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Ecovyst Inc (ECVT) delivers innovative specialty catalysts and sustainable chemistry solutions through its Ecoservices and Advanced Materials & Catalysts divisions. This page serves as the definitive source for official company announcements, providing stakeholders with timely updates on operational developments and strategic milestones.
Access curated press releases covering earnings reports, partnership agreements, product innovations, and environmental initiatives. Investors will find essential updates on sulfuric acid recycling advancements, catalyst technology breakthroughs, and market expansion efforts that shape Ecovyst's industry leadership.
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Ecovyst Inc. (ECVT) has announced a $4.5 million equity investment in Pajarito Powder, a company specializing in supports and catalysts for electrolyzers and fuel cells. This strategic move aligns with Ecovyst's goal to expand its Advanced Materials & Catalysts capabilities into emerging markets, particularly the hydrogen economy.
The investment is based on Ecovyst's belief in the growth potential of green hydrogen, with market projections suggesting a 20-fold increase by 2030. Pajarito Powder plans to use the funds to advance its technology, strengthen customer partnerships, and grow its business. The companies also intend to engage in joint development efforts, leveraging their respective strengths in material science and manufacturing.
As part of the deal, Ecovyst will appoint a representative to Pajarito Powder's Board of Directors. The collaboration aims to explore new applications for mesoporous carbon and accelerate growth in supports and catalysts for electrolyzers and fuel cells.
Ecovyst Inc. (NYSE: ECVT), a global provider of advanced materials, specialty catalysts, and services, has announced its upcoming second quarter 2024 earnings conference call and webcast. The event is scheduled for Thursday, August 1, 2024, at 11:00 a.m. Eastern Time. Investors can participate via telephone by dialing 1 (800) 343-5419 (domestic) or 1 (203) 518-9731 (international) using the participant code ECVTQ224. Additionally, an audio-only live webcast and presentation materials will be accessible at https://investor.ecovyst.com. A replay of the conference call and webcast will be made available on the company's investor relations website.
Ecovyst (NYSE: ECVT) released its 2023 Sustainability Report titled 'Advancing the Global Shift Toward Sustainability' on June 25, 2024. The report highlights data on health, safety, environmental sustainability (HSES), greenhouse gas emissions, energy consumption, water usage, and waste management for the year 2023.
CEO Kurt J. Bitting emphasized the company's progress towards sustainability goals through innovative research and development, focusing on reducing greenhouse gas intensity and optimizing energy use with AI and software technology. Ecovyst aims for best-in-class HSES performance and professional development to benefit employees and stakeholders. The report outlines the company's sustainability objectives for 2025 and 2030, reinforcing its commitment to fostering a sustainable economy.
Ecovyst Inc. (NYSE: ECVT) announced the successful amendment and extension of its senior secured term loan facility, now totaling $873 million. The new terms reduce the interest rate margin to SOFR plus 2.25% from the previous SOFR plus 2.75% and extend the loan maturity to June 2031. Additionally, the Credit Spread Adjustment of 10 basis points has been eliminated. Ecovyst expects to save approximately $3 million annually in cash interest due to these favorable changes. This adjustment provides the company with greater financial flexibility to pursue growth opportunities.
Zeolyst International, a joint venture of Ecovyst (NYSE: ECVT), has commissioned a new laboratory scale thermal pyrolysis reactor for advanced recycling of plastic waste. Located at Ecovyst's technical center in Conshohocken, PA, the reactor aims to optimize zeolite-based materials to enhance plastic recycling efficiency. Zeolyst's Opal Infinity™ zeolite products were introduced during Ecovyst's investor day in November 2023, highlighting their commitment to plastic circularity. This initiative involves approximately 45 scientists and technicians, focusing on developing advanced materials and catalysts. This new investment supports the development of sustainable solutions and improves the efficiency of thermal processes in plastic recycling.
Ecovyst Inc. reported first-quarter results for 2024, with sales of $160.5 million and net income of $1.2 million. The company delivered solid results with growth in Ecoservices and Zeolyst Joint Venture. Adjusted EBITDA increased by 6% to $45.5 million. Cash generation was strong, leading to a reduction in net debt leverage ratio to 2.9x. The company provided a positive outlook for 2024, expecting sales of $715-$755 million, Adjusted EBITDA of $255-$275 million, and Free Cash Flow of $85-$105 million.
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