LyondellBasell Awarded $4.5 Million Grant from DOE for Energy Innovations

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Jun 12, 2012, 09:05 ET

HOUSTON, June 12, 2012 /PRNewswire/ -- LyondellBasell (NYSE: LYB) today was awarded a $4.5 million grant by the U.S. Department of Energy (DOE) to develop a catalyst-assisted technology to improve the energy efficiency of producing ethylene from ethane gas while emitting less greenhouse gases (GHG). The grant was one of 13 projects announced today by DOE to receive more than $54 million for initiatives aimed at increasing energy efficiency and reducing costs of U.S. manufacturing.

"LyondellBasell is honored to be selected for an innovative manufacturing process grant that can benefit the U.S. chemical industry through lower energy costs and reduced greenhouse gas emissions," said Tim Roberts, Senior Vice President, Olefins and Polyolefins – Americas. "Access to low-cost ethane from shale gas over the past three years has changed the competitive position of the U.S. chemical industry. We have an opportunity to further this advantage through greater energy efficiencies in our manufacturing processes. This grant helps to facilitate faster development of catalyst-assisted technology for ethane cracking."

LyondellBasell, in collaboration with Quantiam Technologies Inc. and BASF Qtech Inc., will develop the new energy saving technology in a three-part program over the next three years. It will build upon earlier generation ethane and naphtha-fed catalytic coating technology for steam crackers developed by BASF Qtech by extending the benefits to ethane and natural gas liquid-fed steam crackers. LyondellBasell has six steam cracking units in the U.S. and can process ethane and natural gas liquids for up to 85 percent of their feedstocks. The estimated cost share for this project in addition to the DOE grant is $2.2 million.

LyondellBasell (NYSE: LYB) is one of the world's largest plastics, chemical and refining companies. The company manufactures products at 58 sites in 18 countries. LyondellBasell products and technologies are used to make items that improve the quality of life for people around the world including packaging, electronics, automotive parts, home furnishings, construction materials and biofuels. More information about LyondellBasell can be found at www.lyondellbasell.com.

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SOURCE LyondellBasell Industries