Market News
Middle East Bio-chemicals Market- Recent Developments
- In June 2021, Cargill, is an agribusiness company that provide products and services in the food, financial products, agricultural, industrial, and risk management fields, partnered with Helm Company, to produce 1, 4-butanediol in US$ 300 million commercial scale under a JV Qore. This will assist leading companies in replacing fossil-based chemistry with bio-based intermediates, allowing them to reduce their greenhouse gas emissions. Helm is a leading provider of customized branded merchandise, marketing fulfilment, and ecommerce retail turnkey solutions to some of the world\'s largest and best-known companies.
- In March 2021, © 2023 OMV Aktiengesellschaft OMV, an Austria-based refiner, announced plans to build a pilot plant at its 200,000 b/d Schwechat refinery, to produce advanced biofuels using waste-based glycerol by 2023. This facility will use a catalyst to prepare about 1.23 mnl/year of propanol from glycerol. It is a waste product or byproduct that is obtained from the manufacturing of biodiesel.
- In August 2021, BASF SE, a chemicals company that manufactures products ranging from chemicals, plastics, performance products, crop protection products to oil and gas, and Eni, signed an agreement to develop new technology and produce bio-propanol from glycerin, a byproduct from the manufacturing of industrial biodiesel or fatty acid methyl ester.
- In March 2019, Cummins Dubai, entered into a partnership with Neutral Fuels, to generate power from its diesel generator for RIT Tiger Fest Music and Dance. The power was generated from 100% biodiesel (B100). This helped Neutral Fuels in expanding its portfolio in the Middle East region.
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