COLUMBIA, Md., Feb. 25, 2019 (GLOBE NEWSWIRE) -- Advanced Refining Technologies LLC (ART Hydroprocessing) and GS EcoMetal Co. Ltd (GSEM) today announced a multi-year agreement to recover metals from spent catalysts supplied by ART Hydroprocessing to its refinery customers. GSEM’s processing facility is located in Ulsan, South Korea and would serve ART’s customers in Asia Pacific and other regions.
The agreement allows ART and GSEM to address customers’ spent catalysts disposal needs while establishing a pathway to sustainable reuse of metals derived from the catalyst manufacturing and oil refining processes.
ART Managing Director André Lanning said, “This new partnership with GS EcoMetal, an established specialist in reclaiming metals from spent catalysts, broadens ART’s offering to include recycling and value enhancing services to our customers where mutual benefit can be recognized.”
GSEM Chief Executive Officer Byung-Rak Lim noted that, “This agreement with ART Hydroprocessing, a global leader in hydroprocessing catalysts, allows GS EcoMetal to expand commercial production and strengthen our impact on protecting the environment through recycling of limited natural resources.”
About ART Hydroprocessing
ART Hydroprocessing (ART), a Chevron and Grace joint venture, is a leading supplier of hydroprocessing catalysts that produce cleaner fuels. ART offers a complete portfolio of resid hydrotreating, resid and conventional hydrocracking and lubes hydroprocessing, and distillate hydrotreating catalyst technologies through a global manufacturing network. ART combines Chevron’s extensive expertise in refining operations, catalyst technology and development, process design leadership, and licensing with Grace’s materials science, specialty chemical manufacturing, and global sales and technical service strengths, to improve refiners’ profitability through catalytic solutions that improve the quality and yields of fuels refined from a wide variety of feedstocks.
About GS EcoMetal
GS EcoMetal Co., Ltd. specializes in reclaiming rare metals from spent catalyst of oil refineries and petrochemical plants in Korea and abroad. As the first company in Korea to succeed in commercial production of reclaimed metals, we have been practicing eco-friendly and sustainable management with our unique technology. Based on our commitment to protect the environment through recycling and enhancing the value of limited resources, we will achieve our vision of being the “Global Leader in Rare Metal Recovery” through continuous technological improvements.
ART Hydroprocessing™ (Advanced Refining Technologies LLC or ART), is a joint venture between subsidiaries of Chevron Corporation and W. R. Grace & Co. This announcement contains forward-looking statements, that is, information related to future, not past, events. Such statements generally include the words “believes,” “plans,” “intends,” “forecasts,” “targets,” “will,” “expects,” “anticipates,” “outlook,” or similar expressions. Forward-looking statements include, without limitation: expected financial positions; results of operations; cash flows; business strategy; and markets for securities. For these statements, the joint venture and its affiliates claim the protections of the safe harbor for forward-looking statements contained in Section 27A of the Securities Act and Section 21E of the Exchange Act. Like other businesses, the joint venture and its affiliates are subject to risks and uncertainties that could cause actual results to differ materially from its projections or that could cause other forward-looking statements to prove incorrect. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the dates those statements are made. The joint venture and its affiliates undertake no obligation to release publicly any revision to the forward-looking statements contained in this announcement, or to update them to reflect events or circumstances occurring after the date of this announcement.
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