All Posts from July 29, 2022

ICL, PlantArcBio Partner on Biostimulants

Israel, News, News Briefs, Specialty

ICL, Tel Aviv, andpublic ag-biotech company PlantArcBio, Ltd., Givat Hen, Israel, on July 19 announced the development of a novel biostimulant technology platform that they said will improve crop yields while having a minimal impact on the environment.

The platform successfully uses RNAi technology to maximize a plant’s natural yield increase mechanisms without any genetic modification, and was the result of a multi-year research collaboration between the two companies.

In early-stage canola field trials, the platform significantly increased seed weight per hectare for canola crops, according to the parties, who said they are planning larger-scale field trials in 2022. These will include testing the new technology platform using both commercial sprayers and standard farming practices. Greenhouse trials for soybeans and rice are already in progress, with early results showing good potential.

“The use of novel biostimulants based on RNAi technology helps promote sustainability, by reducing the use of chemicals in agriculture,” said Hadar Sutovsky, Vice President of External Innovation and General Manager of ICL Planet. “This aligns perfectly with ICL’s long-term goal of creating impact and sustainable growth in the agriculture end-market, alongside ensuring food security.

“ICL and PlantArcBio have filed for a joint patent on the application for multiple crops,” added Sutovsky. “The application does its work, then rapidly disappears from both the plants and the environment, lasting no more than a few days, as it is highly biodegradable and also leaves no residual footprint.”

“The positive canola field trial results constitute another milestone in strengthening PlantArcBio’s capabilities in the development of RNAi-based products,” said Dror Shalitin, Ph.D., founder and CEO of PlantArcBio. “ICL, a market leader in crop nutrition products, is a great strategic partner for us to commercialize this sustainable technology worldwide.”

Earnings Preview: CF 2Q Net Income Expected to Quadruple; Mosaic Triple, Nutrien Nearly So

Earnings, Featured, News

Major fertilizer companies are expected to see a huge increases in second-quarter earnings over the year-ago period, with the Bloomberg Consensus, the average estimates from major analysts, seeing a quadrupling for CF Industries Holdings Inc. to $1.3 billion, up from the year-ago $246 million.

The Mosaic Co. is expected to triple net income to $1.4 billion from $437.2 million, while Nutrien Ltd. will almost triple net income to $3.16 million versus the year-ago $1.11 million.

CF and Mosaic are scheduled to release earnings after markets close on Aug. 1, and Nutrien on Aug. 3.

Mosaic 2Q-22 Bloomberg Consensus 2Q-21 Actual
Revenues $5.67 billion $2.8 billion
Net Income $1.4 billion $437.2 million
Adj. EBITDA $2.18 billion $829 million
Nutrien 2Q-22 Bloomberg Consensus 2Q-21 Actual
Revenues $14.6 billion $9.76 billion
Net Income $3.16 billion $1.11 billion
Adj. EBITDA $4.9 billion $2.2 billion
CF 2Q-22 Bloomberg Consensus 2Q-21 Actual
Revenues $3.5 billion $1.59 billion
Net Income $1.3 billion $246 million
Adj. EBITDA $1.87 billion $599 million

Bion Works Toward Beef Joint Venture

News, News Briefs, Northeast, Specialty, Texas

Bion Environmental Technologies Inc., New York City, a developer of advanced livestock waste treatment technology, on July 25 announced that it has signed a Letter of Intent (LOI) with Ribbonwire Ranch to build a 15,000-head sustainable beef cattle feeding operation in Dalhart, Texas. Bion said the facility will include innovative barn systems, anaerobic digesters, and Bion’s waste treatment technology.

Bion and Ribbonwire will work together to create a definitive joint venture this fall, allowing plans to move forward to commence construction of the Dalhart sustainable beef facility during 2023. The LOI contains a provision to allow expansion of the project to four phases, representing 60,000-head capacity, or annual production of 180,000 head.

Bion said its patented technology will refine the waste stream into valuable coproducts that include clean water, renewable natural gas (RNG), and organic fertilizer products. It said the revenues generated from these new product lines will transform a cattle feeder from a marginally profitable business into a lucrative one.

Alberta to Fund Hydrogen Projects

Alberta, Hydrogen, News, News Briefs

Alberta’s Hydrogen Centre of Excellence, funded through the Government of Alberta and led by Alberta Innovates, a research institute in Calgary, is seeking project proposals focused on hydrogen production, storage, transmission, end use, increased competitiveness, and economic diversification.

The centre will invest C$20 million in funding to support the successful hydrogen projects over 24 months. This funding comes from the Alberta government’s investment of $50 million to launch the Hydrogen Centre of Excellence in April 2022. Up to $2 million is available per project.

The Alberta Advancing Hydrogen – Competition 1 program is now accepting applications. Information on how to apply is available on the Hydrogen Centre of Excellence website. Initial intake submissions are due Sept. 5, with full proposals of approved projects due Nov. 18.

