Published by Todd Bush on January 25, 2023
January 24, 2023 04:35 PM Eastern Standard Time
HOUSTON--(BUSINESS WIRE)--Orion Engineered Carbons (NYSE: OEC), a global specialty chemicals company, said today it will sharply reduce air emissions at its Borger, Texas, plant with new control technology.
>> In Other News: Carbon America Welcomes Chief Commercial and Financial Officer Cruz Gamboa and COO Craig Spreadbury, As the Company Continues Growth
The $60 million project also involved upgrading the site's cogeneration system, which takes heat created by the carbon black production process and converts it to electricity that can be used by the plant. The electricity is also sold back to the power grid. Such energy conservation equipment is used by many Orion plants worldwide.
'Investing in emissions control technology and generating more clean energy are key to our commitment to sustainability,' Orion CEO Corning Painter said. 'I want to commend our engineers, the Borger team and our contractors for the timely completion of this complex project despite the Covid-19 pandemic and supply chain disruptions.'
The new emissions technology will lead to a major improvement in air quality, eliminating 23 tons of nitrogen oxide and sulfur dioxide emissions per day – a 90 percent reduction. The Borger plant produces carbon black for rubber and specialty clients.
Orion also recently upgraded its emissions control technology at facilities in Ivanhoe, Louisiana and Orange, Texas. Later this year, Orion plans to finish its final U.S. emissions project at its site in Belpre, Ohio.
'We are proud that we've upgraded these plants, but it was an extremely demanding undertaking,' Painter said. 'As we complete the Belpre project, Orion will have significantly more free cash flow to invest in growth projects. 2023 marks a new era for the company.'
Upgrading the Borger plant supports Orion's efforts to achieve the targets in its sustainability-linked term loan. Last year, Orion was one of the first public companies to take out such a loan, which has interest rates that go up or down depending on whether a company meets specific environmental, social and governance goals.
Orion Engineered Carbons (NYSE: OEC) is a leading global supplier of carbon black, a solid form of carbon produced as powder or pellets. The material is made to customers' exacting specifications for tires, coatings, ink, batteries, plastics and numerous other specialty, high-performance applications. Carbon black is used to tint, colorize, provide reinforcement, conduct electricity, increase durability, and add UV protection. Orion has innovation centers on three continents and 14 plants worldwide, offering the most diverse variety of production processes in the industry. The company's corporate lineage goes back more than 160 years to Germany, where it operates the world's longest-running carbon black plant. Orion is a leading innovator, applying a deep understanding of customers' needs to deliver sustainable solutions. For more information, please visit https://orioncarbons.com.
Forward-Looking Statements
This document contains certain forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements of future expectations that are based on current expectations and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in these statements. You should not place undue reliance on forward-looking statements. Each forward-looking statement speaks only as of the date of the particular statement. New risk factors and uncertainties emerge from time to time and it is not possible to predict all risk factors and uncertainties, nor can we assess the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. We undertake no obligation to publicly update or revise any forward-looking statement as a result of new information, future events or other information, other than as required by applicable law.
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.
Inside This Issue ✈️ SAF Isn’t a Buzzword Anymore - It’s 2025’s Breakout Fuel 🏅 Global Energy Prize Awarded to Three Scientists From China, USA and Russia ⚡ ACES Delta I Hydrogen Production and St...
Inside This Issue 🛢️ Exxon's Gas Strike, EPA Smackdown, and Carbon Curveball 🏭 MHI Awarded Contract for Basic Design of Japan's Largest CO₂ Capture Plant at Hokkaido Electric Power's Tomato-Atsuma...
Inside This Issue 🌊 The Quiet Rise of Offshore CO2 Storage: North America's Emerging Frontier for Carbon Capture 🍁 Canada Invests in Carbon Capture and Storage in Alberta 🛰️ Vortex Energy Finalize...
Spiritus Technologies PBC Plans Santa Fe, New Mexico, Operations
Spiritus Technologies PBC, a company engaged in sustainable carbon removal, plans to establish operations in Sante Fe, New Mexico. The project is expected to create 40 jobs. The company will lease...
ACES Delta I Hydrogen Production and Storage
World’s largest green hydrogen storage facility being developed in Utah with funding from the U.S. Department of Energy (DOE) Loan Programs Office will help scale low-carbon energy for western stat...
Partnership Signals Breakthrough Collaboration in Carbon Removal and Sustainable Fuel Development for $1 Billion Clean Fuels Facility Monroe Sequestration Partners (MSP), a premier carbon storage ...
National Carbon Capture Center Launches Novel UNOGAS MK3 Solvent Testing
A significant step forward in carbon capture is underway at the National Carbon Capture Center, where KC8 Capture Technologies' (KC8) advanced UNOGAS system – featuring the innovative UNO MK3 solve...
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.