represents the third biggest market forrare earths by volume, with a 19%share, but only 5% of the industry’stotal value. The current marketvolume for lanthanum stands at 20-25,000 tonne/y, with most of theproduct consumed in China and theUSA (about 9000 tonne/y each) andin Japan (about 3000 tonne/y).
Industrial Minerals, Jun 2010, (513), 43
Collapse in platinum prices excessive
The platinum producer Lonmin hasannounced a further halt in productionat its main foundry. The outage willhelp reduce a market surplus. MorganStanley and Société Générale haveraised their forecasts in platinumprices after a drastic fall in the metal’svalue. Johnson Matthey reports thatstocks held by platinum users weredepleted in 2009. The firms are likelyto restart purchasing. Platinum salesto the automotive sector fell by 39% in2009 to 2.23 M ounces. However,Chinese platinum sales for thejewellery sector improved. The sectoraccounts for 31% of platinumdemand. Several producers haddifficulty with mineral mining.
La Tribune, 26 May 2010, (4477), 30 (in French)
Chemical companies invest in biotechchem processing
Traditional chemical firms are investingmore in biotechnology-based chemicalprocessing. In late May 2010, Germanspeciality chemical maker LANXESSmade a $10 M (€8.2 M) investment inUS biobutanol developer Gevo. Thetwo firms aim to produce isobutene, akey raw material in butyl rubbermanufacture, from sugar-basedisobutanol. Gevo, which has designeda fermentation process to makeisobutanol from biomass, opened a 1M gallon/y first biobutanoldemonstration plant in St Joseph, MO,USA in Sep 2009. To emphasize itsfocus on biotechnology, Germansilicones producer WACKER Chemiechanged the name of its fine chemicalsunit to WACKER BIOSOLUTIONS inMar 2010. WACKER is alreadyimplementing biotech methods tomanufacture several products, such ascyclodextrins, cysteine, andbiopharmaceuticals. Meanwhile,DuPont has been successful in
producing 1,3-propanediol (PDO) viathe fermentation process at its jv firmDuPont Tate & Lyle BioProducts. InMay 2010, the jv announced itsintention to boost its corn-based Bio-PDO production by 35% from thecurrent 45,000 tonne/y capacity. Theproject is expected to be finished by2Q 2011. Construction of a secondBio-PDO plant is also beingconsidered by DuPont. Otherchemical companies’ efforts to pursuethe biotech route for chemicalproduction are also discussed.
ICIS Chemical Business, 21 Jun 2010 (Website:http://icischemicalbusiness.com)
Venture capitalists shift direction onbiofuel again
The main findings of Lux Research’sreport, “Navigating Through Scale toSuccessful Exits: A Compass forBiofuel And Biomaterial Investors,”are presented. In 2009, there was a28% decrease in venture capitalistinvestment in biofuel and biomaterialsproduction, to $877 M. Investorsgenerally achieved poor returns whenthey invested in large-scale biofuelproduction, and it is thought thatventure capital is now being targetedat biofuel firms with process flexibilityand business models that do notrequire significant amounts of capital.The global economic crisis has alsoaffected the approach of venturecapitalists with respect to investing inbiofuels, with investments becomingmore strategic in nature. In the report,Lux assesses funding opportunitiesaccording to process technology,including biofuels from algae, GM,chemical processes, fermentation,and gasification. Changes ininvestment trends over recent yearsare also outlined.
Renewable Energy Focus (Online Version), 24 Jun2010 (Website:http://www.renewableenergyfocus.com)
COMPANYNEWS
BlueFire Ethanol Fuels advancesfunding for cellulosic ethanol
BlueFire Ethanol Fuels Inc (BlueFire)announced that the Department of
Energy has determined that BlueFirehas met the requirements necessaryfor Phase I of the application processand that the company has beeninvited to continue on to Phase II forthe financing of their Fulton, MSProject. The loan guarantee pursuantto this programme would support theconstruction of BlueFire’s commercial(cellulosic) biofuels plant planned inFulton, MS. Under this programmeBlueFire has requested $250 M,which would be combined with thepreviously awarded $88 M grant andother resources to provide sufficientcapital for the project’s constructionand launch of the plant. The Fultonplant will produce 19 M gallons ofethanol/y from woody biomass, millresidue, and other cellulosic waste. Tohelp facilitate the closing of thisfinancing, BlueFire is activelyrecruiting specialists to close thetransaction. BlueFire was establishedto deploy a commercially ready,patented and proven ConcentratedAcid Hydrolysis Technology Processfor the profitable conversion ofcellulosic waste materials (GreenWaste) to ethanol, a viable alternativeto gasoline.
Press release from: BlueFire Ethanol Fuels Inc, 31Musick, Irvine, CA 92618, USA. Tel: +1 949 588 3767.Fax: +1 949 588 3972. E-mail:[email protected]. Website:http://bluefireethanol.com (7 Jul 2010)
Borealis: lower sales and profit: 2009
Borealis AG recorded in 2009 a 30%decline in turnover to €4.7 M and an84% drop in net profit to €38 M. InEurope, the Austrian company hasbrought online its new 350,000tonne/y LDPE unit in Stenungsund,Sweden. In the Middle East, Borougeis boosting polyethylene andpolypropylene capacity at itspetrochemical complex in Ruwais,Abu Dhabi, by threefold to 2 Mtonne/y. Borouge 2 is planned forstartup in mid-2010. At Borouge 3, thefoundations for a further 2.5 M tonne/yof polyolefin capacity by end-2013 arebeing laid out. In the area of catalystproduction, an additional investmentamounting to €75 M has beenannounced. Borealis plans toconstruct a semi-commercial catalystunit in Linz, Austria.
Chemical Fibers International, May 2010, (2), 81
2 AUGUST 2010
F O C U S O N C A T A L Y S T S
