Celanese Says Ethanol-From-Coal Process Is a ‘Game-Changer’
(they've hinted at this before , from May 10th)
bloomberg.com
Celanese Corp. (CE) said its technology to make ethanol from coal is more profitable than producing the gasoline additive from plants, and is a “game-changer” for the U.S. chemicals company.
The so-called TCX technology can convert coal, petroleum coke or natural gas to ethanol for 25 percent to 35 percent less than alternative processes, Celanese said today in presentation slides posted on its website. The cost of converting coal to ethanol is $1.50 a gallon, equal to making gasoline from crude oil costing $60 a barrel, the Dallas-based company said.
“Fuel with our ethanol technology represents a game- changer for the company,” Chief Executive Officer David Weidman said in a presentation to investors in New York.
Weidman said he is advancing a November plan to build two factories in China that will turn coal into ethanol for industrial uses. The company also may produce ethanol for fuel in China, India, Australia, Colombia and Egypt, he said.
Ethanol sales could boost yearly earnings by more than $1 a share, said Edlain Rodriguez, an analyst at Gleacher & Co.
“We expect investors to start focusing soon on this potential value-creating platform not currently embedded in the stock price,” Rodriguez, who is based in New York and recommends buying the stock, said today in a report.
Celanese rose $2.17, or 4.3 percent, to $52.08 at 4:01 p.m. in New York Stock Exchange composite trading, the biggest daily percentage increase since Nov. 18. The shares have gained 26 percent this year.
Earnings in 2013 will be at least $6 a share and will grow 10 percent to 15 percent after then, not including gains from ethanol sales, Weidman said. That’s higher than the company’s April forecast for 2013 profit of $5.50 to $6.50. The average estimate of five analysts surveyed by Bloomberg was for $5.63.
Little more on this
Celanese sees new TCX ethanol process as key component in future growth; a “paradigm shift” in ethanol production
greencarcongress.com
Celanese is one of the world’s largest producers of acetyl products (intermediate chemicals, such as acetic acid, for nearly all major industries); acetyl intermediates account for about 45% of Celanese’s total sales. Celanese uses a methanol carbonylation process (reaction of methanol and carbon monoxide); the reaction utilizes a catalyst and the resulting product (acetic acid) is purified through distillation. Celanese continnues to enhance this core technology.
In January of this year, Celanese was awarded a US patent (#7,863,489) on the direct and selective production of ethanol from acetic acid utilizing a platinum/tin catalyst. The patent covers a process for the selective production of ethanol by vapor phase reaction of acetic acid over a hydrogenating catalyst composition to form ethanol. In one embodiment of this invention, the reaction of acetic acid and hydrogen over a platinum/tin catalyst supported on silica, graphite, calcium silicate or silica-alumina selectively produces ethanol in a vapor phase at a temperature of about 250 °C.
Surprisingly, it has now been unexpectedly found that ethanol can be made on an industrial scale directly from acetic acid with very high selectivity and yield. More particularly, this invention provides a process for the selective formation of ethanol from acetic acid comprising: hydrogenating acetic acid over a platinum/tin hydrogenating catalyst in the presence of hydrogen. More specifically, the catalyst suitable for the process of this invention is comprised of a combination of platinum and tin supported on a suitable catalyst support optionally in combination with one or more metal catalysts selected from the group consisting of palladium, rhodium, ruthenium, rhenium, iridium, chromium, copper, molybdenum, tungsten, vanadium and zinc. Suitable catalyst supports include without any limitation, silica, alumina, calcium silicate, carbon, zirconia and titania
—US Patent 7,863,489 |
