Amsterdam, 7 September 2021 (Regulated Information) — The Shell & AMG Recycling B.V. (SARBV) and its local partner; the United Company for Industry (UCI), exchanged a memorandum of understanding (MOU) with Saudi Arabian Oil Company (Aramco) in evaluating the feasibility of a venture in support of Saudi Arabia’s (“The Kingdom”) vision to maximize value from its vast natural resources. As the Kingdom is becoming a globally important country for the supply and demand of vanadium, it is looking to enable the development of a world class facility for processing refineries’ recyclable materials into valuable products. In support of this initiative, Shell & AMG Recycling B.V., along with Shell Catalysts & Technologies and United Company for Industry, will explore the feasibility of building a catalyst manufacturing and recycling “Supercenter” in the Kingdom.
As previously announced, this “Supercenter” will be designed to support Aramco to refine its crudes in an environmentally sustainable manner through the manufacturing of fresh residue upgrading catalysts required to convert heavy oil fractions into valuable refined products. Furthermore, the “Supercenter” will enable local recycling of the resulting spent catalysts and gasification ash for critical metals reclamation. The “Supercenter” is expected to make significant contributions toward the Kingdom’s strategic circular economy goals by localizing state-of-the-art fresh catalyst and recycling technologies, supporting the realization of renewable energy and GHG emission reduction goals in the region.
An MOU related to the spent catalyst and gasification ash recycling project was exchanged amongst Jamil J. Al-Bagawi, Executive Director National Champions of Saudi Aramco; Ahmad Alabedi, CEO of UCI; Mohammed Alzomaia Country Chairman of Shell Saudi Arabia, on behalf of Andy Gosse, President of Shell Catalysts & Technologies; and Dr. Heinz C. Schimmelbusch, Chairman & CEO of AMG.
“At the United Company for Industry, we are delighted to have partnered with SARBV in the development of a circular vanadium supply chain under the Aramco Industrial Investment Program, Aramco Namaat. In collaboration with our partner SARBV, this project builds domestic supply of high value vanadium specialty products which will support the creation of local expert jobs and allow the development of downstream value chains, such as specialty metal alloys and modern energy storage solutions,” said Sheikh Ibrahim Aljomaih.
“SARBV is happy to welcome UCI leveraging their know-how about the Kingdom industries as well as their experience through their mother companies – Aljomaih group,” said Andy Gosse.
“SARBV is excited to collaborate with UCI who brings both local and world class expertise to the “Supercenter” project. UCI’s vision to deliver sustainable value through innovative materials and technologies to address the needs of Vision 2030 is in line with AMG’s vision to enable CO2 reduction through its technologies and products. Shell, AMG and UCI see multiple opportunities to bring new projects and technology to the Kingdom in support of our common visions,” said Heinz Schimmelbusch.
This press release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.
This press release contains regulated information as defined in the Dutch Financial Markets Supervision Act (Wet op het financieel toezicht).
About Shell & AMG Recycling B.V.
Shell & AMG Recycling B.V. brings together the innovative technology and operating experience of Shell and AMG to address refiners’ waste management challenges. In addition, refiners will benefit by creating value from their waste streams.
About Shell Catalysts & Technologies
The companies that comprise Shell Catalysts & Technologies, all of which are Shell’s wholly owned subsidiaries, provide technical services and licensed technologies. Shell Catalysts & Technologies also offers a market-leading catalyst portfolio with a specific focus on providing innovative refinery, petrochemical and environmental catalyst solutions. www.shell.com/CT
About AMG
AMG is a global critical materials company at the forefront of CO2 reduction trends. AMG produces highly engineered specialty metals and mineral products and provides related vacuum furnace systems and services to the transportation, infrastructure, energy, and specialty metals & chemicals end markets.
AMG Clean Energy Materials segment combines AMG’s recycling and mining operations, producing materials for infrastructure and energy storage solutions while reducing the CO2 footprint of both suppliers and customers. AMG Clean Energy Materials segment spans the vanadium, lithium, and tantalum value chains. AMG Critical Materials Technologies segment combines AMG’s leading vacuum furnace technology line with high-purity materials serving global leaders in the aerospace sector. AMG Critical Minerals consists of AMG’s mineral processing operations in antimony, graphite, and silicon metal.
With approximately 3,000 employees, AMG operates globally with production facilities in Germany, the United Kingdom, France, the United States, China, Mexico, Brazil, India, Sri Lanka and Mozambique, and has sales and customer service offices in Russia and Japan (www.amg-nv.com).
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Disclaimer
Certain statements in this press release are not historical facts and are “forward looking.” Forward looking statements include statements concerning AMG’s plans, expectations, projections, objectives, targets, goals, strategies, future events, future revenues or performance, capital expenditures, financing needs, plans and intentions relating to acquisitions, AMG’s competitive strengths and weaknesses, plans or goals relating to forecasted production, reserves, financial position and future operations and development, AMG’s business strategy and the trends AMG anticipates in the industries and the political and legal environment in which it operates and other information that is not historical information. When used in this press release, the words “expects,” “believes,” “anticipates,” “plans,” “may,” “will,” “should,” and similar expressions, and the negatives thereof, are intended to identify forward looking statements. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that the predictions, forecasts, projections and other forward-looking statements will not be achieved. These forward-looking statements speak only as of the date of this press release. AMG expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement contained herein to reflect any change in AMG’s expectations with regard thereto or any change in events, conditions, or circumstances on which any forward-looking statement is based.