Egypt, ReNew Power Ink Green MOU

Egypt, Green Hydrogen, India, News, News Briefs

Egypt and ReNew Power, Gurugram, India, have signed a Memorandum of Understanding (MOU) to establish green hydrogen factory in the Suez Canal Economic Zone with an expected $8 billion investment that would include green hydrogen and ammonia production, according to Bloomberg, citing the Egyptian Cabinet.

The first, experimental phase would produce 20,000 mt/y of green hydrogen with a 150 MW electrolyzer and 570 MW of renewable energy, with the production of 100,000 mt/y of green ammonia.

The MOU includes expanding hydrogen to 200,000 mt/y with a 1.5 gigawatt electrolyzer and 5.68 gigawatts of renewable energy, with the production of 1 million mt/y of green ammonia.

Egypt plans to eventually raise total green hydrogen capacity to 220,000 mt/y.

Kenya Eyes Green Production

Africa, Ammonia, Green Hydrogen, News, News Briefs

Kenya Electricity Generating Co. (KenGen) wants to determine the viability of green hydrogen, ammonia, and fertilizer production at its Olkaria power plant, Nairobi-based Business Daily newspaper reported, citing tender documents. KenGen is seeking consultants to prepare a feasibility study, which will determine the size of the proposed plant and construction timelines

The Olkaria geothermal fields cover over 20,400 hectares, and in addition to electricity production at the site, the brine waters contain potential byproducts – borates, silica, and lithium.

ACWA Power, POSCO Explore Green Products

Green Ammonia, Green Hydrogen, News, News Briefs, Saudi Arabia, South Korea

Saudi Arabia’s ACWA Power, Riyadh, and South Korean steel producer POSCO Holdings, Pohang, a holding company for POSCO Group, on July 19 announced the signing of a Memorandum of Understanding (MOU) to jointly explore production of green hydrogen and green ammonia to decarbonize POSCO’s power generation and steel manufacturing, as well as to serve POSCO clients.

POSCO is targeting the production of 500,000 mt/y of hydrogen by 2030.

Lotte, Itochu Sign Hydrogen/Ammonia MOU

Ammonia, Hydrogen, Japan, News, News Briefs, South Korea

South Korean petrochemical producer Lotte Chemical Corp., Seoul, and Japanese trading firm Itochu, Tokyo, on July 22 announced that they have signed a Memorandum of Understanding (MOU) to cooperate in business including ammonia trading, ammonia infrastructure, and hydrogen-ammonia market development. The two will also jointly invest in ammonia production facilities and explore further cooperation in hydrogen.

“Lotte Chemical’s ammonia distribution and infrastructure and business experience, together with Itochu Corp.’s ammonia bunkering knowhow and global networks, will lead to significant footsteps to carbon neutralization,” said Hwang Jin-koo, the Head of Hydrogen Energy Division (President of Basic Material Division).

Lotte has set a goal to invest US$4.6 billion by 2030 to produce 1.2 million mt of clean hydrogen, which would be used for power generation, fuel cells, gas turbines, and transport. The hydrogen would be produced abroad and converted to ammonia for stable storage and transport to Korea.

ONGC, Greenko Partner Sign MOU to Produce Green Hydrogen and Ammonia

Green Ammonia, Green Hydrogen, India, News, News Briefs

Indian State-owned Oil and Natural Gas Corp. Ltd. (ONGC), New Delhi, has signed a Memorandum of Understanding (MOU) with clean energy company Greenko Group, New Delhi, for the production of green hydrogen, green ammonia, and other derivatives, according to Bloomberg.

The deal will help India reach its goal of producing 5 million mt/y of green hydrogen by 2030. The parties are planning to jointly develop a 1 million mt/y green ammonia plant and storage facility to serve the export market, according to India’s Mint financial newspaper.

Carrot Producer Assessed $214,103 Penalty Related to Ammonia Leak

Ammonia, California, News, News Briefs

The U.S. EPA on July 27 announced a settlement with Grimmway Enterprises Inc., Bakersfield, Calif., the world’s largest carrot producer, for violations of the Clean Air Act and the emergency notification-related requirements of two other federal laws at its Arvin, Calif., facility. The company will pay $214,103 in civil penalties.

EPA said approximately 2,335 pounds of anhydrous ammonia were released at the Arvin facility on Aug. 29, 2019. A subsequent EPA inspection found Grimmway failed to notify state emergency authorities and the National Response Center immediately after the release.

The inspection also revealed that Grimmway did not have required safety information for equipment, such as pressure relief valves; lacked required safety equipment, such as chlorine sensors or alarms; was missing some required operating procedures for its ammonia refrigeration equipment; and failed to have procedures in place to notify the appropriate agencies about chemical releases.

The settlement relates to violations of the Clean Air Act’s Risk Management Program, as well as the reporting requirements of the Comprehensive Environmental Response, Compensation, and Liability Act and the Emergency Planning and Community Right-to-Know Act. In response to EPA’s enforcement action, Grimmway returned to compliance and agreed to pay the civil penalty.

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