Hoover CS Secures Long-term Catalyst Management Agreement with ART

Rhea-AI Summary

Hoover CS has entered a multi-year agreement with Advanced Refining Technologies LLC (ART), a joint venture of W. R. Grace & Co. (NYSE:GRA) and Chevron (NYSE:CVX), to provide circular catalyst packaging and logistics solutions. This arrangement supports Bapco's largest catalyst management agreement. The partnership, established on August 11, 2021, aims to enhance sustainability in catalyst management across the supply chain. Hoover CS will utilize its proprietary FleetAI technology for logistics, focusing on delivering a sustainable solution for ART and its clients.

Positive

• Secured a multi-year agreement, enhancing business credibility.
• Partnership supports sustainability initiatives, aligning with current industry trends.
• Utilizes FleetAI technology for improved logistics and efficiency.

Negative

• None.

HOUSTON--(BUSINESS WIRE)-- Hoover CS is proud to announce a multi-year agreement with Advanced Refining Technologies LLC (ART), the joint venture of US specialty chemicals and materials company W. R. Grace & Co. (NYSE:GRA) and US energy company Chevron (NYSE:CVX), in partnership with Bahrain Petroleum Company (Bapco). Under the terms of the agreement, Hoover CS will provide ART with circular catalyst packaging and logistics solutions in support of the largest catalyst management agreement signed in Bapco’s history.

Executive leadership and senior management from Hoover CS, BAPCO, ART, and CLG (Photo: Business Wire)

On August 11th, 2021, Hoover CS executive leadership attended the signing ceremony with Bapco’s Chairman and Chief Executive Dr. Dawood Nassif, along with senior management and executives from Bapco, ART, and Chevron Lummus Global (CLG).

“It’s very exciting to be part of the single largest catalyst management agreement in Bapco’s history,” says Arash Hassanian, Hoover CS Senior Vice President. “We look forward to working closely with ART in providing sustainable packaging solutions and managing key aspects of the logistics across the supply chain.”

Jag Reddy, Managing Director of ART, said, “Hoover CS plays a critical role in helping us align with Bapco’s sustainability initiatives. Their industry-leading circular catalyst packaging and logistics solutions enable us to deliver a convenient, and sustainable solution for our client.”

Hoover CS will play a critical role in the transportation of fresh and spent catalyst to and from the United States, the Kingdom of Bahrain, and South Korea, along with specialized logistics and services, such as handling and repackaging, truck loading, and fleet management through its proprietary FleetAI technology.

In addition, Hoover CS will identify opportunities to improve circularity within ART’s supply chain, ensuring sustainability goals and net zero objectives are at the forefront of their strategy.

About Hoover CS

Hoover CS is paving the way for customers across the chemical, refining and general industrial-end markets to move away from single-use containers. Through its large rental fleet of reusable liquid and dry IBCs and ISO tanks, combined with integrity management and fleet management services, Hoover CS’s sustainable packaging solutions facilitate circularity across the supply chain, yielding an optimized environmental footprint through reduced plastic, water conservation, and lower greenhouse gas emissions. For more information, please visit hooversolutions.com.

About ART Hydroprocessing

ART, a joint venture between Grace and Chevron, is a leading supplier of hydroprocessing catalysts that produce cleaner fuels. ART Hydroprocessing™ represents a complete portfolio of resid hydrotreating, hydrocracking, and lubes hydroprocessing, and distillate hydrotreating catalyst technologies through a global manufacturing network. ART Hydroprocessing 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. The ART team works seamlessly with CLG, itself a joint venture between Chevron U.S.A. Inc. and Lummus Technology, which is a leading process technology licensor for refining hydroprocessing technologies and alternative source fuels. More information is available at ART Hydroprocessing.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210921005149/en/

Lana Belmokadem,

Vice President of Marketing, Hoover CS

+1-281-870-8402 x 1075

lana.belmokadem@hooversolutions.com

Source: Hoover CS

FAQ

What is the significance of Hoover CS's agreement with ART?

Hoover CS's multi-year agreement with ART enhances catalyst management solutions, focusing on sustainability and efficient logistics.

When was Hoover CS's agreement with ART signed?

The agreement was signed on August 11, 2021.

How does this agreement impact W. R. Grace (GRA) and Chevron (CVX)?

This agreement strengthens W. R. Grace (GRA) and Chevron (CVX) by enhancing their operational capabilities and commitment to sustainability.

What is the main goal of the partnership between Hoover CS and ART?

The main goal is to provide sustainable catalyst packaging and logistics solutions for Bapco's catalyst management.