Celanese Low-Carbon ECO-CC Products Available Through U.S. Department Of Energy Procurement Grant Program
Portfolio Pulse from Benzinga Newsdesk
Celanese Corporation (NYSE:CE), a global specialty materials and chemical company, announced its approval as a Utilization Procurement Grants (UPGrants) vendor by the U.S. Department of Energy. This makes Celanese the only producer of low-carbon acetic acid under the ECO-CC product name, using carbon capture and utilization (CCU) technology. The company's products, including low-carbon methanol, aim to reduce greenhouse gas emissions and support sustainable solutions across various applications. Celanese's CCU project at Clear Lake, Texas, is expected to capture 180,000 metric tons of CO2 annually, contributing to the production of 130,000 metric tons of low-carbon methanol.
February 12, 2024 | 2:02 pm
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Celanese Corporation's approval as a UPGrants vendor by the DOE for its ECO-CC low-carbon acetic acid products positions the company as a leader in sustainable chemical production. The company's CCU technology and projects, such as the one at Clear Lake, Texas, demonstrate its commitment to reducing greenhouse gas emissions and supporting a lower carbon future.
Celanese's designation as a UPGrants vendor by the DOE highlights the company's unique position in the market for low-carbon chemical products, potentially increasing its attractiveness to investors interested in sustainable and environmentally friendly investments. The company's efforts in CCU technology and its ability to capture significant amounts of CO2 annually could lead to increased demand for its products, positively impacting its stock price in the short term.
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