Deal Flow for 1/13/22: Solvay, Trillium, LanzaJet, Microsoft CIF, Maersk, Hyundai Heavy, Liquid Wind, Neste, Ørsted, Ballard

January 13, 2022 |

LanzaJet secures $50M from Microsoft CIF for first commercial SAF plant

LanzaJet, has secured financing for its Freedom Pines Fuels plant in Soperton, Georgia, through the Microsoft Climate Innovation Fund. The Microsoft Climate Innovation Fund has made a $50M investment to support the construction of LanzaJet’s (and the world’s) first alcohol-to-jet sustainable aviation fuel (SAF) production plant. The innovative (read low-interest) structure of Microsoft’s financing will enable LanzaJet to bring lower-cost sustainable aviation fuel and renewable diesel to the global market. The construction of Freedom Pines Fuels is progressing as planned, even with supply chain, manufacturing, and labor shortages impacting the global economy. Fabrication of the plant is well underway; some modules are already completed and final site engineering is nearing completion. The LanzaJet Freedom Pines Fuels plant is expected to achieve mechanical completion this year and begin producing 10 million gallons of SAF and renewable diesel per year from sustainable ethanol including from waste-based feedstocks, in 2023. Our take: Low-interest means high-impact. Kudos to Microsoft for walking the walk.  More on the story.

Solvay, Trillium sign supply-chain LOI for bio-based acrylonitrile for carbon fiber

In Belgium, Solvay and Trillium Renewable Chemicals signed a letter of intent to develop the supply chain for bio-based acrylonitrile. Trillium will supply Solvay with bio-ACN from Trillium’s planned commercial asset, and Solvay will evaluate bio-ACN for carbon fiber manufacturing as part of its long-term commitment to developing sustainable solutions from bio-based or recycled sources. The aim of this partnership is to produce carbon fiber for use in various applications such as aerospace, automotive, energy, and consumer goods.  Acrylonitrile is a chemical intermediate typically made from petroleum-based feedstocks like propylene and is the primary raw material used in the production of carbon fiber. Trillium’s Bio-ACNTM process delivers acrylonitrile from plant-based feedstocks like glycerol with a lower carbon footprint. Our take: There;’s more than carbon fiber here. With renewable styrene and butadiene, here’s a path to sustainable ABS, think LEGOS.  More on the story.

Maersk adds four more 16K tonne emethanol ships to its fleet

Maersk has exercised its option for four more 16,000 tonne ships running on methanol, for delivery in 2025. Previously, Maersk signed with Hyundai Heavy Industry for eights ships delivered in 2024, with the option for four more in 2025.  The news comes as the A.P. Moller – Maersk business set a new Net Zero by 2040 goal, a decade faster than its initial 2050 target. Our take: Methanol’s on the move. Kudos to Maersk. More on the story.

Neste’s circular plastic-to-plastic production project passes first test in Finland

Neste has successfully concluded its first series of trial runs processing liquefied waste plastic at its Porvoo refinery in Finland. After kicking the series off with its first-ever industrial scale trial run with liquefied waste plastic in 2020, Neste has conducted additional runs in 2021. In the course of the trial runs, Neste has been able to upgrade liquefied waste plastic to drop-in solutions for plastic production and develop industrial scale capabilities to upgrade recycled feedstocks. Our take: plastic isn’t the problem, waste’s the problem. Here’s a solution.. More on the story.

Liquid Wind, Ørsted to acquire 45% stake in Liquid Wind AB’s FlagshipONE eMethanol project

Ørsted and Liquid Wind AB have reached an agreement, under which Ørsted will acquire a 45 % ownership share of Liquid Wind AB’s FlagshipONE eMethanol project. FlagshipONE is a late-stage development project and could become the world’s first large-scale sustainable eMethanol project. Liquid Wind AB plans to establish a series of facilities across Sweden to decarbonise the maritime sector, of which FlagshipONE will be the first. Our take: More methanol on the move. Power-to-X is getting traction.  More on the story.

Ballard rakes in orders for 3MW of hydrogen fuel cell power

Ballard Power Systems received orders for 31 modules, totaling 3 MW of hydrogen fuel cell power, to a leading global construction, electric power, and off-road equipment manufacturer for testing and deployment in a variety of end-use applications. The modules are expected to be delivered in 2022 and 2023 to match planned integration, testing, and deployment schedules. The orders include the supply of Ballard’s new FCmove HD+ engines, marking an important commercial milestone for Ballard’s latest fuel cell engine which was launched late last year. The FCmove-HD+ is more compact and efficient than previous generations, with an expected lower total cost of ownership, making it a competitive, zero-emission solution for broad reaching medium and heavy-duty applications. Our take: Hydrogen power naysays, take note. More on the story.

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