All posts by mickeybarb@charter.net

CF to be Strategic Partner in Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping

Eastern Cornbelt, News, News Briefs, Scandinavia

CF Industries Holdings Inc., Deerfield, Ill., said on May 16 that it will become a Strategic Partner with the Copenhagen-based Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping, committing to a long-term strategic collaboration and contribution to the development of zero carbon technologies and solutions for the maritime industry.

CF said as one of the world’s leading ammonia producers, it brings decades of experience in safe production, storage, transport, and trade of ammonia, and is supporting global decarbonization by producing nearly 2 million tons of low-carbon ammonia production capacity by 2024. This includes installing a 20MW electrolyzer to enable the production of green ammonia at its Donaldsonville Complex in Louisiana.

“As a U.S.-based producer, CF Industries brings additionality to the Center’s established partner portfolio from both a geographical and a value chain perspective, said Center CEO Bo Cerup-Simonsen. “This will significantly compliment and strengthen our ability to work, collaborate, and create impact on enabling robust low-emission ammonia fuel pathways, addressing safety topics on handling and operation of ammonia, and creating robust engagement on regulatory topics.”

The Center is a not-for-profit, independent research- and development center working across the energy and shipping sectors with industry, academia, and authorities. With partners, it explores viable decarbonization pathways, facilitates the development and implementation of new energy technologies, builds confidence in new concepts and their supply chains, and accelerates the transition by defining and maturing viable strategic pathways to the required systemic change.

The Center was founded in 2020 with a start-up donation of DKK400 million from the A.P. Moller Foundation. Corporate partners include Alfa Laval, American Bureau of Shipping, A.P. Moller – Maersk, bp, Cargill, CF, DP World, Hapag-Lloyd, MAN Energy Solutions, Mitsubishi Heavy Industries, Mitsui, Norden, NYK Line, Seaspan Corp., Siemens Energy, Stolt Tankers, Sumitomo Corp., Swire Group, Topsoe, TotalEnergies, and V.Group.

LSB Industries Announces Stock Repurchase

News, News Briefs, Southern Plains

LSB Industries Inc., Oklahoma City, on May 16 announced that its Board of Directors has authorized a stock repurchase program under which LSB may repurchase up to $50 million of its outstanding common stock through the duration of the authorization.

“This authorization reflects our confidence in LSB’s outlook for 2022 and beyond,” said LSB President and CEO Mark Behrman. “The addition of the share repurchase program as another option to deploy capital highlights the strength of our balance sheet. We remain committed to driving shareholder value through continued operational improvement, execution on our organic growth opportunities, potential strategic acquisitions, and the repurchase of our common stock.”

Alfa Laval Acquires Ammonia-to-Hydrogen Technology

Ammonia, Hydrogen, News, News Briefs, Scandinavia

Alfa Laval, Lund, Sweden, said on May 2 that it has acquired patented technology from the Danish company RenCat to reform hydrogen from ammonia.

The company said this technology, in combination with Alfa Laval’s heat transfer expertise, will increase the business opportunities within the growing market for hydrogen processing, facilitating the use of renewable fuels in the future. The first products based on the technology are expected to be launched by the end of 2023.

AmmPower Produces First Ammonia

Ammonia, Canada, News, News Briefs

AmmPower Corp., Toronto, announced that its in-house designed, 50-kilogram-per-day IAMMTM (Independent Ammonia Making Machine‎TM) demonstration unit (GM March 25, p. 32) is now operational. AmmPower produced its first ammonia using this demonstration unit on May 16, 2022.

“The demonstrated success of our IAMMTM technology is a TRL 6 (Technology Readiness Level) event, serving as a major milestone for AmmPower,” said Dr. Gary Benninger. “It validates our technology and our approach to IAMMTM modularization. We are proud of what our team has accomplished in just six months.” The production team, led by General Manager Greg Barranger and Chief Technologist Dr. Zhenyu Zhang, have begun patent submissions around the IAMMTM process of green ammonia production.

The technology used in this demonstration unit will be scaled up for use in AmmPower’s 4 metric ton per day IAMMTM unit, which is also being designed in-house. The target market for the full-scale units will be the independent distributors and retailers of anhydrous ammonia used for fertilizer. The company is targeting first-quarter 2023 for first deliveries. The company earlier suggested a price tag of $3-$3.5 million.

“The interest in our IAMMTM units has been strong,” said AmmPower President Rene Bharti. “The concept of economical, distributed production is a major disruptor in the way ammonia is produced and transported for agricultural use. This would put AmmPower in position to be at the forefront of green ammonia production for the agricultural arena.”

“The IAMMTM unit is something that has been missing in the agricultural world,” said Eric Kelley, AmmPower Head of Agriculture. “Allowing for ammonia production, on location, providing fertilizer for dealers and growers, is something that has rarely been seen before in modern farming history. The fact that the IAMM™ unit also comes with carbon credits and allows farmers to take a renewable and green approach to their livelihood is the future of farming.”

PhosAgro Secures Permission to Maintain Foreign Listing

London, News, News Briefs, Russia

PhosAgro PJSC, Moscow, has secured formal permission from the Russian government’s Commission on Monitoring Foreign Investments for the group to maintain its global depositary receipts program and circulation of securities issues as part of the program, the fertilizer group said on May 19. Permission has been granted for an indefinite term.

Fellow Russian fertilizer producer PJSC Acron Group last month decided to terminate its GDR listing on the London Stock Exchange (LSE), and expects the final day of GDRs trading on the LSE will be May 24 (GM April 29, p. 32).

