Page 168 - CW E-Magazine (24-10-2023)

News from Abroad

BACKING OUT
100% subsidiary of Agrocel Industries Pvt. Ltd.
Albemarle drops plans to acquire Australian lithium AGROCEL
INDUSTRIES PVT LTD
firm, Liontown Resources India’s leading manufacturer of Bromine offers

US-based chemicals major and cluding IGO, Wesfarmers and Mineral
world’s largest lithium producer, Resources to develop projects.
Albemarle, has abandoned a $4.2-bn Bromine, HBr, CaBr , NaBr
takeover plan for Australian lithium Hancock said in a September state-
developer, Liontown Resources, after ment that it would look to work along- 2
Australia’s richest person Ms. Gina side other shareholders and that there
Rinehart acquired a big enough stake in were opportunities to create “down- n-Propyl Bromide
the business to block the deal. stream value” in the lithium market in
Western Australia, referring to the refi-
Albemarle withdrew its indicative ning of the mineral once it has been Iso Propyl Bromide
proposal amid “growing complexities- extracted.
with the proposed transaction,”days The failure of the deal highlights the
after Hancock Prospecting, an iron growing battle for Australian lithium Liontown has appointed UBS to Phosphorus Tribromide
ore miner controlled by Ms. Rinehart, assets as the world’s largest developers raise capital as it seeks to develop its key
raised its stake of Liontownto 19.9%. look to boost capacity. Lithium is a key Kathleen Valley project, with a target of
That shareholding would likely have component of batteries used in electric finalising funding. The company hopes
been enough to block the Albemarle vehicles. to raise A$450mn ($285-mn) to get the Phosphorus Oxybromide
bid. project into production by mid-2024.
Albemarle had been working for
Albemarle’s CEO, Mr. Kent Mas- months to acquire Liontown and its Kathleen Valley is widely regarded Ethyl-2-Bromobutyrate
ters, said in a statement that moving offer was accepted in September. as one of the world’s top five lithium
forward with the Liontown acquisition Both Albemarle and Chile’s SQM are projects, and Liontown has already
was not in his company’s best interests already investors in some of Western signed deals to supply Ford Motor, Te- 1-Bromo,3-Chloropropane
and was consistent with its disciplined Australia’s largest lithium projects and sla and electric vehicle battery maker,
approach to capital allocation. have partnered with local players in- LG Energy.

Topsoe & Aramco to set up a low-carbon hydrogen

demo plant in Saudi Arabia

Denmark’s Topsoe and Saudi energy
major, Aramco, have announced a new
collaboration to demonstrate the ‘eREACT’
technology for the production of
low-carbon hydrogen (blue hydrogen).

Topsoe’s‘eREACT’ technology plat-
form for production of low-carbon
hydrogen has the potential to signifi- gen or other chemicals and fuels.The and Topsoe will build a demonstration Contact us for your requirements:
cantly reduce carbon emissions. The ‘eREACT’ technology opens up new plant at the Shaybah Natural Gas Liquids Marketing Office:
hydrogen produced is said to hold a car- production routes combining renew- recovery plant in Saudi Arabia. In the pro- B-701-702, 7th Floor, Flexcel Park, 184-87, S.V. Road, Jogeshwari (West), Mumbai - 400 102. Maharashtra, India.
bon intensity of near zero. The heart of able electricity and natural gas, while ject, renewable electricity will be used for Tel: 022-62162800 / 26790871 w Email: info@agrocel.net w Website: www.agrocel.co.in
the technology is an electrified reactor eliminating fluegas emissions. electrified steam reforming of natural gas Works:
design, which is able to convert a vari- to produce low-carbon hydrogen, with the w Greater Rann of Kutch, Near Village Dhordo, Taluka Bhuj, Kutch - 370 510. Gujarat India.
ety of feedstock into low-carbon hydro- As part of the agreement, Aramco resulting CO being sequestered.
2 w Survey No. 442-443, Near Village Avania, Ghogha Road, Bhavnagar - 364 002. Gujarat, India.
168 Chemical Weekly October 24, 2023

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