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Celanese (CE) Gets ISCC-Certified for Low Carbon CCU Methanol
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Celanese Corporation (CE - Free Report) recently announced that the International Sustainability and Carbon Certification ("ISCC") has certified its Low Carbon CCU (carbon capture and utilization) Methanol under the ISCC Carbon Footprint Certification (CFC) system as part of its Fairway Methanol joint venture with Mitsui & Co., Ltd. The newly certified Low Carbon CCU Methanol has a carbon footprint that is more than 70% lower than the global average benchmark for fossil-based methanol production, as required by EU legislation.
Celanese, which is among the prominent players in the chemical space along with Eastman Chemical Company (EMN - Free Report) , LyondellBasell Industries N.V. (LYB - Free Report) and Air Products and Chemicals, Inc. (APD - Free Report) , started operating one of the world's largest active CCU operations at its Clear Lake, TX, location in January 2024.
Celanese now offers low-carbon choices to customers across its Acetyl Chain and Engineered Materials products under the ECO-CC name. CCU captures CO2 industrial emissions that would otherwise be released into the atmosphere and uses reduced-carbon intensity to chemically transform the captured CO2 into a methanol building block used in downstream manufacturing.
Celanese has taken another industry-leading step by providing third-party validation of sustainable product benefits, assisting its clients in meeting the growing need for more sustainable solutions.
The ISCC CFC system provides a structure and methodology for validating adequate accounting for the CO2 capture benefits of the CCU process, as well as tracking sustainable feedstocks via the mass balance system. The certification strengthens the company's ability to provide customers with a broader selection of low-carbon footprint products.
Celanese, on its fourth-quarter call, said that it expects adjusted earnings of $1.75-$2.00 per share for the first quarter of 2024. The projection includes the expected roughly 30 cents impact from the Mobility & Materials (M&M) amortization.
The company anticipates a significant rise in earnings per share year over year in 2024 due to M&M synergy capture, Clear Lake acetic acid and methanol expansions, lower interest expenses from deleveraging and reduced inventory costs.
Another prominent chemical maker, Eastman Chemical, expects full-year 2024 EPS to be in the range of $7.25 to $8.00, with cash from operations of around $1.4 billion.
LyondellBasell expects seasonally slow demand and economic uncertainty in the first quarter of 2024. LYB also expects oxyfuels and refining margins to be within normal winter seasonal levels.
Air Products, on its fiscal first-quarter call, said it expects fiscal 2024 adjusted EPS of $12.20-$12.50, indicating 6-9% growth from the prior year’s adjusted EPS. For the second quarter of fiscal 2024, the company expects adjusted earnings per share in the range of $2.60-$2.75.
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Celanese (CE) Gets ISCC-Certified for Low Carbon CCU Methanol
Celanese Corporation (CE - Free Report) recently announced that the International Sustainability and Carbon Certification ("ISCC") has certified its Low Carbon CCU (carbon capture and utilization) Methanol under the ISCC Carbon Footprint Certification (CFC) system as part of its Fairway Methanol joint venture with Mitsui & Co., Ltd. The newly certified Low Carbon CCU Methanol has a carbon footprint that is more than 70% lower than the global average benchmark for fossil-based methanol production, as required by EU legislation.
Celanese, which is among the prominent players in the chemical space along with Eastman Chemical Company (EMN - Free Report) , LyondellBasell Industries N.V. (LYB - Free Report) and Air Products and Chemicals, Inc. (APD - Free Report) , started operating one of the world's largest active CCU operations at its Clear Lake, TX, location in January 2024.
Celanese now offers low-carbon choices to customers across its Acetyl Chain and Engineered Materials products under the ECO-CC name. CCU captures CO2 industrial emissions that would otherwise be released into the atmosphere and uses reduced-carbon intensity to chemically transform the captured CO2 into a methanol building block used in downstream manufacturing.
Celanese has taken another industry-leading step by providing third-party validation of sustainable product benefits, assisting its clients in meeting the growing need for more sustainable solutions.
The ISCC CFC system provides a structure and methodology for validating adequate accounting for the CO2 capture benefits of the CCU process, as well as tracking sustainable feedstocks via the mass balance system. The certification strengthens the company's ability to provide customers with a broader selection of low-carbon footprint products.
Celanese, on its fourth-quarter call, said that it expects adjusted earnings of $1.75-$2.00 per share for the first quarter of 2024. The projection includes the expected roughly 30 cents impact from the Mobility & Materials (M&M) amortization.
The company anticipates a significant rise in earnings per share year over year in 2024 due to M&M synergy capture, Clear Lake acetic acid and methanol expansions, lower interest expenses from deleveraging and reduced inventory costs.
Another prominent chemical maker, Eastman Chemical, expects full-year 2024 EPS to be in the range of $7.25 to $8.00, with cash from operations of around $1.4 billion.
LyondellBasell expects seasonally slow demand and economic uncertainty in the first quarter of 2024. LYB also expects oxyfuels and refining margins to be within normal winter seasonal levels.
Air Products, on its fiscal first-quarter call, said it expects fiscal 2024 adjusted EPS of $12.20-$12.50, indicating 6-9% growth from the prior year’s adjusted EPS. For the second quarter of fiscal 2024, the company expects adjusted earnings per share in the range of $2.60-$2.75.