20.12.2017 - FRAMEWORK AGREEMENT WITH MITSUBISHI CHEMICAL CORPORATION FOR THE COMMERCIALIZATION OF SPECIFIC GAS TECHNOLOGIES

  • The two parties will commercialize under exclusivity their respective combined technologies for the production of propylene derivatives starting from natural gas feed-stock

 

 

Milan, 20 December 2017 - Maire Tecnimont announces that METGAS Processing Technologies (“METGAS”), its wholly owned subsidiary involved in the development and commercialization of new gas transformation technologies, has executed a framework agreement with Mitsubishi Chemical Corporation (“MCC”), concerning the future commercialization of the combination of both Parties’ Technologies for the production of propylene derivatives chemicals starting from gas rich in methane feed-stock (“the Package Technologies”).

 

The Package Technologies will combine with METGAS’ “Gas to Propylene” Technology, which is being developed jointly with Siluria Technologies Inc, with MCC Technologies for the production of “OXO Alcohols”, “Acrylic Acid” and “Acrylic Ester”. Under the agreement, METGAS will lead the licensing activities of the Package Technologies on worldwide basis.

 

With this agreement, METGAS is expanding its portfolio to downstream Propylene technologies, and will be able to provide access to the production of the above chemicals in countries where only natural gas is available.

 

Today, the cumulative consumption of Propylene to produce OXO Alcohols, Acrylic Acid and Acrylic Ester represents about 15% of the global Propylene Market with a compounded annual growth rate of about 5%.

 

Pierroberto Folgiero, Maire Tecnimont Chief Executive Officer, commented: “With this agreement we expand our technological portfolio, in line with our industrial strategy committed to continuous innovation. We are eager to work closely with a prestigious partner such as MCC and leverage our technology-driven expertise in olefins derivatives”.

 

 

 

Maire Tecnimont S.p.A.

Maire Tecnimont S.p.A. is a company listed with the Milan stock exchange. It heads an industrial group (the Maire Tecnimont Group) that leads the international Engineering & Construction (E&C), Technology & Licensing and Energy Business Development & Ventures markets, with specific competences in plants, particularly in the hydrocarbons segment (Oil & Gas, Petrochemicals and Fertilisers), as well as in Power Generation and Infrastructures. The Maire Tecnimont Group operates in approximately 40 different countries, numbering around 50 operative companies and a workforce of about 5,400 employees, along with approximately 3,000 additional Electrical & Instrumentation professionals. For more information: www.mairetecnimont.com.

 

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