Today, Technip Energies and LanzaTech Global, Inc. (NASDAQ: LNZA)
were selected by the U.S. Department of Energy (DOE) Office of
Clean Energy Demonstrations to begin award negotiations for up to
$200 million in Bipartisan Infrastructure Law and Inflation
Reduction Act (IRA) funding as part of the Industrial
Demonstrations Program (IDP).
The project SECURE – standing for Sustainable
Ethylene from CO2 Utilization with Renewable Energy – aims to
develop a transformational technology to produce sustainable
ethylene from captured carbon dioxide (CO2). Technip Energies and
LanzaTech announced their Joint Collaboration Agreement to create
this new pathway to sustainable ethylene at commercial scale in
July 2023.
Estimated to reach a $200 billion market by 2030
and with a global demand of over 231 million tons per year,
ethylene is the key building block for thousands of chemicals and
materials and is often called the “world’s most important
chemical”. This new joint technology will be developed in the U.S.
for integration directly into existing commercial ethylene
crackers, whereby it will capture CO2 emissions from the process
and convert them into sustainable ethylene.
Arnaud Pieton, CEO at Technip
Energies, stated: “We are extremely proud to have been
selected by the DOE for this significant award consideration.
Together with LanzaTech, our plan is to fully test and develop this
breakthrough technology, at scale, in an actual plant, which can
then be replicated in other facilities. Carbon utilization and the
ability to decarbonize ethylene will have a significant impact on
the chemicals industry’s emissions abatement, which is a benefit to
us all.”
Dr. Jennifer Holmgren, CEO of
LanzaTech, said: “The DOE’s Industrial Demonstrations
Program is climate leadership in action. We look forward to
developing a replicable, breakthrough solution with Technip
Energies that creates high-quality jobs and supports local
communities for a just energy transition.”
U.S. Secretary of Energy Jennifer M.
Granholm said: “Spurring on the next generation of
decarbonization technologies in key industries like steel, paper,
concrete, and glass will keep America the most competitive nation
on Earth. Thanks to President Biden’s industrial strategy, DOE is
making the largest investment in industrial decarbonization in the
history of the United States. These investments will slash
emissions from these difficult-to-decarbonize sectors and ensure
American businesses and American workers remain at the forefront of
the global economy.”
If awarded, up to $200 million is expected to
fund the design, engineering, construction, and equipment for a
commercial-scale integrated technology unit in the U.S. Leveraging
Technip Energies’ substantial industry expertise, this integrated
solution has significant replication potential for ethylene
crackers worldwide. Globally, there are an estimated 370 ethylene
steam crackers, over 40% of which use Technip Energies’ technology,
including 8 in the US.
Project SECURE expects to provide 200
construction jobs and 40 permanent jobs with benefits and training
opportunities. Once the site is finalized, the project aims to hire
from the local area with a focus on residents of disadvantaged
communities. Technip Energies and LanzaTech plan to approach
community groups, unions, and labor groups to negotiate, review,
and update agreements for quality jobs and community collaboration
at the host site. The project was selected as one of 33 projects
across more than 20 states to receive up to a total of $6 billion
to demonstrate commercial-scale decarbonization solutions needed to
move energy-intensive industries toward net-zero while
strengthening local economies, creating, and maintaining
high-quality jobs, and slashing harmful emissions that jeopardize
public health.
Learn more about IDP and projects selected for
award negotiations here.
About Technip Energies
Technip Energies is a leading Engineering &
Technology company for the energy transition, with leadership
positions in LNG, hydrogen and ethylene as well as growing market
positions in blue and green hydrogen, sustainable chemistry and CO2
management. The Company benefits from its robust project delivery
model supported by an extensive technology, products and services
offering.
Operating in 34 countries, our 15,000 people are
fully committed to bringing our clients’ innovative projects to
life, breaking boundaries to accelerate the energy transition for a
better tomorrow.
Technip Energies shares are listed on Euronext
Paris. In addition, Technip Energies has a Level 1 sponsored
American Depositary Receipts (“ADR”) program, with its ADRs trading
over-the-counter. For further information: www.ten.com.
