Page 154 - CW E-Magazine (12-3-2024)

News from Abroad

ALTERNATIVES TO AGROCHEMICALS
ICL makes biologicals buy in Brazil

ICL, Israel’s speciality minerals Increasing interest in alternatives
company, has acquired Nitro 1000, a to agrochemicals has created higher
manufacturer of biologicals in Brazil demand for biologicals solutions, and
for approximately $30-mn. The acqui- the ag biologicals market is expected
sition is expected to position the com- to grow at a 13.8% CAGR and reach
pany for further expansions into new $27.9-bn by 2028, according to a report
and adjacent end-markets. by MarketsandMarkets. Biologicals
stimulate natural processes to enhance
Nitro 1000 will immediately join or benefit nutrient uptake, nutrient use
the ICL product portfolio, and the efficiency, abiotic stress tolerance, and
company will begin selling to its crop quality and yield.
existing customer base in Brazil.
Nitro 1000’s products are mainly In Brazil, ICL currently has more
aimed at soybean, corn and sugar cane than 1,700 employees, and the coun-
crops, and their application replaces try represented approximately 20% of
or optimises the use of fertilisers. our stated strategy of continuing to sales in 2023. The company expects
invest in agriculture – specifically in the integration of Nitro 1000 to benefit
“We are excited to merge Nitro Brazil. It will enable us to continue to significantly from its two recent suc-
1000’s core expertise in biologicals increase market share and leadership cessful acquisitions in Brazil, including
manufacturing with ICL’s extensive in Brazil speciality plant nutrition,” the South American Plant Nutrition
R&D capabilities and innovation said Mr. Elad Aharonson, President of business of Compass Minerals and
engine and to further execute against ICL Growing Solutions. Fertiláqua, both in 2021.

ENERGY TRANSITION
Romania’s OMV Petrom ties up financing for building

two green hydrogen projects

Romania’s integrated energy pro- mately Euro 140-mn. The funding was adding hydrogen to our portfolio of
ducer OMV Petrom, majorly controlled obtained following the reopening, in low carbon projects.”
by Austria’s OMV, has announced July 2023, of the competitive call for
the signing of two financing contracts projects supporting investments in The projects consist of building two
through the NRRP, for the construction green hydrogen, initially launched in water electrolysis plants of 35-MW
of two production facilities for green 2022. and 20-MW at the Petrobrazi refinery.
hydrogen with a total capacity of 55-MW The entire production process will be
at the Petrobrazi refinery. Ms. Christina Verchere, OMV powered by renewable energy, there-
Petrom CEO, said, “Through our fore carbon-free, allowing the hydro-
The National Recovery and Resi- Strategy 2030, we committed to sup- gen obtained to be classified as green
lience Plan (NRRP) is a funding facility port the energy transition in Romania hydrogen. The annual amount of green
supported by the European Commis- and the region, with investments of hydrogen to be produced by the two
sion. around Euro 11-bn by the end of this projects has been estimated at approxi-
decade, of which approximately 35% mately 8 kilotons.
The contracts were signed with will support low- and zero-carbon
the Romanian Ministry of Energy for projects. We have made great strides The projects are currently in the
a maximum funding amount of Euro in renewables and electro-mobility engineering phase aiming to reach
50-mn; the total investment is approxi- projects, and with this project we are final investment decision in 2024.

154 Chemical Weekly March 12, 2024

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