CHARLOTTE, N.C., Aug. 18, 2016 /PRNewswire/ -- As the market leader in hydroprocessing catalysts, Albemarle (NYSE: ALB) is reinforcing its business strategy in hydrotreating to become even more focused on technology development and catalyst performance.
With recent volatility in oil prices, the refining industry's biggest challenge is to optimize profitability of unit operations, maximizing returns. "We believe we are in the best position to optimize our customers' hydroprocessing unit operations. By not being tied to any specific license agreements, our unique STARS® portfolio and Nebula® bulk catalyst can maximize profitability for refiners," said Silvio Ghyoot, Albemarle's Refining Solutions President.
Nebula® is Albemarle's bulk metal catalyst technology, developed jointly by Albemarle and ExxonMobil. Nebula® was commercialized 10 years ago. It is the highest activity hydrotreating catalyst available for many hydroprocessing applications and offers at least twice the activity of traditional catalysts. Today, more than 60 refineries are employing Nebula® with over 130 successful unit cycles. In a proprietary STAX® combination with STARS® catalyst, the Nebula® catalyst unleashes performance and boosts profit margins of both hydrocrackers and distillate hydrotreating units around the globe.
Albemarle's successful STARS® hydrotreating catalyst product line was recently expanded to three new grades, demonstrating unparalleled performance under the most challenging process conditions: KF 870 STARS® for hydrocracking pretreat applications, KF 880 STARS® for medium to high pressure middle distillate hydrotreaters, and KF 780 STARS®, the newest all around catalyst for low pressure hydrotreating applications.
In order to reinforce this business strategy, Albemarle is ending its alliance with Honeywell UOP that began in 2006. Going forward, Albemarle is committed to working hand-in-hand with our customers to maximize their unit operations, while also completing projects initiated under the Honeywell UOP alliance.
Albemarle Corporation (NYSE: ALB), headquartered in Charlotte, NC, is a global specialty chemicals company with leading positions in lithium, bromine, refining catalysts and applied surface treatments. We power the potential of companies in many of the world's largest and most critical industries, from energy and communications to aerospace and electronics. Working side-by-side with our customers, we develop value-added, customized solutions that make them more competitive. Our solutions combine the finest technology and ingredients with the knowledge and know-how of our highly experienced and talented team of operators, scientists and engineers.
Discovering and implementing new and better performance-based sustainable solutions is what motivates all of us. We think beyond business-as-usual to drive innovations that create lasting value. Albemarle employs approximately 6,900 people and serves customers in approximately 100 countries. We regularly post information to www.albemarle.com, including notification of events, news, financial performance, investor presentations and webcasts, non-GAAP reconciliations, SEC filings and other information regarding our company, its businesses and the markets it serves.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding Albemarle Corporation's business that 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.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/albemarle-reinforces-its-commitment-to-hydroprocessing-300315458.html
SOURCE Albemarle Corporation