| WTI Crude | $42.76/bbl | +0.0% |
| Brent Crude | $42.70/bbl | -6.6% |
| HH Nat Gas | $2.15/MMBtu | -3.2% |
| MB Propane | $0.50/gal | -2.9% |
| 3:2:1 Crack | $8.00/bbl | -14.9% |
Shell and TNSC invest in a US-based battery start-up
San Diego energy storage start-up, South 8 Technologies, has received investments (of undisclosed amounts) from Shell's venture arm and Taiyo Nippon Sanso Corporation (TNSC).
Who is South 8?
Spun out of the University of California San Diego in 2017, this start-up specializes in a patented liquefied gas electrolyte for electrochemical energy storage devices. Its technology is getting attention because it increases the energy, power, and safety of battery systems while maintaining much of the same manufacturing infrastructure in place for the Li-ion industry today.
Why did Shell and TNSC invest?
Shell Ventures focuses on investments in companies that "further the development of energy solutions and new technologies that have the potential to transform the energy and mobility future". TNSC is a major industrial gas company, and not only will it offer South 8 its money, but it will offer "experience and capabilities regarding handling and supplying of specialty gases".
Read the press release here.
Lanxess to develop modular plant for tanneries
German specialty chemicals company, Lanxess, has announced a new partnership with Hüni (the leading process controls company for tanneries).
What are they doing?
There are many chemicals required to produce leather. This partnership is intended to develop a new sustainable technology for producing those chemicals (specifically retanning agents). The companies want to create a modular plant to allow tanneries to recycle shavings from leather production on-site and produce retanning agents automatically.
Some context:
It was only a couple of weeks ago that Lanxess announced the sale of its leather chemicals business. For a refresher on how leather chemicals are made you can go here.
Read the press release here.
Mitsubishi to test carbon capture on a coal tanker next year
A subsidiary of a company in the Mitsubishi Group has announced that it will be demonstrating the world's first marine-based carbon capture system.
Why you should care:
The marine shipping industry is facing pressure to reduce carbon emissions just like the rest of the world. We need Oil tankers and LNG carriers to transport oil and chemicals that allow the world to function. Carbon capture, alternative fuels, and fuel cells are all being considered as long-term solutions.
What are they doing?
Mitsubishi says they will be "converting the design of an existing CO2 capture system for onshore power plants to a marine environment, and installing it on board an actual ship in service". The demonstration plant will be built mid-2021 and will then be placed on board a coal-carrying vessel.
Read the press release here.