THE
WOODLANDS, Texas, Sept. 26,
2023 /PRNewswire/ -- Huntsman Corporation (NYSE: HUN)
today announced construction has commenced on the 30-ton
MIRALON® carbon nanotube materials plant, originally
announced at Huntsman's 2021 Investor Day event. The new plant,
which converts methane gas to carbon nanotubes and clean-burning
hydrogen, will be one of the largest of its kind in the Americas.
It represents a major step forward in the commercialization of the
innovative MIRALON® technology and another step closer
to an industrial-scale production facility.
"Our business prides itself on bringing advanced materials to
market to help our customers solve difficult engineering challenges
through innovation," said Scott
Wright, President of Huntsman's Advanced Materials division.
"Today marks a significant step forward in the development of a new
class of valuable, sustainable material."
MIRALON® structural carbon products are carbon
nanotube-based advanced materials, which can be produced as sheets,
tape, yarn, or additives and dispersions. Thinner than a human hair
and up to 25 times stronger than steel, MIRALON® carbon
nanotube materials are lightweight and electrically and thermally
conductive – attributes that can benefit a wide variety of
applications in aerospace, automotive, construction and other
industries. MIRALON® carbon nanotube materials can be
used in electric vehicle batteries, high-performance composites,
engineered thermoplastics, conductive adhesives, specialized
concrete, and longer-wear tires.
"One of the interesting aspects of this project is that there
are actually two valuable products created through the
technology," said David Hatrick,
Vice President of Innovation and Strategic Marketing for Huntsman's
Advanced Materials division. "The first product is the
MIRALON® carbon nanotube materials which have tremendous
opportunity to create better products and new applications that
don't even exist today. The second product resulting from the
process is clean hydrogen – a fuel in high demand as society
collectively seeks to lower CO2 emissions and accelerate
the energy transition."
The manufacturing process produces clean hydrogen as a
by-product, with little to no CO2 emissions. This can
play an exciting role in energy transition by minimizing the carbon
footprint of many industries, explained John Fraser, Commercial Director for
MIRALON® technology and materials.
"The carbon footprint related to our manufacturing process can
be up to 95% less, when compared to the traditional process of
steam methane reforming (SMR), avoiding the majority CO2
emissions normally associated with hydrogen production," Fraser
said. "Co-locating a small MIRALON® manufacturing unit
on a customer's site, creates the opportunity to produce hydrogen
right where our customers need it. This will allow companies to
reduce their carbon footprint and benefit from the potential of
CO2 sequestration/capture credits."
The new plant is expected to be completed by year-end 2023, in
line with commitments made at our 2021 Investor Day. In the
meantime, our technical and commercial teams are engaging with
customers looking to develop innovative solutions
with MIRALON® materials. To learn more, or to get
in touch with a MIRALON® representative, please visit
www.miralon.com.
About Huntsman:
Huntsman Corporation is a publicly
traded global manufacturer and marketer of differentiated and
specialty chemicals with 2022 revenues of approximately
$8 billion from our continuing
operations. Our chemical products number in the thousands and are
sold worldwide to manufacturers serving a broad and diverse range
of consumer and industrial end markets. We operate more than
60 manufacturing, R&D and operations facilities in
approximately 30 countries and employ approximately 7,000
associates within our continuing operations. For more information
about Huntsman, please visit the company's website
at www.huntsman.com.
Social
Media:
Twitter: www.twitter.com/Huntsman_Corp
Facebook: www.facebook.com/huntsmancorp
LinkedIn: www.linkedin.com/company/huntsman
Forward-Looking Statements:
Certain information in
this release constitutes forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934. These statements are
based on management's current beliefs and expectations. The
forward-looking statements in this release are subject to
uncertainty and changes in circumstances and involve risks and
uncertainties that may affect the company's operations, markets,
products, services, prices and other factors as discussed under the
caption "Risk Factors" in the Huntsman companies' filings with the
U.S. Securities and Exchange Commission. Significant risks and
uncertainties may relate to, but are not limited to, volatile
global economic conditions, cyclical and volatile product markets,
disruptions in production at manufacturing facilities,
reorganization or restructuring of Huntsman's operations, including
any delay of, or other negative developments affecting the ability
to implement cost reductions, and manufacturing optimization
improvements in Huntsman businesses and realize anticipated cost
savings, and other financial, economic, competitive, environmental,
political, legal, regulatory and technological factors. The company
assumes no obligation to provide revisions to any forward-looking
statements should circumstances change, except as otherwise
required by applicable laws.
While all the information and recommendations in this
publication are to the best of our knowledge, information and
belief accurate at the date of publication, NOTHING HEREIN IS
TO BE CONSTRUED AS A WARRANTY, EXPRESS OR OTHERWISE.
IN ALL CASES, IT IS THE RESPONSIBILITY OF THE USER TO
DETERMINE THE APPLICABILITY OF SUCH INFORMATION AND RECOMMENDATIONS
AND THE SUITABILITY OF ANY PRODUCT FOR ITS OWN PARTICULAR
PURPOSE. The sale of products referred to in this
publication is subject to the general terms and conditions of sale
of Huntsman International LLC or of its affiliated
companies.
MIRALON® is a trademark of Huntsman Corporation, or an
affiliate thereof in one or more, but not all countries.
© 2023 Huntsman International LLC
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SOURCE Huntsman Corporation