Impairment taken on Sunliquid plant
Following a financial assessment as part of annual impairment testing in accordance with International Financial Reporting Standards , Clariant is to take an impairment of about € 225 million to the current asset value of its recently opened Sunliquid plant in Podari , Romania .
The plant began production in Q2 but has not yet achieved its targeted yields and other operational parameters on an industrial scale . The impairment is based on the delayed rampup and the current financial performance , and will be reflected in the full year 2022 results , to be announced in March 2023 .
Clariant said that it will continue the commercialisation of Sunliquid technology , in which agricultural waste is converted into second-generation cellulosic ethanol for use in aviation fuels and biochemicals . It added that it “ aims to address the operational challenges by continuously adjusting production processes with the target of achieving commercial viability of the new technology ”.
Separately , Clariant is to invest € 80 million to expand its Care Chemicals facility at Daya Bay in Huizhou , China , by the end of 2024 . This will both add capacity for existing products and introduce new products in the pharmaceutical , personal care , home care and industrial sectors .
Daya Bay , which has obtained the drug GMP certificate , is the first API site in China certified to produce polyethylene glycol Polyglykol 3350 . More generally , it will become new global hub for Clariant ’ s healthcare business support .
Clariant will also expand existing production capacity for its ethylene oxide derivatives and a broader chemical portfolio at the site , including mild surfactants for personal care applications . Previously , the company had made other investments in the ethoxylation plant , including adding two production lines for halogen-free flame retardants , which are due to open in 2023 and 2024 .
SBTi validates three firms ’ climate targets
The Science Based Target initiative ( SBTi ), a collaboration between the UN Global Compact , the World Resources Institute , CDP and the World Wide Fund for Nature ( WWF ) to drive corporate climate action , has validated the latest greenhouse gas reduction ( GHG ) targets of three chemical companies as both sciencebased and aligned with the UN Paris Agreement to limit the global temperature rise to no more than 1.5 º C this century .
DSM set its first target in 2016 of reducing Scope 1 and 2 GHG emissions by 2030 and achieved this in 2019 . The company updated to 50 % in 2021 and again to 59 % in August 2033 , following continuous assessment of plans to achieve net-zero by 2050 if not sooner .
As part of this ambition , DSM is already aiming to source 100 % of its electricity worldwide from renewable sources by 2030 .
Danish enzyme specialist Novozymes now aims to reduce absolute CO 2 emissions from operations and from its supply chain by 75 % and 35 % respectively by 2030 from a 2018 base year and to source all of its electricity from renewable sources by 2025 , up from 37 % in 2018 . Where possible , it will seek to “ give back parts of our excess industrial heat to our local communities ”.
In the longer term , Novozymes is committing to reduce absolute Scope 1 , 2 and 3 emissions by 90 % from 2018 to 2050 . This includes biogenic emissions and removals associated
with the use of bioenergy . Direct emission reductions will be prioritised and all residual emissions will be neutralised , if applicable , in line with SBTi criteria before reaching net-zero .
The SBTi has also validated Umicore ’ s targets to reduce Scope 1 and Scope 2 GHG emissions by 50 % from a 2019 baseline and its Scope 3 emissions by 42 % of CO 2
/ tonne of purchased materials . These near-term targets are embedded in its 2030 RISE growth strategy and part of its longer-term commitment to reach net zero emissions in 2035 .
Subsequently , CDMO CordenPharma joined the SBTi and has committed to evaluating and developing over the next year science-based GHG reduction targets aligned with the SBTi criteria over the next year . Once set , these will be submitted for validation and approval . The company is also in the process of developing an action plan to help its 3,000 employees to implement the targets .
10 SPECIALITY CHEMICALS MAGAZINE ESTABLISHED 1981