Contacts:
Cargill: Bill Brady, 952-742-6608
Ashland: Ken Gordon, 614-790-1832
Ashland / Cargill license technology from Davy Process Technology Ltd. for planned JV
Technology to produce propylene glycol (PG) from glycerin
COVINGTON, Ky., MINNEAPOLIS – Ashland Inc. (NYSE:ASH) and Cargill today announced they have entered into a technology licensing agreement with Davy Process Technology Ltd., a Johnson Matthey Company, on behalf of the joint venture the companies intend to form. The basis of the agreement is a highly efficient vapor-phase hydrogenation technology for use in converting glycerin to propylene glycol (PG).
According to Dave Jones, director of bioproducts at Ashland, the conversion process planned for the joint venture combines the hydrogenation technology licensed from Davy with other technologies proprietary to the JV. “In laboratory testing, the process has produced higher yields and fewer byproducts than other options the companies researched. The testing also shows that the process produces a high-purity propylene glycol that can be used in virtually any application using PG,” said Jones.
Jim Millis, technical director of industrial bioproducts at Cargill, said the beginning-to-end process of the joint venture will be further improved by Cargill’s expertise in producing refined glycerin. “Cargill is among the world leaders in production of biodiesel and the resulting glycerin co-product,” he said. “As the glycerin supply increases along with biodiesel expansion, the race is on to find more and better ways to convert glycerin into a range of higher-value industrial bioproducts. Combining Davy’s licensed technology with other proprietary technologies will, we believe, offer significant advantages to our joint venture.”
“Davy has more than 25 years experience in liquid and vapor-phase hydrogenation technology and has licensed to 45 plants worldwide producing fatty alcohols, butanediol and specialty chemicals,” said David Tomlinson, president of Davy Process Technology in London. “The Ashland and Cargill venture will be the first to use this efficient production method in converting glycerin to propylene glycol.”
In May 2007, Ashland and Cargill announced the intent to create a 50/50 joint venture to develop and produce a range of chemical products from renewable resources. The stand-alone entity’s initial focus will be global manufacturing and marketing of biobased PG, starting with a 65,000-metric-ton-per-year plant at a yet-to-be-finalized location in Europe. Details on company name, leadership and development plans will be announced at a later date.
Davy Process Technology has a global business in petrochemicals technology development and technology licensing. The company has headquarters in London, and it’s Technology Centre in Stockton-on-Tees. It owns a range of proprietary process technologies such as Methanol, Carbon Conversion, Butanediol, Natural Detergent Alcohols, Oxo Alcohols, Industrial Amines and Ethyl Acetate. For further information, visit the company’s website at www.davyprotech.com.
Ashland Inc., a diversified, global chemical company, provides quality products, services and solutions to customers in more than 100 countries. A FORTUNE 500 company, it operates through four divisions: Ashland Performance Materials, Ashland Distribution, Valvoline and Ashland Water Technologies. To learn more about Ashland, visit www.ashland.com.
Cargill is an international provider of food, agricultural and risk management products and services. With 153,000 employees in 66 countries, the company is committed to using its knowledge and experience to collaborate with customers to help them succeed. For more information, visit www.cargill.com.