DGAP-News: H&R GmbH & Co. KGaA / Key word(s): Market Launch/Product Launch
P2X-Europe launches SynZero™ – a new premium brand for synthesis-based specialty chemical products and e-fuels
Salzbergen, Germany, September 7, 2022. P2X-Europe, the joint venture between H&R and Mabanaft, launches SynZero™, its new brand for synthesis-based specialty chemical products and e-fuels with sustainability standards surpassing legal and regulatory requirements. H&R and Mabanaft thus confirm their pioneering role in their respective business segments when it comes to climate protection and set a new sustainability standard for synthetic Power-to-liquids (PtL) products.
“Mabanaft plays an active role in shaping the energy transition and we offer our customers innovative mobility solutions to reduce their CO2 emissions,” explains Volker Ebeling, Senior Vice President of New Energy, Chemicals & Gas at Mabanaft. “With the launch of SynZero™, we show our customers that we are ready and able to support them on their path to a carbon-neutral future”.
While SynZero™ products reduce some undesirable aspects of fossil fuel production and use, including greenhouse gas (GHG) pollutant emissions, they are chemically identical and functionally equivalent to petroleum fuels. That is why SynZero™ products can replace traditional hydrocarbons made from fossil materials without any inconvenience for the consumer: for instance, SynZero™ e-fuels can be used without limitations like conventional fuels at the filling station. Existing infrastructures and vehicle fleets require neither equipment retrofits nor technical adjustments, and the refuelling process remains the same.
As SynZero™ e-fuels are created with the help of green electricity, water, and biogenic CO2, they maintain a sustainable carbon equilibrium. While fossil fuel combustion is a one-way process which transfers carbon from “sealed” geological reserves into the atmosphere, biogenic CO2 has a carbon friendly balance since it does not contribute more carbon to the atmosphere than that which has been sequestered before by trees and plants. Combustion simply returns the carbon that was absorbed as the plants grew to the atmosphere.
“H&R aims to continue supplying its customers with proven chemical-pharmaceutical specialties in the future, while at the same time converting its portfolio to climate-friendly products. The use of synthetic waxes as raw material is a crucial pillar of our strategy in this regard,” emphasizes Detlev Woesten, Chief Sustainability Officer at H&R and co-CEO of P2X-Europe. “Our additional advantages are the vertically integrated end-to-end technology solutions, and our parent companies’ market access in the mobility and chemical sectors.”
With the innovative Power-to-liquid demonstration plant in Hamburg, around 200 metric tons of SynZero™ e-fuels per year for mobility, and around 150 metric tons of SynZero™ waxes for applications in the cosmetics, pharmaceuticals and food industries will be produced, starting in 2022.
“With SynZero™ products, P2X-Europe aspires to maximize the climate friendliness of synthetic hydrocarbons to be produced from green hydrogen and biogenic CO2. The SynZero™ brand allows for a differentiation of carbon sources, end products and sustainability attributes. It is the company’s response to increasing consumer demand for Sustainable Aviation Fuels (SAF), cleaner motor fuels, and non-fossil chemical raw materials. With SynZero™, P2X-Europe is offering not only a premium brand for synthetic fuels but a credible defossilisation strategy and a net-zero carbon perspective for its customers,” underlines Dr. Christoph Weber, co-CEO of P2X-Europe.
In July, P2X-Europe announced its plans to scale-up the Power-to-liquid business with its first project in Portugal in a joint venture with the Navigator Company. The JV opens perspective for 80,000 tonnes per year of renewable SynZero™ Power-to-liquid products and eSAF.
H&R GmbH & Co. KGaA is a specialty-chemicals company listed on the Frankfurt Stock Exchange's Prime Standard segment. It develops and manufactures hydrocarbon-based chemical and pharmaceutical specialty products and produces high-precision plastic parts. The product portfolio comprises white oils, petroleum jellies, paraffin waxes, lubricants, base oils, process oils, cable filling compounds, ozone protection waxes, plasticizers, cosmetic and pharmaceutical raw materials.
P2X-Europe GmbH & Co. KG is an independent Power-to-Liquid (PtL) project development joint-venture, backed by two Hamburg-based German companies; the Mabanaft Group, a leading independent and integrated energy company, and the H&R Group, which develops and manufactures specialty chemical and pharmaceutical products. P2X-Europe develops, builds, and invests in vertically integrated end-to-end Power-to-Liquid technology solutions to enable the market introduction of synthetic net-zero chemicals and fuels. Based in Hamburg, the company has set the ambition to become a global leader in renewable hydrogen and green synthetic hydrocarbons with a focus on sustainable aviation fuels, and the company is building a strong and diverse portfolio of large-scale Power-to-X projects across industries and geographies..
Mabanaft GmbH & Co. KG is a leading independent and integrated energy company, providing its customers with innovative energy solutions for their transportation, heating, and industrial needs. In addition, the company is active in trading petroleum products, natural gas liquids, chemicals, and biofuels..
Forward-looking statements and forecasts:
This press release contains forward-looking statements. The statements are based on the current estimates and forecasts by the Executive Board and the information available to the Board at this time. These forward-looking statements do not provide any warranty for the future developments and results contained therein. The future developments and results are dependent on a number of factors; they entail various risks and contingencies and are based on assumptions which could prove to be incorrect. We do not assume any responsibility for updating the forward-looking statements contained in this press release.
07.09.2022 CET/CEST Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
H&R GmbH & Co. KGaA
Neuenkirchener Str. 8
+49 (0)40 43 218 321
+49 (0)40 43 218 390
Regulated Market in Dusseldorf, Frankfurt (Prime Standard), Hamburg; Regulated Unofficial Market in Berlin, Hanover, Munich, Stuttgart, Tradegate Exchange
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