Citroniq and Lummus Sign Letter of Intent for Green Polypropylene Projects

26 April 2023

Lummus Technology, a global provider of process technologies and value-driven energy solutions, and Citroniq Chemicals, a world-scale producer of carbon-negative materials, announced that the two companies have signed a letter of intent (LOI) for the development of Citroniq's green polypropylene (PP) projects in North America. These projects will use Lummus' Verdene™ PP technology suite.

"Lummus is honored to collaborate with Citroniq to bring this innovative and sustainable technology to market, which will facilitate further decarbonization of our industry," said Leon de Bruyn, President and Chief Executive Officer of Lummus Technology. "Lummus is the global leader in licensing PP technology, and we can serve as a launch pad for Citroniq's green, carbon-negative PP to meet the growing demand for products using sustainable materials."

"Together, Citroniq and Lummus are creating the first world-scale sustainable bio-polypropylene production process in North America," said Kelly Knopp, Principal and Co-Founder of Citroniq Chemicals. "The first plant will sequester about 1.2 MM tons of CO2 annually as solid polypropylene pellets, providing customers an impactful solution for reducing their carbon footprint and meeting their ESG goals."

"With a projected investment of over US $5 billion and a combined PP annual capacity of over 3.5 billion pounds, Citroniq is prepared to execute a rapid expansion plan of its E2O process, to meet the market's growing need for sustainable, carbon negative polypropylene at a competitive price," said Mel Badheka, Principal and Co-Founder of Citroniq Chemicals. "Located in the Midwest, Citroniq's first plant is scheduled to start production in 2026 and provide identical, drop-in products that can be directly certified as biogenic through physical testing."

About Lummus Technology

Lummus Technology is the global leader in developing process technologies that make modern life possible and focus on a more sustainable, low carbon future. Lummus is a master licensor of clean energy, petrochemical, refining, gas processing and renewable technologies, and a supplier of catalysts, proprietary equipment, digitalization and related lifecycle services to customers worldwide. To learn more about Lummus, visit www.LummusTechnology.com.

About Citroniq

Citroniq is leading the energy transition by producing carbon negative materials at scale. Citroniq's platform for the chemical and plastics industries uses bio-based feedstocks and cutting-edge technologies to reduce greenhouse gases. Citroniq's E2O process greatly reduces GHG emissions, permanently sequesters carbon into a useful plastic pellet, and helps companies reach their greenhouse gas reduction commitments. More information at www.citroniq.com.

 

Source:prnewswire.com