.com (1 Sep 2010)
Verenium closes sale of cellulosic biofuels business to BP Verenium Corp announced the closing of the sale of its cellulosic biofuels business to BP Biofuels North America (BP) for $98.3 M, subject to the additional financial terms of the transaction announced on 15 Jul 2010. In the transaction, BP acquired the company’s facilities in Jennings, LA, including the pilot plant and demonstration-scale facility, the San Diego, CA, R&D facilities, as well as cellulosic biofuels and cellulosic enzyme technology and related IP. In addition, BP retained select personnel needed to continue the cellulosic biofuels development programme. BP also became the sole owner of Vercipia Biofuels and Galaxy Biofuels, the 5050 jvs created by the company and BP. Verenium retains its commercial enzyme business, including its biofuels enzyme products, and has the right to develop its own cellulosic enzyme programme. Verenium also retains select R&D capabilities, as well as the potential option to access select biofuels technology developed by BP using the technology acquired from Verenium through this transaction. Press release from: Verenium Corp, 55 Cambridge Parkway, Cambridge, MA 02142, USA. Tel: +1 617 674 5300. Website: http://www.verenium.com (2 Sep 2010)
Verenium reports financial results for the 2Q 2010 Verenium Corp reported financial results for 2Q and 1H ended Jun 2010. The company also provided a summary of recent highlights and financial guidance for 2010. Total revenues for 2Q 2010 were $20.0 M ($16.3 M in 2Q 2009), with product revenues representing more than 60% of total revenues in both periods. Product revenues for 2Q and 1H 2010 increased to $13.3 M and $24.9 M, respectively, ($10.5 M in 2Q 2009 and $21.1 M in 1H 2009), primarily due to an increase in Phyzyme profit share from Danisco, as well as an increase in revenues from Veretase and
Xylathin enzymes, which continued to gain acceptance in the grain ethanol markets, and Purifine enzyme for the soybean oil processing market. Fuelzyme revenues returned to levels achieved in 1Q 2009, indicating recovery in the corn ethanol market. R&D expenses were $12.975 M for 2Q 2010 ($16.132 M in 2Q 2009). Net loss attributed to Verenium for 2Q 2010 was $4.5 M (net loss of $20.0 M in 2Q 2009), on a GAAP accounting basis. For 1H 2010 R&D expenses were $29.974 M ($33.947M in 1H 2009) and net loss attributed to Verenium was $16.481 M for 1H 2010 (net loss attributed to Verenium of $16.641 M for 1H 2009). Verenium financial results 2Q and 1H 2010, 9 Aug 2010 (Verenium Corp, 55 Cambridge Parkway, Cambridge, MA 02142, USA. Tel: +1 617 674 5300. Website: http://www.verenium.com)
WR Grace reports 2Q 2010 results: Grace Davison: segment operating income up 30% For its 2Q 2010 (period ends 30 Jun 2010), the Grace Davison segment of WR Grace & Co has reported net sales of $453.9 M ($477.9 M for its 2Q 2009), of which: Refining Technologies accounted for $179.1 M ($246.9 M), Materials Technologies $174.1 M ($146.9 M), and Speciality Technologies $100.7 M ($84.1 M); and adjusted EBIT of $106.5 M ($81.8 M). For its 1H 2010, this segment has reported net sales of $872.2 M ($955.8 M for its 1H 2009), of which: Refining Technologies accounted for $351.1 M ($5213.7 M), Materials Technologies $335.1 M ($280.9 M), and Speciality Technologies $186.0 M ($151.2 M); and adjusted EBIT of $194.3 M ($121.8 M). WR Grace Results 2Q 2010, 22 Jul 2010, 3-5,14 (WR Grace & Co, 7500 Grace Drive, Columbia, MD 21044, USA. Website: http://www.grace.com)
WR Grace plots exit strategy WR Grace expects to emerge from Chapter 11 bankruptcy protection in 4Q 2010. The company has released an investor presentation highlighting financial targets through 2013, including 20% company-wide adjusted EBITDA margins, sales growth of 8-10%/y. EBITDA growth forecast for full-year 2010 is 1616.4%. Grace has been awaiting final court approval for its reorganization
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UNPZ selects CDTech for gasoline desulfurization unit OAO UNPZ has commissioned Catalytic Distillation Technologies (CDTech) to provide licence and basic engineering services for a fluidcatalytic-cracking gasoline hydrodesulfurization plant in Russia. The facility will have a design processing capacity of 1.26 M tonne/y. Chemical Engineering (New York), Aug 2010, 117 (8), 51
