Houston, Texas — Today, Technip Energies (PARIS:
TE) 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 of 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.”
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.
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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
EnergiesInvestor relationsPhil Lindsay
Vice President Investor RelationsTel: +44 203 429 3929Email:
Phillip LindsayMedia relationsJason HyonnePress
Relations & Social Media ManagerTel: +33 1 47 78 22
89Email: Jason Hyonne |
LanzaTech Investor
Relations Omar El-SharkawyVP, Corporate
DevelopmentlanzatechIR@icrinc.comMedia
relationsKit McDonnellDirector of
CommunicationsEmail: press@lanzatech.com |
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Securityholders
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that could cause actual results to differ from projected results,
please see the Company’s risk factors set forth in the Company’s
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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.
- Ethylene Cracker
- PR_T.EN LanzaTech DOE_EN
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