Technip Energies and Mitsubishi announce licensing of improved OXO alcohol technology ’OXO M-Process’


Technip Energies (PARIS:TE) and Mitsubishi Chemical Corporation (Mitsubishi Chemical), a member of the Mitsubishi Chemical Group, announced that they are licensing an improved OXO alcohol technology, named ‘OXO M-Process’. OXO alcohols are used as solvents in chemical manufacturing. The improved OXO-M technology reduces related capital and operating expenses of separation and purification by minimizing the production of isobutyraldehyde – used in manufacturing processes for plasticizers, resins and solvents – eliminating the need to manage it as a by-product.

Technip Energies and Mitsubishi Chemical jointly researched and developed further enhancements to Mitsubishi Chemical's ‘OXO M-Process’ technology, including an OXO catalyst management system. The technology produces n-butanol, an important product used for paints and coatings, and 2-ethylhexanol, a product to make plastic products more flexible, at high selectivity.

Bhaskar Patel, Senior Vice President, Sustainable Fuels, Chemicals & Circularity of Technip Energies stated, “There is a growing demand for OXO alcohol to meet the commercial needs in solvent and plasticizers markets. Our technology and R&D facilities in Boston, in cooperation with the Mitsubishi Chemical team, played a vital role in bringing the catalyst management system to realization. Technip Energies is pleased to collaborate with Mitsubishi Chemical on OXO M-Process technology and to bring this technology to market.”

Masaru Utsunomiya, Director, RD&IP Div., Basic Materials & Polymers Business Group of Mitsubishi Chemical stated, “Mitsubishi Chemical is actively promoting the license of petrochemical product technologies. This cooperation with Technip Energies definitively strengthens our licensing business, especially for the C3 derivatives chain i.e., DTP (Methanol to Propylene), Acrylic Acid and OXO Alcohol technology. Mitsubishi Chemical’s licensing business is growing while also contributing to the reduction of GHG emissions.”   

About Technip Energies

Technip Energies is a leading Engineering & Technology company for the energy transition, with leadership positions in LNG, hydrogen and ethylene as well as growing market positions in blue and green hydrogen, sustainable chemistry and CO2 management. The Company benefits from its robust project delivery model supported by an extensive technology, products and services offering.

Operating in 34 countries, our 15,000 people are fully committed to bringing our clients’ innovative projects to life, breaking boundaries to accelerate the energy transition for a better tomorrow.

Technip Energies shares are listed on Euronext Paris. In addition, Technip Energies has a Level 1 sponsored American Depositary Receipts (“ADR”) program, with its ADRs trading over the counter.
For further information: www.ten.com

About Mitsubishi Chemical Group

Mitsubishi Chemical Group Corporation (TSE: 4188) is a specialty materials provider with an unwavering commitment to lead with innovative solutions to achieve KAITEKI, the well-being of people and the planet. We bring deep expertise and material science leadership in core market segments such as mobility, digital, medical and food. In this way, we enable industry transformation, technology breakthroughs, and longer, more fruitful lives for us all. Together, around 70,000 employees worldwide provide advanced chemistry-based solutions to deliver the core elements of our slogan — “Science. Value. Life.” For further information, please visit our website: https://www.mcgc.com/english/

Contacts

Technip Energies
Annette Morgan
Head of Marketing & Communications,
Sustainable fuels, Chemicals & Circularity
Tel: +1 281-249-2475
Email: annette.morgan@ten.com

Mitsubishi Chemical Group Corporation
Media Relations Department, Corporate Communications Division
Tel: +81-3-6748-7140
Email: Contact form
                

Important Information for Investors and Securityholders

Forward-Looking Statements

This press release contains forward-looking statements that reflect Technip Energies’ (the “Company”) intentions, beliefs or current expectations and projections about the Company’s future results of operations, anticipated revenues, earnings, cashflows, financial condition, liquidity, performance, prospects, anticipated growth, strategies and opportunities and the markets in which the Company operates. Forward-looking statements are often identified by the words “believe”, “expect”, “anticipate”, “plan”, “intend”, “foresee”, “should”, “would”, “could”, “may”, “estimate”, “outlook”, and similar expressions, including the negative thereof. The absence of these words, however, does not mean that the statements are not forward-looking. These forward-looking statements are based on the Company’s current expectations, beliefs and assumptions concerning future developments and business conditions and their potential effect on the Company. While the Company believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting the Company will be those that the Company anticipates.

All of the Company’s forward-looking statements involve risks and uncertainties, some of which are significant or beyond the Company’s control, and assumptions that could cause actual results to differ materially from the Company’s historical experience and the Company’s present expectations or projections. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those set forth in the forward-looking statements.

For information regarding known material factors that could cause actual results to differ from projected results, please see the Company’s risk factors set forth in the Company’s 2023 Annual Financial Report filed on March 8, 2024, with the Dutch Autoriteit Financiële Markten (AFM) and the French Autorité des Marchés Financiers (AMF) which include a discussion of factors that could affect the Company’s future performance and the markets in which the Company operates.

Forward-looking statements involve inherent risks and uncertainties and speak only as of the date they are made. The Company undertakes no duty to and will not necessarily update any of the forward-looking statements in light of new information or future events, except to the extent required by applicable law.

Attachments


OXO

Pièces jointes

PR_TE.N_Mitsubishi_OXO_EN