Construction Underway on Huntsman's 30-Ton Pilot Plant for MIRALON® Carbon Nanotube Materials

Rhea-AI Summary

Huntsman Corporation has started construction on a 30-ton carbon nanotube materials plant, which will be one of the largest in the Americas. The plant represents a major step forward in the commercialization of the MIRALON® technology. The carbon nanotube materials have various applications in industries such as aerospace, automotive, and construction. The manufacturing process also produces clean hydrogen with minimal CO2 emissions. The new plant is expected to be completed by year-end 2023.

Positive

• Construction of the large carbon nanotube materials plant shows progress in the commercialization of MIRALON® technology.
• The manufacturing process produces clean hydrogen with minimal CO2 emissions.

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• None.

THE WOODLANDS, Texas, Sept. 26, 2023 /PRNewswire/ -- Huntsman Corporation (NYSE: HUN) today announced construction has commenced on the 30-ton MIRALON^® carbon nanotube materials plant, originally announced at Huntsman's 2021 Investor Day event. The new plant, which converts methane gas to carbon nanotubes and clean-burning hydrogen, will be one of the largest of its kind in the Americas. It represents a major step forward in the commercialization of the innovative MIRALON^® technology and another step closer to an industrial-scale production facility.

"Our business prides itself on bringing advanced materials to market to help our customers solve difficult engineering challenges through innovation," said Scott Wright, President of Huntsman's Advanced Materials division. "Today marks a significant step forward in the development of a new class of valuable, sustainable material."

MIRALON^® structural carbon products are carbon nanotube-based advanced materials, which can be produced as sheets, tape, yarn, or additives and dispersions. Thinner than a human hair and up to 25 times stronger than steel, MIRALON^® carbon nanotube materials are lightweight and electrically and thermally conductive – attributes that can benefit a wide variety of applications in aerospace, automotive, construction and other industries. MIRALON^® carbon nanotube materials can be used in electric vehicle batteries, high-performance composites, engineered thermoplastics, conductive adhesives, specialized concrete, and longer-wear tires.

"One of the interesting aspects of this project is that there are actually two valuable products created through the technology," said David Hatrick, Vice President of Innovation and Strategic Marketing for Huntsman's Advanced Materials division. "The first product is the MIRALON^® carbon nanotube materials which have tremendous opportunity to create better products and new applications that don't even exist today. The second product resulting from the process is clean hydrogen – a fuel in high demand as society collectively seeks to lower CO₂ emissions and accelerate the energy transition."

The manufacturing process produces clean hydrogen as a by-product, with little to no CO₂ emissions. This can play an exciting role in energy transition by minimizing the carbon footprint of many industries, explained John Fraser, Commercial Director for MIRALON^® technology and materials.

"The carbon footprint related to our manufacturing process can be up to 95% less, when compared to the traditional process of steam methane reforming (SMR), avoiding the majority CO₂ emissions normally associated with hydrogen production," Fraser said. "Co-locating a small MIRALON^® manufacturing unit on a customer's site, creates the opportunity to produce hydrogen right where our customers need it. This will allow companies to reduce their carbon footprint and benefit from the potential of CO₂ sequestration/capture credits."

The new plant is expected to be completed by year-end 2023, in line with commitments made at our 2021 Investor Day. In the meantime, our technical and commercial teams are engaging with customers looking to develop innovative solutions with MIRALON^® materials. To learn more, or to get in touch with a MIRALON^® representative, please visit www.miralon.com.

About Huntsman:
Huntsman Corporation is a publicly traded global manufacturer and marketer of differentiated and specialty chemicals with 2022 revenues of approximately $8 billion from our continuing operations. Our chemical products number in the thousands and are sold worldwide to manufacturers serving a broad and diverse range of consumer and industrial end markets. We operate more than 60 manufacturing, R&D and operations facilities in approximately 30 countries and employ approximately 7,000 associates within our continuing operations. For more information about Huntsman, please visit the company's website at www.huntsman.com. 

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Forward-Looking Statements:
Certain information in this release constitutes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on management's current beliefs and expectations. The forward-looking statements in this release are subject to uncertainty and changes in circumstances and involve risks and uncertainties that may affect the company's operations, markets, products, services, prices and other factors as discussed under the caption "Risk Factors" in the Huntsman companies' filings with the U.S. Securities and Exchange Commission. Significant risks and uncertainties may relate to, but are not limited to, volatile global economic conditions, cyclical and volatile product markets, disruptions in production at manufacturing facilities, reorganization or restructuring of Huntsman's operations, including any delay of, or other negative developments affecting the ability to implement cost reductions, and manufacturing optimization improvements in Huntsman businesses and realize anticipated cost savings, and other financial, economic, competitive, environmental, political, legal, regulatory and technological factors. The company assumes no obligation to provide revisions to any forward-looking statements should circumstances change, except as otherwise required by applicable laws. 

While all the information and recommendations in this publication are to the best of our knowledge, information and belief accurate at the date of publication,  NOTHING HEREIN IS TO BE CONSTRUED AS A WARRANTY, EXPRESS OR OTHERWISE. IN ALL CASES, IT IS THE RESPONSIBILITY OF THE USER TO DETERMINE THE APPLICABILITY OF SUCH INFORMATION AND RECOMMENDATIONS AND THE SUITABILITY OF ANY PRODUCT FOR ITS OWN PARTICULAR PURPOSE. The sale of products referred to in this publication is subject to the general terms and conditions of sale of Huntsman International LLC or of its affiliated companies.

MIRALON® is a trademark of Huntsman Corporation, or an affiliate thereof in one or more, but not all countries.

© 2023 Huntsman International LLC

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SOURCE Huntsman Corporation