Amsterdam, 8 October 2019(Regulated Information) --- AMG Advanced Metallurgical Group N.V. ("AMG", EURONEXT AMSTERDAM: "AMG") and Shell Catalysts & Technologies have signed an agreement to form a joint venture which will be called Shell & AMG Recycling B.V. The joint venture will provide a long-term sustainable solution for catalyst reclamation and recycling.
Dr. Heinz C. Schimmelbusch, Chairman & Chief Executive Officer of AMG, said "AMG has developed a world-leading spent-catalyst recycling technology and we are very pleased to be able to form this joint venture and thereby significantly expand and deepen our 17-year relationship with Shell. With the implementation of the IMO 2020 fuel sulfur regulation we expect significant spent-catalyst volume growth. The end-to-end option that will be available to oil refineries will represent an outstanding CO2 reduction opportunity."
Andy Gosse, President Shell Catalysts & Technologies said, "These changing regulations and an increased focus on oil to chemicals in our industry have significantly increased the number of residue-upgrading units already in operation, in construction or being planned. With this opportunity comes the environmental challenge managing the large volume of catalysts that will be required. Coupled with Shell Catalysts & Technologies' existing offering, we will be able to deliver refiners the option of a truly circular solution, turning waste into value, replacing disposal with recycling and reuse, and significantly reducing pollution and emissions."
Refineries will benefit from the combined technical capabilities and integrated resources of Shell & AMG Recycling B.V. by reducing the risk and cost of transporting and disposing of spent catalysts and eliminating the need to landfill. In addition, they will benefit from the monetization of the valuable metals contained in their waste.
The process employed by Shell & AMG Recycling B.V. extracts critical materials, including vanadium, in the form of ferrovanadium from spent catalysts. Ferrovanadium is an alloy which increases the strength of steel and is primarily used in infrastructure applications such as rebar or girders. Through the reclamation of ferrovanadium from spent catalysts, steel manufacturers benefit from a low CO2 alternative compared to sourcing the vanadium through mining.
The joint venture will operate outside of North America and is subject to the necessary regulatory approvals.
Notes to Editors
This press release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.
This press release contains regulated information as defined in the Dutch Financial Markets Supervision Act (Wet op het financieel toezicht).
About AMG
AMG is a global critical materials company at the forefront of CO2 reduction trends. AMG produces highly engineered specialty metals and mineral products and provides related vacuum furnace systems and services to the transportation, infrastructure, energy, and specialty metals & chemicals end markets.
AMG Critical Materials produces aluminum master alloys and powders, ferrovanadium, natural graphite, chromium metal, antimony, lithium, tantalum, niobium and silicon metal. AMG Technologies produces titanium aluminides and titanium alloys for the aerospace market; designs, engineers, and produces advanced vacuum furnace systems; and operates vacuum heat treatment facilities, primarily for the transportation and energy industries.
With approximately 3,300 employees, AMG operates globally with production facilities in Germany, the United Kingdom, France, the Czech Republic, the United States, China, Mexico, Brazil, India, Sri Lanka and Mozambique, and has sales and customer service offices in Russia and Japan).
For further information, please contact:
AMG Advanced Metallurgical Group N.V. +1 610 975 4979
Michele Fischer
Vice President Investor Relations
mfischer@amg-nv.com
Disclaimer
Certain statements in this press release are not historical facts and are "forward looking". Forward looking statements include statements concerning AMG's plans, expectations, projections, objectives, targets, goals, strategies, future events, future revenues or performance, capital expenditures, financing needs, plans and intentions relating to acquisitions, AMG's competitive strengths and weaknesses, plans or goals relating to forecasted production, reserves, financial position and future operations and development, AMG's business strategy and the trends AMG anticipates in the industries and the political and legal environment in which it operates and other information that is not historical information. When used in this press release, the words "expects," "believes," "anticipates," "plans," "may," "will," "should," and similar expressions, and the negatives thereof, are intended to identify forward looking statements. By their very nature, forward looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that the predictions, forecasts, projections and other forward looking statements will not be achieved. These forward looking statements speak only as of the date of this press release. AMG expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward looking statement contained herein to reflect any change in AMG's expectations with regard thereto or any change in events, conditions, or circumstances on which any forward looking statement is based.
About Shell Catalysts & Technologies
Shell Catalysts & Technologies provides catalysts, technology, technical advisory services and research and development expertise to the refining and petrochemical processing industries worldwide. Shell Catalysts & Technologies has approximately 5000 staff located in Shell Group's primary commercial and technical centres operating in Houston, Amsterdam, and Bangalore and in an extensive network of offices around the world.
Shell Catalysts & Technologies supports the Shell Group's business activities in R&D plus in downstream manufacturing, downstream marketing, gas & LNG, production and project management. Outside of the Shell Group, the company successfully services refining, chemicals, gas, metals, pulp and paper and motor-sport customers worldwide.
For further information, please contact:
Laura van Lingen
Shell spokesperson
Laura.vanLingen@shell.com
+31703774238
Shell Investor Relations: + 31 70 377 4540
Cautionary note
The companies in which Royal Dutch Shell plc directly and indirectly owns investments are separate legal entities. In this press release "Shell", "Shell group" and "Royal Dutch Shell" are sometimes used for convenience where references are made to Royal Dutch Shell plc and its subsidiaries in general. Likewise, the words "we", "us" and "our" are also used to refer to Royal Dutch Shell plc and subsidiaries in general or to those who work for them. These terms are also used where no useful purpose is served by identifying the particular entity or entities. 'Subsidiaries', "Shell subsidiaries" and "Shell companies" as used in this press release refer to entities over which Royal Dutch Shell plc either directly or indirectly has control. Entities and unincorporated arrangements over which Shell has joint control are generally referred to as "joint ventures" and "joint operations", respectively. Entities over which Shell has significant influence but neither control nor joint control are referred to as "associates". The term "Shell interest" is used for convenience to indicate the direct and/or indirect ownership interest held by Shell in an entity or unincorporated joint arrangement, after exclusion of all third-party interest.
This press release contains forward-looking statementsand www.sec.gov). These risk factors also expressly qualify all forward looking statements contained in this press release and should be considered by the reader. Each forward-looking statement speaks only as of the date of this press release, October 8 2019. Neither Royal Dutch Shell plc nor any of its subsidiaries undertake any obligation to publicly update or revise any forward-looking statement as a result of new information, future events or other information. In light of these risks, results could differ materially from those stated, implied or inferred from the forward-looking statements contained in this press release.
We may have used certain terms, such as resources, in this press release that United States Securities and Exchange Commission.
Attachment
- 100819 AMG Shell Global Solutions Announce JV Agreement (https://ml-eu.globenewswire.com/Resource/Download/2bf01f33-7aea-47a1-87ed-da83107b44d5)
