Maire Tecnimont’s wholly owned subsidiary METGAS Processing Technologies (METGAS) and Mitsubishi Chemical Corporation (“MCC”) have signed agreement concerning the future commercialization of the combination of both parties’ technologies for the production of propylene derivatives chemicals starting from gas rich in methane feed-stock (The Package Technologies). METGAS specialises in the development and commercialization of new gas transformation technologies.
The Package Technologies will combine with METGAS’ “Gas to Propylene” Technology, which is being developed jointly with Siluria Technologies Inc, with MCC Technologies for the production of “OXO Alcohols”, “Acrylic Acid” and “Acrylic Ester”. Under the agreement, METGAS will lead the licensing activities of the Package Technologies on worldwide basis.
According to Pierroberto Folgiero, CEO, Maire Tecnimont, “With this agreement we expand our technological portfolio, in line with our industrial strategy committed to continuous innovation. We are eager to work closely with a prestigious partner such as MCC and leverage our technology-driven expertise in olefins derivatives”.
The agreement enables METGAS expand its portfolio to downstream Propylene technologies, and will be able to provide access to the production of the above chemicals in countries where only natural gas is available.
Today, the cumulative consumption of Propylene to produce OXO Alcohols, Acrylic Acid and Acrylic Ester represents about 15% of the global Propylene Market with a compounded annual growth rate of about 5%.