COLUMBIA, Md., March 04, 2019 (GLOBE NEWSWIRE) -- Advanced Refining Technologies LLC (ART Hydroprocessing) and Gladieux Metals Recycling, LLC (GMR) today announced a Memorandum of Understanding (MoU) to explore a full-cycle catalyst management service for hydroprocessing catalysts in North America.
The MoU, signed by ART Hydroprocessing Managing Director André Lanning and GMR President Ruchir Kadakia, outlines a framework for ongoing collaboration between the two companies to expand the use of recycled metals recovered from spent hydroprocessing catalysts, the catalysts used by leading refiners to produce cleaner fuels. Under the agreement, ART and GMR agree to identify and partner on certain spent catalyst reclamation services and metals supply arrangements using proprietary processes at GMR’s Freeport, TX facility.
“Partnering with GMR enables ART to provide a convenient and environmentally sustainable solution for our customers,” said André Lanning, “It is part of our targeted strategy for full-cycle catalyst management services.”
“The synergy between ART and GMR will be of great benefit to the environment and our customers,” said GMR President Ruchir Kadakia. “With a true recycling option, customers can better manage their environmental risk and reduce the impact of volatility in the metals market.”
About ART Hydroprocessing
ART Hydroprocessing (ART), a Chevron and Grace joint venture, is a leading supplier of hydroprocessing catalysts that produce cleaner fuels. ART offers a complete portfolio of resid hydrotreating, resid and conventional hydrocracking and lubes hydroprocessing, and distillate hydrotreating catalyst technologies through a global manufacturing network. ART combines Chevron’s extensive expertise in refining operations, catalyst technology and development, process design leadership, and licensing with Grace’s materials science, specialty chemical manufacturing, and global sales and technical service strengths, to improve refiners’ profitability through catalytic solutions that improve the quality and yields of fuels refined from a wide variety of feedstocks.
About Gladieux Metals Recycling
Gladieux Metals Recycling, LLC (GMR), one of the leaders of spent petroleum catalyst recycling since 1973, recovers molybdenum, vanadium, nickel, cobalt, and various alumina products used in chemical and metallurgical applications. GMR provides streamlined, end-to-end, verified tracking, delivering best-in-class circular economy solutions. For years, GMR has been ahead of its time in delivering sustainable technologies and best practices in product stewardship.
ART Hydroprocessing™ (Advanced Refining Technologies LLC or ART), is a joint venture between subsidiaries of Chevron Corporation and W. R. Grace & Co. This announcement contains forward-looking statements, that is, information related to future, not past, events. Such statements generally include the words “believes,” “plans,” “intends,” “forecasts,” “targets,” “will,” “expects,” “anticipates,” “outlook,” or similar expressions. Forward-looking statements include, without limitation: expected financial positions; results of operations; cash flows; business strategy; and markets for securities. For these statements, the joint venture and its affiliates claim the protections of the safe harbor for forward-looking statements contained in Section 27A of the Securities Act and Section 21E of the Exchange Act. Like other businesses, the joint venture and its affiliates are subject to risks and uncertainties that could cause actual results to differ materially from its projections or that could cause other forward-looking statements to prove incorrect. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the dates those statements are made. The joint venture and its affiliates undertake no obligation to release publicly any revision to the forward-looking statements contained in this announcement, or to update them to reflect events or circumstances occurring after the date of this announcement.
Media Relations Contact
Shelly DeButts
+1 410.531.4415
shelly.debutts@grace.com
or
W. R. Grace & Co. Media Relations Contact
Rich Badmington
+1 410.531.4370
rich.badmington@grace.com
W. R. Grace & Co. Investor Relations Contact
Jeremy Rohen
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jeremy.rohen@grace.com
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