Air Products to Supply Industrial Gases to INEOS Bioenergy Plant
First Project in the World to Use New Innovative Technology
LEHIGH VALLEY, Pa., Sept. 6, 2011 /PR Newswire/ -- Air Products (NYSE: APD) today announced it has been awarded a contract to supply onsite oxygen, compressed dry air, and nitrogen to INEOS Bio's joint venture project for the first-of-its-kind waste to ethanol facility in Vero Beach, Florida. Air Products will supply gaseous oxygen from a PRISM® VSA Oxygen Generation System as well as bulk liquid oxygen and liquid nitrogen delivered to the site by trucks. Operations are scheduled to begin in the second quarter of 2012.
Advanced biofuels plants, such as the INEOS facility, are based on production from non-food feedstocks. This commercial facility is designed to produce eight million gallons per year of bio ethanol fuel and six mw (gross) of renewable electricity from various wastes, including yard, vegetative and household wastes. This eliminates the need to grow crops as a raw material and avoids competition for land-use with the food supply chain by using waste cellulosic materials from farms and households as well as municipal solid waste.
'We are very excited to have received this contract award in the advanced biofuels market. Over the past few years, Air Products has seen growing interest in industrial gas supply for advanced biofuels projects. Participation in the growth of this segment supports Air Products' clean energy and sustainability initiatives, and we believe that INEOS Bio's bioenergy technology represents significant promise for the industry,' said Nelson Squires, vice president, North America Merchant Gases at Air Products.
'This supply arrangement with Air Products is a key step in the commercialization of INEOS Bio's advanced bioenergy technology. We look forward to working with Air Products as we bring this unique technology to the U.S. and global markets to help address the world's waste management challenges,' said Mark Niederschulte, COO of INEOS Bio.
Renewable Fuel Standards (RFS-2) in the United States are driving substantial project activity in the area of advanced biofuels. Many of these projects require industrial gases, particularly oxygen, hydrogen, and nitrogen. In this area, oxygen is used primarily for gasification, hydrogen for oil upgrading to final biofuel products, and nitrogen as an inert and fluidizing medium. Global market demand for biofuels is likely to support significant growth in industrial gas use over the next 10 years.
Air Products' PRISM® Gas Generation Systems supply nitrogen, oxygen, and hydrogen to more than 1,500 customers in over 30 countries worldwide. Global markets currently served by Air Products' PRISM® Gas Generation Systems include glass, steel, electronics and semiconductors, non-ferrous metals, metals processing, chemicals, food processing and packaging, and energy production and processing. More information on Air Products' PRISM offerings can be found at: http://www.airproducts.com/en/products/Gases/supply-options/onsite-gas-generation.aspx.
About Air Products
Air Products (NYSE: APD) serves customers in industrial, energy, technology and healthcare markets worldwide with a unique portfolio of atmospheric gases, process and specialty gases, performance materials, and equipment and services. Founded in 1940, Air Products has built leading positions in key growth markets such as semiconductor materials, refinery hydrogen, home healthcare services, natural gas liquefaction, and advanced coatings and adhesives. The company is recognized for its innovative culture, operational excellence and commitment to safety and the environment. In fiscal 2010, Air Products had revenues of $9 billion, operations in over 40 countries, and 18,300 employees around the globe. For more information, visit www.airproducts.com.
About INEOS Bio
INEOS Bio is a BioEnergy company commercializing and licensing its novel thermo-chemical and bio-chemical technology for the production of renewable biofuels and renewable energy from a wide range of low-cost carbon materials. The company's initial focus is the commercialization of the world's leading third-generation ethanol technology process to serve the global renewable fuels and the renewable energy markets. INEOS Bio is one of the global businesses in INEOS. For more information, visit www.ineosbio.com.
***NOTE: This release may contain forward-looking statements within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management's reasonable expectations and assumptions as of the date of this release regarding important risk factors. Actual performance and financial results may differ materially from projections and estimates expressed in the forward-looking statements because of many factors not anticipated by management, including risk factors described in the Company's Form 10K for its fiscal year ended September 30, 2010.
SOURCE Air Products
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