With German, EU Funding, Orion S.A. Investing €12.8M in Project for Circular Carbon Black
12 September 2023 - 10:35PM
Business Wire
Orion S.A. (NYSE: OEC), a global specialty chemicals producer,
is investing €12.8 million – including €6.4 million in funding from
the German government and the European Union – to further develop
and demonstrate a climate-neutral process for producing carbon
black from alternative carbon sources, the company said today.
The technology is designed to improve Orion’s yield and
throughput in the production of carbon black using circular
feedstocks and thus potentially reduce the carbon footprint of the
process by a significant amount. This could accelerate the shift to
a circular economy and feed the growing demand for sustainable
materials in the tire industry.
Half of the €12.8 million Orion plans to invest in this
initiative, called the "Clean Carbon Black Research and Development
Project,” will be provided by the decarbonization program of
Germany’s Federal Ministry of Economic Affairs and Climate Action,
supported by the EU’s NextGenerationEU fund.
“We are grateful for the funding from the EU and the German
government. It shows a great commitment to innovation and creating
a circular economy,” Orion’s CEO Corning Painter said.
“For years, Orion has been a leading innovator in making carbon
black from circular feedstocks,” Painter added. “The Clean Carbon
Black Research and Development Project’s aim will be to develop
ways to reduce the carbon footprint and improve the yield and
throughput, potentially lowering the cost of the material.
Technological breakthroughs in this increasingly important field
could have significant ramifications for energy integration and the
molecular recycling of tires.”
A research facility is being built for the project at Orion’s
main innovation center at its plant in Cologne.
About Orion S.A.
Orion S.A. (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 15 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 orioncarbons.com.
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William Foreman Director of Corporate Communications and
Government Affairs Orion S.A. Direct: +1 832-445-3305 Mobile: +1
281-889-7833 william.foreman@orioncarbons.com
Wendy Wilson Head of Investor Relations Orion S.A. Direct: +1
281-974-0155 wendy.wilson@orioncarbons.com
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