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Shell (RDS.A) Makes Advances to Develop E-Cracker Technology

Zacks Equity Research
·4-min read

Royal Dutch Shell Plc RDS.A informed that its previously-announced agreement with Dow Inc. DOW to facilitate the development of technology for electrifying ethylene steam crackers achieved progress.

In June 2020, Shell entered a joint-development agreement with material science company Dow to develop a technologically and economically feasible solution to electrify the ethylene steam crackers, which provide chemicals used in the making of products that people daily use. Notably, the method is capable of significantly reducing emissions and would contribute to decarbonizing the chemical industry.

The joint program has been awarded $4.2 million in Mission-driven Research, Development and Innovation subsidy (“MOOI”) scheme funding by the government of the Netherlands. Over the first year, the program developed electrification solutions for steam crackers, while seeking innovative technologies for advanced electrified crackers in the long term.

Moreover, the companies announced that they collaborated with The Netherlands Organisation for Applied Scientific Research (“TNO”) and the Institute for Sustainable Process Technology (“ISPT”) to boost the near-term progress and developments needed in times to come.

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TNO, which has extensive knowledge in high-temperature heat transfer applications, has been a leader in identifying innovative electrical technologies that could be deployed in the chemical industry. Then again, ISPT is engaged in the system integration of preferred concepts, combining the dynamics of advanced technologies with those of utilities and infrastructure in the industry through energy transition.

The new collaborators implemented their proficiency in electrical design, metallurgy, hydrocarbon technology and computational fluid dynamics to narrow down business ideas, validate emission benefits and advance patents. Also, it contributed to indicate the durability of electric heating elements and partner with equipment suppliers.

The program intends to facilitate emission reductions needed to address the two companies’ 2030 CO2 targets. Markedly, the companies aim to become net-zero emission businesses by 2050 or sooner, in line with the most ambitious goal of the Paris Agreement on climate change. Notably, the companies are currently considering the construction of a multi-megawatt pilot plant, which is expected to come online in 2025, subject to investment support.

On its part, the agreement’s selection for funding from the Dutch government is a vote of confidence for the advancement of the joint e-cracking program and its ability to transform the chemical industry.

Company Profile

Headquartered in The Hague, Netherlands, Shell is one of the primary oil majors — a group of U.S. and Europe-based big energy multinationals — with global operations. The company is fully integrated, as it participates in every aspect related to energy from oil production to refining and marketing.

Zacks Rank & Other Stocks to Consider

The company currently carries a Zack Rank #2 (Buy).

Some other top-ranked players in the energy space are PetroChina Company Limited PTR and Petrobras PBR, each currently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rankstocks here.

Over the past 60 days, the Zacks Consensus Estimate for PetroChina’s 2021 earnings has been raised by 80.4%.

Petrobras’ earnings for 2021 are expected to increase 14.4% year over year.

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Royal Dutch Shell PLC (RDS.A) : Free Stock Analysis Report
 
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Dow Inc. (DOW) : Free Stock Analysis Report
 
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