Clariant AG (CLN.SW, CLZNY), a Swiss specialty chemicals company, on Tuesday announced that it has signed a strategic cooperation agreement with Shanghai Boiler Works, a subsidiary of Shanghai Electric Group Co., Ltd (SIELY,601727.SS), to jointly drive innovation in sustainable energy solutions in China.
The partnership agreement was officially signed last week at the Clariant Innovation Center in Frankfurt, Germany.
Under the agreement, Shanghai Electric's expertise in process engineering and plant design will be combined with Clariant's advanced catalyst technologies.
The partnership will cover joint research and development, engineering design services, supply of chemical equipment, and turnkey project solutions.
Clariant will contribute its extensive know-how and high-performance catalysts for the production of green methanol, e-methanol, green ammonia, sustainable aviation fuel, and gas purification.
The agreement follows their successful collaboration on a biomass-to-green methanol project in Taonan, Jilin Province.
In the project's first phase, the chemical company supplied its MegaMax catalysts and offered on-site technical support for the startup of a 50,000 tons-per-year green methanol plant.
The second phase is set to begin production in 2027 and will expand capacity to 200,000 tons of green methanol and 10,000 tons of sustainable aviation fuel annually.
On Monday, Clariant closed trading, 0.68% lesser at CHF 8.80 on the Swiss Stock Exchange.
On Monday, Shanghai Electric closed trading, 5.36% higher at CNY 8.27 on the Shanghai Stock Exchange.
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