Albemarle Corp (NYSE:ALB) Awarded With Kirkpatrick Chemical Engineering Award

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Albemarle Corp (NYSE:ALB) a pioneer in the international specialty chemicals industry, reported that the company has been recognized with the 44th Kirkpatrick Chemical Engineering Award. This award comes for its advanced AlkyClean® process know-how advanced jointly with Neste and CB&I.

The details

The Kirkpatrick Award credits the most remarkable chemical engineering technology marketed anywhere in the world in the preceding two years. Out of the several submissions to Chemical Engineering magazine, just six finalists were chosen. Criteria for winner selection comprise novelty of the technology, the complexity of the chemical engineering concern that was solved and the comprehensive engineering excellence. The awards were reported at the Chem Show on November 1, 2017.

Silvio Ghyoot, the President of company’s Refining Solutions global business segment, stated that they have been working together with their technology associates for several years to advance a commercially safe and viable alternative to produce top-quality alkylate without the application of liquid acid catalysts. They are delighted by this prestigious recognition and award of the innovative AlkyClean technology for its prospect as a game-changing know-how for their refining consumers.

This know-how, which applies the Albemarle AlkyStar® catalyst, removes the application of liquid acids for motor fuel alkylate production, and thus removes the hazards and operating and environmental problems linked with handling liquid acids. The world’s preliminary solid catalyst alkylation procedure was commercialized with this latest catalyst and procedure in Shandong, China, in 2015. The AlkyClean® process provides environmental advantages due to the lessening of waste streams, like acid-soluble oils and spent acids, and is also integrally safer when assessed to technologies employing liquid acids.

It should be noted that the AlkyClean® process know-how was even the recipient of the Presidential Green Chemistry Challenge Award in 2016 presented by the U.S. EPA in conjunction with the American Chemical Society.

In the last trading session, the stock price of Albemarle jumped more than 1% to close the day at $130.60.

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