{"id":27048,"date":"2015-07-15T02:45:15","date_gmt":"2015-07-15T00:45:15","guid":{"rendered":"https:\/\/renewable-carbon.eu\/news\/?p=27048"},"modified":"2021-09-09T21:44:44","modified_gmt":"2021-09-09T19:44:44","slug":"newlight-signs-20-year-contract-for-19-billion-pounds-of-aircarbon-pha","status":"publish","type":"post","link":"https:\/\/renewable-carbon.eu\/news\/newlight-signs-20-year-contract-for-19-billion-pounds-of-aircarbon-pha\/","title":{"rendered":"Newlight Signs 20-Year Contract for 19 Billion Pounds of AirCarbon PHA"},"content":{"rendered":"<ul>\n<li><strong>Contract commits Vinmar to initially purchase 1 billion pounds of AirCarbon PHA on a take-or-pay basis over 20 years<\/strong><\/li>\n<li><strong>AirCarbon PHA production to ramp up in three phases<\/strong><\/li>\n<li><strong>Contract may be expanded by mutual agreement to cover additional AirCarbon production up to 19 billion pounds over 20 years<\/strong><\/li>\n<li><strong>AirCarbon PHA will be made using captured greenhouse gas as a resource<\/strong><\/li>\n<\/ul>\n<p><strong>LOS ANGELES, July 10, 2015 \/PRNewswire\/ \u2014 Newlight Technologies (http:\/\/www.newlight.com), a biotechnology company using an advanced biological carbon capture technology to produce sustainable materials, announced today that it has signed a take-or-pay off-take agreement with Vinmar International Ltd (http:\/\/www.vinmar.com).\u00a0 Under the terms of the 20-year master off-take agreement, Vinmar will initially purchase and Newlight will sell 1 billion pounds of AirCarbon PHA.<\/strong><\/p>\n<p>The Vinmar contract provides for the sale of 100% of AirCarbon PHA from Newlight\u2019s planned 50 million pound per year production facility for 20 years.\u00a0 The contract will also cover 100% of the output from a 300 million pound per year AirCarbon production facility and a 600 million pound per year AirCarbon production facility for a total of up to 19 billion pounds over 20 years.<\/p>\n<p>AirCarbon is a PHA-based thermoplastic made from greenhouse gas that is used and being developed for use in a wide range of products, including films, caps and closures, furniture, electronics accessories, bottles and other applications.<\/p>\n<p>Newlight produces AirCarbon by combining a breakthrough high-yield biocatalyst with air and captured methane-based greenhouse gas emissions to produce a bio-based AirCarbon thermoplastic material that is cost competitive with petroleum-derived thermoplastics.<\/p>\n<p>\u201cThis contract launches AirCarbon to world-scale volume, and sets Newlight on a path to accomplishing its founding goal of changing how the world makes materials, by harnessing greenhouse gas as a resource,\u201d said Mark Herrema, Newlight CEO and Co-Founder, \u201cWith this agreement, we are poised to participate in the growing demand for sustainable materials with a material made by capturing carbon that would otherwise become part of the air.\u201d<\/p>\n<p>\u201cVinmar is excited to be a part of the growth and development of Newlight\u2019s AirCarbon PHA,\u201d said Kartik Mehta, a senior executive of Vinmar.\u00a0 \u201cOur long-term off-take contract with Newlight reflects the potential we see for AirCarbon. Demand for plastics will continue to grow globally and AirCarbon addresses an important need in the market.\u00a0\u00a0 We believe Newlight\u2019s advanced high-yield technology, unique cost structure, and commercial-scale operations position AirCarbon to effectively compete in the market on price and performance, allowing us to market AirCarbon PHA to a broad range of customers,\u201d he added.<\/p>\n<p>Vinmar International is a leading marketer and distributor of chemicals with sales of over $4.5 billion in 2014 and annual volumes that exceeded 6.5 billion pounds of petrochemicals.\u00a0 With over 450 staff in 35 countries, Vinmar possesses the global presence and experience needed to cost effectively accelerate development of the growing market for AirCarbon.\u00a0 This in turn will allow Newlight\u2019s commercial team to focus on production capacity expansion, high margin derivatives, key accounts, and joint technology and application development.<\/p>\n<p>&nbsp;<\/p>\n<h3>About Newlight<\/h3>\n<p>Newlight Technologies is a sustainable materials company using carbon capture technology to produce high-performance materials that replace oil-based materials on a market-driven basis.\u00a0 Newlight was founded in 2003 with a question: why can\u2019t we use greenhouse gas emissions as a resource to make materials?\u00a0 Over the course of 10 years of research and development, Newlight developed a breakthrough biotechnological process to produce a material called AirCarbon\u00ae: a high performance long chain thermoplastic polymer made by combining air and methane-based carbon emissions that is able to match the performance of a range of oil-based plastics while out-competing on price, thereby creating a market-driven solution to displacing fossil fuels and capturing carbon.\u00a0 Today, Newlight is operating the world\u2019s first commercial-scale greenhouse gas-to-AirCarbon manufacturing facility, using air and biogas to produce materials used in the production of film packaging, rigid furniture, electronics accessories, caps, and a variety of other products.\u00a0 Following commercialization in 2013, AirCarbon was named \u201cBiomaterial of the Year\u201d by the Nova Institute in 2013, \u201cone of the 100 most technologically significant innovations of the year\u201d by R&amp;D Magazine in 2013, and 2014 \u201cInnovation of the Year\u201d by Popular Science.<\/p>\n<h3>\nAbout Vinmar<\/h3>\n<p>Vinmar International Ltd is a privately held plastics and chemicals marketing, distribution and project development company headquartered in Houston, Texas.\u00a0 Over the past 35 years Vinmar has grown to over 450 employees in 35 countries, with sales in excess of 3 million metric tons consisting of plastics and chemicals, and generating revenues of over US$4.5 Billion in 2014.\u00a0 Vinmar is part of the Goradia Group of Companies that also includes Goradia Capital, which acquires and operates chemical manufacturing plants and has participation in grass-roots chemical projects.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Contract commits Vinmar to initially purchase 1 billion pounds of AirCarbon PHA on a take-or-pay basis over 20 years AirCarbon PHA production to ramp up in three phases Contract may be expanded by mutual agreement to cover additional AirCarbon production up to 19 billion pounds over 20 years AirCarbon PHA will be made using captured 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