About LanzaTech
LanzaTech Global, Inc. (NASDAQ: LNZA) is the
carbon recycling company transforming waste carbon into sustainable
raw materials for everyday products. Using its commercial
biorecycling technology, LanzaTech captures carbon generated by
energy-intensive industries at the source, preventing it from being
emitted into the air. LanzaTech then gives that captured carbon a
new life as a clean replacement for virgin fossil carbon in
everything from household cleaners and clothing fibers to packaging
and fuels. By partnering with companies across the global supply
chain like ArcelorMittal, Zara, H&M Move, Coty, and On,
LanzaTech is paving the way for a circular carbon economy. For more
information about LanzaTech, visit https://lanzatech.com.
Contacts
Technip
Energies |
LanzaTech |
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Investor
relations |
Investor
Relations |
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Phil Lindsay Vice President
Investor RelationsTel: +44 203 429 3929Email: Phillip Lindsay |
Omar El-SharkawyVP, Corporate
DevelopmentlanzatechIR@icrinc.com |
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Media
relations |
Media
relations |
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Jason HyonnePublic Relations
ManagerTel: +33 1 47 78 22 89Email: Jason Hyonne |
Kit McDonnellDirector of
CommunicationsEmail: press@lanzatech.com |
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Important Information for Investors and
Securityholders
Technip Energies Forward-Looking Statement
This Press Release contains forward-looking
statements that reflect Technip Energies’ (the “Company”)
intentions, beliefs or current expectations and projections about
the Company's future results of operations, anticipated revenues,
earnings, cashflows, financial condition, liquidity, performance,
prospects, anticipated growth, strategies and opportunities and the
markets in which the Company operates. Forward-looking statements
are often identified by the words “believe”, “expect”,
“anticipate”, “plan”, “intend”, “foresee”, “should”, “would”,
“could”, “may”, “estimate”, “outlook”, and similar expressions,
including the negative thereof. The absence of these words,
however, does not mean that the statements are not forward-looking.
These forward-looking statements are based on the Company’s current
expectations, beliefs and assumptions concerning future
developments and business conditions and their potential effect on
the Company. While the Company believes that these forward-looking
statements are reasonable as and when made, there can be no
assurance that future developments affecting the Company will be
those that the Company anticipates.
All of the Company’s forward-looking statements involve risks
and uncertainties, some of which are significant or beyond the
Company’s control, and assumptions that could cause actual results
to differ materially from the Company’s historical experience and
the Company’s present expectations or projections. Should one or
more of these risks or uncertainties materialize, or should
underlying assumptions prove incorrect, actual results may vary
materially from those set forth in the forward-looking
statements.
For information regarding known material factors that could
cause actual results to differ from projected results, please see
the Company’s risk factors set forth in the Company’s 2022 Annual
Financial report filed on March 10, 2023, with the Dutch Authority
for the Financial
Markets (AFM) and the French Autorité des Marchés Financiers
which include a discussion of factors that could affect the
Company's future performance and the markets in which the Company
operates. Please also see Section 1.3 (Principal Risks and
Uncertainties) of the Company's 2023 Half-Year Report which was
filed with the AFM and the AMF on July 27, 2023.
Forward-looking statements involve inherent risks and
uncertainties and speak only as of the date they are made. The
Company undertakes no duty to and will not necessarily update any
of the forward-looking statements in light of new information or
future events, except to the extent required by applicable law.
Lanzatech Forward-Looking Statements
This press release includes forward-looking
statements regarding LanzaTech based on the beliefs and assumptions
of its management. Although LanzaTech believes that its plans,
intentions, and expectations reflected in or suggested by these
forward-looking statements are reasonable, LanzaTech cannot assure
you that it will achieve or realize these plans, intentions, or
expectations. Forward-looking statements are inherently subject to
risks, uncertainties, and assumptions. You should not put undue
reliance on these statements, which speak only as of the date
hereof. LanzaTech undertakes no obligations to update or revise
publicly any forward-looking statements, whether because of new
information, future events or otherwise, except as required by
law.
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