Albemarle reports 2Q 2008 results

Albemarle reports 2Q 2008 results

F O C US nanotechnology sector and EU member states to bring a better understanding of nanomaterials and to provide adequate ways of protecting humans...

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F O C US nanotechnology sector and EU member states to bring a better understanding of nanomaterials and to provide adequate ways of protecting humans and the environment. The nanotechnology sector is covered by existing legislation such as Reach and specific sector regulations for food, cosmetic and drug sectors. Analysts forecast that the world market for nanotechnology products could be worth $750-2000 bn over 10 years. Chimie Pharma Hebdo, 23 Jun 2008, (428), 4 (in French)

Nanoparticulate titanias as photocatalysts for industry The commercial development of nanocrystalline photocatalytic materials is a potentially huge area of nanomaterials development. Titanium dioxide (titania) nanoparticles, like all nanomaterials, exhibit unique physical and chemical properties that are currently being used in a raft of applications. Industrial utilisation of the photocatalytic effect of nanoscale titania has already found its way into various applications, especially for self-cleaning and anti-fogging purposes like self-cleaning tiles, selfcleaning windows by CVD processes or self-cleaning textiles, anti-fogging car mirrors, and the anti-microbial effect also has been demonstrated. The commercial potential for such coatings is massive. Applications include medical, architectural (particularly cultural heritage purposes, facade paints, indoor, wall paper, tiles, consumer goods, etc), automotive and food industries (cleaner technologies, non-fogging glass and mirrors, product safety), textile and glass industry, and environmental protection (water and air purification and disinfection). The report looks at the photocatalytic process, investigates global commercialization of nanoparticulate titania, and details the leading suppliers and application developers. Price: £400. Press release from: Nanoposts.com, c/o Technology Transfer Centre (TTC), 6 The Alpha Centre, University of Stirling Innovation Park, Stirling, FK9 4NF, UK. Tel: +44 (0)1786 474768. Fax: +44 (0)1786447530. E-mail: [email protected] Website: http://www.nanoposts.com (Jun 2008)

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COMPANY NEWS Albemarle reports 2Q 2008 results Albemarle Corp reported 2Q ended Jun 2008 net income of $61.7 M, or 67 cts/share (net income of $53.9 M, or 55 cts/share for 2Q ended Jun 2007). The company reported net sales in 2Q 2008 totalling $621 M ($564 M in 2Q 2007). Net income for 1H ended Jun 2008 was $124.9 M or $1.34/share (net income of $112 M or $1.15/share for 1H ended Jun 2007). Net sales for 1H 2008 were $1.29 bn ($1.15 bn for 1H 2007), an increase of 12%. During 2Q 2008: Catalysts generated net sales of $208.4 M; and Fine Chemicals net sales were $151.9 M, a 15% increase. R&D expenses were $17.593 M during 2Q 2008 ($14.924 M in 2Q 2007) and $34.393 M during 1H 2008 ($30.635 M in 1H 2007). Albemarle 2Q and 1H 2008 financials, 21 Jul 2008 (Albemarle Corp, 451, Florida Street, Baton Rouge, LA 70801, USA. Tel: +1 225 388 7402. Fax: +1 225 388 7848. Website: http://www.albemarle.com)

Albemarle lands catalysts deal with Neste Oil Albemarle will supply catalysts to Neste Oil’s new-generation NExBTL renewable diesel process from 20082010. A NExBTL plant is being operated by Neste at Porvoo, Finland. The company is also building several other NExBTL facilities, including a second plant at Porvoo, and two 800,000 tonne/y biodiesel plants. One is located at Varkaus, Finland, scheduled to start up in 2010, and one at Rotterdam, The Netherlands, scheduled to start up in 2011. Chemical Week, 28 Jul 2008, 170 (23), 8 & Press release from: Albemarle Corp, 330, South Fourth Street, PO Box 1335, Richmond, VA 23210, USA. Tel: +1 804 788 6000. Fax: +1 804 388 7686. Website: http://www.albemarle.com (23 Jul 2008)

Avantium steps ahead with its biofuels programme Avantium, a technology firm specializing in advanced R&D in the field of energy, chemicals, and pharmaceuticals sectors, is developing a next generation biofuel,

focusing on the conversion of carbohydrates such as glucose into ‘furanics.’ The firm’s furanics biofuels scheme is based on three major fields of improvement, namely, energy, economics, and emissions. The biobased furanics are also potential chemical building blocks for various substitutes for oil-based products, including plastics. The advantages of furanics over ethanol and fossil-based fuels include better fuel energy density, easier and cheaper processing, and better emission profiles due to its being free of sulfur. The company is also developing a catalytic process for the conversion of sugars into furanics that can compete with fossil-based fuels. The initial engine tests conducted by the company using furanics show a reduction in sulfur oxide and particulate emissions and enhanced cetane number of diesel. Chimica Oggi/Chemistry Today, May-Jun 2008, 26 (3), 64-65

BP, Verenium in partnership for cellulosic ethanol BP is to pay Verenium $90 M over the next 18 months in return for rights to Verenium’s current and future technology for making ethanol from cellulosic materials. Verenium was formed in 2007 from Diversa and Celunol. Chemical and Engineering News, 11 Aug 2008, 86 (32), 21 & Chemical Week, 11 Aug 2008, 170 (25), 9

Danisco to invest $70 M in bioethanol production Danisco, which is the world’s second largest producer of enzymes for bioethanol, is to spend $70 M on producing alternative fuel for cars. The Danish firm had already announced in May that, in a jv with DuPont, it would develop a production system for making biofuel from crops which would be cheaper than petrol. If the jv develops positively Danisco will invest substantial amounts in the project over the next 5 years; this could be significantly more than $70 M. Dagbladet Borsen, 18 Jul 2008 (Website: http://www.borsen.dk) (in Danish)

SEPTEMBER 2008