Test Shows Arianne’s Phosphate Can Target Both Ag and Specialty Markets

Canada, News, News Briefs, Phosphate

Arianne Phosphate, Saguenay, Quebec, a development-stage phosphate mining company advancing its Lac à Paul project in Quebec’s Saguenay-Lac-Saint-Jean region, said on May 18 that it has successfully tested an enhanced process that will allow the company to optimize its high-purity phosphate concentrate for specific end markets.

Working with Corem, a Quebec-based company specializing in mineral processing, Arianne produced both a low MER (minor element ratio) and higher MER phosphate concentrate using high intensity magnetic separation. The company said the results demonstrated that Arianne’s phosphate concentrate can be further optimized to meet target markets with an easy addition to the process flowsheet. The low MER material is of interest to those looking for specialty phosphate applications, such as high-purity acid used in lithium-iron-phosphate (LFP) batteries, while the higher MER concentrate would be of interest for direct application fertilizers, as it would be higher in beneficial micronutrients such as iron.

“Due to the nature of Arianne’s phosphate concentrate, the company has been approached by participants outside of the traditional fertilizer industry,” said Brian Ostroff, Arianne President. “With this work complete, Arianne continues to demonstrate the superiority of its phosphate concentrate and will allow the company to produce a concentrate specifically targeted for its end use. Further, by opening up additional premium markets, it allows greater commercial opportunities for our investors and stakeholders at a time when macro events have driven phosphate demand and forced buyers to try and secure their supplies from safer geopolitical jurisdictions.”

In other news, Arianne announced a grant of 500,000 stock options to Jeffrey Beck, Arianne CEO, in lieu of any salary or cash remuneration. These options entitle the holder to purchase one common share of the company until May 17, 2032, at a price of $0.55 per share, this being the closing price of the company’s shares on the trading day preceding the date of the grant.

The options are subject to a vesting period and are also subject to regulatory approval. “After having spent the last year at Arianne and watching its progression, the ability to tie my remuneration to the future fortunes of the company was a welcomed opportunity,” said Beck.

Western Potash Inks Construction Contract; K Production Expected in 3Q 2023

News, News Briefs, Potash, Vancouver

Western Potash Corp., Vancouver, said on May 17 that it has entered into a cost-reimbursable construction services agreement with Stuart Olson Prairie Construction Inc., a wholly-owned subsidiary of Ontario-based Bird Construction Inc., as general contractor to continue the bulk of the remaining construction work for the Milestone Phase I Project in Saskatchewan. Project construction was put on hold in May 2020, when the process plant was approximately 50% complete.

The agreement resolves all prior outstanding issues between Western and Bird and establishes a new time- and material-based contract governing completion of the remaining project work. The scope of work will be focused on process plant section completion, including certain steel and pipework, completion of major equipment installation, electrical and control system completion, building, and site work.

Bird will begin mobilization in early June, with an anticipated maximum workforce of around 100 people expected at the site. Construction is expected to be completed by second-quarter 2023, followed by a three-month general commissioning, with production to start up in third-quarter 2023.

Pursuant to the agreement and in exchange for the cancellation of amounts owing to Bird, Western has made a cash payment of $14 million to Bird and will cause the company to issue 10,000,000 warrants to Bird as part of the settlement for debt previously owed to Bird. This will allow Bird, after exercise, to acquire up to 10,000,000 common shares of the company, which as of the date of the release represents 5.34% of the company’s issued and outstanding common shares, and will represent up to 5.07% of the company’s issued and outstanding common shares on a post-transaction basis.

Western also announced that Alex Watson and Randy Lange have both joined Western and will lead its construction management team as, respectively, Project Sponsor and site Construction Manager.

In other news, Western reported on May 16 that it has closed the first tranche, in the amount of C$45 million, of its loan transaction with Appian Capital Advisory LLP, the terms of which were previously announced in April (GM April 29, p. 29). The first tranche will be used for the immediate restart of Milestone construction and continue with its optimized mining development plan. The funding will also be applied in the settlement of all outstanding legal claims against Western and the removal of all liens related to those claims.

Two Tons of Urea Spill into N.D. River

News, News Briefs, Northern Plains, Urea

Agtegra Cooperative, Aberdeen, S.D., on May 17 notified North Dakota state agencies that a dry urea fertilizer spill resulted from a vehicle accident in Grant County, according to the N.D. Department of Environmental Quality (DEQ). No injuries were reported. The incident caused about two tons of fertilizer to enter the Heart River 18 miles southeast of Glen Ullin.

DEQ personnel inspected the site and took water samples and will continue to monitor the investigation and remediation. The DEQ told The Bismarck Tribune the river is not a drinking water source and that the fertilizer should be significantly diluted prior to reaching the nearest drinking water source along the Missouri River. DEQ also cited the high water level of the river as a positive factor in the dilution.

GrowGeneration Launches Drip Hydro

News, News Briefs, Southern Plains, Specialty

Hydroponic supplier GrowGeneration Corp., Greenwood Village, Colo., has announced that select stores will begin selling its Drip Hydro liquid fertilizer line. Drip Hydro consists of a five-part fluid program formulated with the bio-available chelates and pharmaceutical grade salts.

In addition to NPKs, the program includes calcium, magnesium, and hypochlorous acid. It said these ingredients help unlock maximum genetic potential for plants and allow for a higher gram per square foot ratio. Drip Hydro was developed by Rex Gill, founder of Power Si, a patented formula of mono-silicic acid for crops, along with Robert (Bear) Masterson, the former owner of The Harvest Co.