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MOSCOW (MRC) -- Evonik Industries says
it has made a second investment in HPNow (Copenhagen, Denmark) through Evonik's
venture capital unit. Evonik participated in the first financing round of the
start-up in 2017, according to Chemweek.
HPNow has developed a modular generator, HPGen, that produces hydrogen
peroxide (H2O2) directly on site based on a patented electrochemical technology,
the company says. Further details have not been disclosed.
HPNow has
until now addressed mainly the market for agricultural drip irrigation water
treatment but is now entering markets for the treatment of industrial wastewater
with high oxygen demand, for advanced oxidation in municipal water treatment,
and for use in cooling systems, Evonik says.
HPNow’s patented technology
breaks down H2O2 into water and oxygen after its application, making it possible
to use the environmentally friendly H2O2 even in places to which transport has
been uneconomical or even impossible until now, Evonik says. All that the system
needs on site is electricity, water, and air, the company adds.
"This
patented technology offers the possibility of a demand-oriented and
cost-efficient supply of hydrogen peroxide directly to the customer," says
Michael Traexler, head/active oxygens at Evonik. "This investment supports our
strategy of offering our customers customized system solutions."
As MRC
reported
before, Dow and Evonik have recently entered into an exclusive technology
partnership. Together, they plan to bring a unique method for directly
synthesizing propylene glycol (PG) from propylene and hydrogen peroxide to
market maturity.
Propylene is the main feedstock for the production of
polypropylene (PP).
According to MRC's ScanPlast report,
PP shipments to the Russian market reached 880,130 tonnes in the nine months of
2020 (calculated using the formula: production minus exports plus imports,
excluding producers" inventories as of 1 January, 2020). Supply increased
exclusively of PP random copolymer.
Evonik is one of the world leaders in
specialty chemicals. The focus on more specialty businesses, customer-oriented
innovative prowess and a trustful and performance-oriented corporate culture
form the heart of Evonik’s corporate strategy. They are the lever for profitable
growth and a sustained increase in the value of the company. Evonik benefits
specifically from its customer proximity and leading market positions. Evonik is
active in over 100 countries around the world with more than 36,000
employees. |
