July 23, 2008
Albemarle Receives Significant Award to Supply Innovative Catalysts for World’s First Fully Commercial Renewable Diesel Production
To: ENERGY EDITORS
(Logo: http://www.newscom.com/cgi-bin/prnh/20050801/ ALBEMARLELOGO)
This proprietary NExBTL process, the world's first fully commercial renewable diesel production process, delivers an advanced fuel based on renewable raw materials that performs more efficiently and has a lower level of environmental impact than fossil diesel or FAME-type (fatty acid methyl ester) biodiesel. Neste Oil and Albemarle have worked together for several years to develop the catalysts for the NExBTL renewable diesel process. Albemarle's multi- year order with Neste includes scheduled deliveries of the catalysts for 2008, 2009 and 2010.
Neste Oil currently operates one NExBTL plant in Porvoo, Finland, with a second NExBTL diesel plant under construction in Porvoo. Neste Oil is also currently building world-scale NExBTL plants in Singapore and Rotterdam, and has ambitious plans for further growth of NExBTL diesel business.
"Creating products that meet societal needs in a sustainable manner is our primary focus," said Mark C. Rohr, president and chief executive officer of Albemarle. "This latest order further demonstrates our ability to develop state-of-the-art clean energy solutions and bring them from lab to market quickly and effectively. Albemarle will continue to be the leading innovator and commercial scale supplier of catalysis technology in this expanding and important field."
"This order emphasizes the key role that innovative catalysis development has in accelerating the rapidly evolving area of alternative fuels," said John Kasbaum, division vice president of Albemarle's Alternative Fuel Technologies group. "Our collaboration with Neste Oil is an example of the significant efforts being undertaken all over the world to develop renewable fuels. We are pleased to be contributing to this exciting technology and look forward to our continued work with Neste Oil to help meet the world's growing clean energy demands."
About Albemarle Corporation
Albemarle Corporation, headquartered in Baton Rouge, Louisiana, is a leading global developer, manufacturer and marketer of highly engineered specialty chemicals for consumer electronics; petroleum and petrochemical processing; transportation and industrial products; pharmaceuticals; agricultural products; and construction and packaging materials. The Company operates in three business segments-Polymer Additives, Catalysts and Fine Chemicals-and serves customers in approximately 100 countries. Learn more about Albemarle at www.albemarle.com.
About Neste Oil Corporation
Neste Oil Corporation is a refining and marketing company concentrating on low-emission, high-quality traffic fuels. The company's strategy is based on growing both its oil refining and premium-quality renewable diesel business with proprietary NExBTL- technology. Neste Oil's refineries are located in Porvoo and Naantali and have a combined crude oil refining capacity of approx. 260,000 barrels a day. The company had net sales of euro 12,103 million in 2007 and it employs around 5,100 people. Neste Oil is listed on the Nordic Stock Exchange in Helsinki. www.nesteoil.com.
About NexBTL diesel
NExBTL renewable diesel is an advanced fuel based on renewable raw materials. It performs more efficiently and has a lower level of environmental impact than fossil diesel or FAME-type biodiesel. Neste Oil is measuring the environmental impacts of NExBTL renewable diesel over the whole life cycle and it requires its raw material suppliers to apply sustainable production processes and commit to continuous improvements of the production and procedures. Sustainably produced feedstock ensures NExBTL diesel 40-60% lower greenhouse gas emissions over its entire lifecycle compared to fossil diesel. NExBTL renewable diesel can be blended with conventional diesel fuel or used as such, and it is suitable for all diesel engines.
Neste Oil is the leader in renewable diesel production. The company's first NExBTL facility was commissioned in Finland at Neste Oil's Porvoo refinery in summer 2007. Second facility is due to come on stream there in 2009. They both have a capacity of 170,000 t/a. In addition Neste Oil is building 800,000 t/a plants in Singapore and Rotterdam. Singapore facility is due to be completed by the end of 2010 and Rotterdam facility in 2011.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding Albemarle Corporation's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward- looking statements, see "Risk Factors" in the Company's Annual Report on Form 10-K.
SOURCE Albemarle Corporation
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