UOP Technology selected to support conversion of biomass to fuel at California Renewable Energy facility UOP LLC has announced that its technology was selected for use in Rentech Inc’s Rialto Renewable Energy Center for the conversion of biomass to transportation fuels. The renewable energy center, to be built in Rialto, CA, will convert biomass, such as yard and tree trimmings, into renewable, ultra-clean diesel fuel and renewable electricity. The new facility will use UOP hydroprocessing technology, which converts hydrocarbons into clean-fuel products. The center is expected to produce roughly 640 bbl/ day of liquid fuel and 35 MW of base-load electricity, enough to power about 30,000 homes each day. In Aug 2009, eight airlines signed a multi-year agreement with Rentech to together purchase up to 1.5 M gallon/y of diesel from the Rialto Project for use in ground service equipment at Los Angeles
OCTOBER 2010
ON
C ATA LY S T S
International Airport. The Rialto Project is scheduled to start up in late 2012. Press release from: UOP LLC, 25 East Algonquin Road, Des Plaines, IL 60017 5017, USA. Tel: +1 847 391 2000. Website: http://www.uop.com (1 Sep 2010)
Verenium closes sale of cellulosic biofuels business to BP Verenium Corp announced the closing of the sale of its cellulosic biofuels business to BP Biofuels North America (BP) for $98.3 M, subject to the additional financial terms of the transaction announced on 15 Jul 2010. In the transaction, BP acquired the company’s facilities in Jennings, LA, including the pilot plant and demonstration-scale facility, the San Diego, CA, R&D facilities, as well as cellulosic biofuels and cellulosic enzyme technology and related IP. In addition, BP retained select personnel needed to continue the cellulosic biofuels development programme. BP also became the sole owner of Vercipia Biofuels and Galaxy Biofuels, the 5050 jvs created by the company and BP. Verenium retains its commercial enzyme business, including its biofuels enzyme products, and has the right to develop its own cellulosic enzyme programme. Verenium also retains select R&D capabilities, as well as the potential option to access select biofuels technology developed by BP using the technology acquired from Verenium through this transaction. Press release from: Verenium Corp, 55 Cambridge Parkway, Cambridge, MA 02142, USA. Tel: +1 617 674 5300. Website: http://www.verenium.com (2 Sep 2010)
Verenium reports financial results for the 2Q 2010 Verenium Corp reported financial results for 2Q and 1H ended Jun 2010. The company also provided a summary of recent highlights and financial guidance for 2010. Total revenues for 2Q 2010 were $20.0 M ($16.3 M in 2Q 2009), with product revenues representing more than 60% of total revenues in both periods. Product revenues for 2Q and 1H 2010 increased to $13.3 M and $24.9 M, respectively, ($10.5 M in 2Q 2009 and $21.1 M in 1H 2009), primarily due to an increase in Phyzyme profit share from Danisco, as well as an increase in revenues from Veretase and
Xylathin enzymes, which continued to gain acceptance in the grain ethanol markets, and Purifine enzyme for the soybean oil processing market. Fuelzyme revenues returned to levels achieved in 1Q 2009, indicating recovery in the corn ethanol market. R&D expenses were $12.975 M for 2Q 2010 ($16.132 M in 2Q 2009). Net loss attributed to Verenium for 2Q 2010 was $4.5 M (net loss of $20.0 M in 2Q 2009), on a GAAP accounting basis. For 1H 2010 R&D expenses were $29.974 M ($33.947M in 1H 2009) and net loss attributed to Verenium was $16.481 M for 1H 2010 (net loss attributed to Verenium of $16.641 M for 1H 2009). Verenium financial results 2Q and 1H 2010, 9 Aug 2010 (Verenium Corp, 55 Cambridge Parkway, Cambridge, MA 02142, USA. Tel: +1 617 674 5300. Website: http://www.verenium.com)
WR Grace reports 2Q 2010 results: Grace Davison: segment operating income up 30% For its 2Q 2010 (period ends 30 Jun 2010), the Grace Davison segment of WR Grace & Co has reported net sales of $453.9 M ($477.9 M for its 2Q 2009), of which: Refining Technologies accounted for $179.1 M ($246.9 M), Materials Technologies $174.1 M ($146.9 M), and Speciality Technologies $100.7 M ($84.1 M); and adjusted EBIT of $106.5 M ($81.8 M). For its 1H 2010, this segment has reported net sales of $872.2 M ($955.8 M for its 1H 2009), of which: Refining Technologies accounted for $351.1 M ($5213.7 M), Materials Technologies $335.1 M ($280.9 M), and Speciality Technologies $186.0 M ($151.2 M); and adjusted EBIT of $194.3 M ($121.8 M). WR Grace Results 2Q 2010, 22 Jul 2010, 3-5,14 (WR Grace & Co, 7500 Grace Drive, Columbia, MD 21044, USA. Website: http://www.grace.com)
WR Grace plots exit strategy WR Grace expects to emerge from Chapter 11 bankruptcy protection in 4Q 2010. The company has released an investor presentation highlighting financial targets through 2013, including 20% company-wide adjusted EBITDA margins, sales growth of 8-10%/y. EBITDA growth forecast for full-year 2010 is 1616.4%. Grace has been awaiting final court approval for its reorganization
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