Albemarle and OptiFuel Technology Group Form Collaborative Agreement to Offer Innovative New Coker Additive Technology
(NYSE: ALB) a global developer and manufacturer of innovative catalyst and
additive technologies, has formalized a collaboration agreement with
OptiFuel(R) Technology Group, a coker technology development and licensing
company. Under the agreement, the two companies will work together to
commercialize a beneficial new coker additive technology designed to
substantially improve liquid and gas yields.
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Known as “OptiFuel,” the proprietary technology can be easily implemented
and is functional within any coker configuration with only minor
modifications. In addition to improved economics, the technology promotes
environmentally friendly practices in refinery operations through the more
efficient recovery of valuable transportation fuels.
“Albemarle and OptiFuel are aggressively combining technology and
expertise to create a powerful solution that enhances the refiner’s liquid
throughputs in an environmentally sound manner, regardless of feed
characteristics,” said
Catalytic Cracking group. “We are pleased to add this dynamic new technology
to Albemarle’s extensive portfolio of innovative additive solutions.”
“We are excited to team with Albemarle in this collaboration to accelerate
the implementation of our technology in the global refining industry,” said
expertise provide the elements necessary to successfully move forward with
this technology which can increase the production of gasoline and diesel fuel
per barrel of crude and produce significant increases in annual revenues when
implemented in refineries and oil sands upgraders throughout the world.”
About OptiFuel(R)
OptiFuel(R) Technology Group is an
exclusively on the development of innovative and cost effective coker process
technologies. The company owns several existing and pending patents in this
area, and continues its work in the forefront of technology development in
this increasingly important aspect of crude oil refining.
About Albemarle
Albemarle Corporation, headquartered in
leading producer of specialty chemicals for consumer electronics;
transportation and industrial products; pharmaceuticals; agricultural
products; construction and packaging materials. The company’s three business
segments, Polymer Additives, Catalysts and Fine Chemicals serve customers in
nearly 100 countries, generating annual revenue of approximately
Learn more about Albemarle at http://www.Albemarle.com.
“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