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RNS - Wacker Chemie AG: WACKER and SFC Energy Sign Letter of Intent on Supply and Distribution of Renewable Methanol

Company: Wacker Chemie AG Date: 2022-03-10 Language: English Register to download
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 News Details

Corporate | 10 March 2022 10:00

#   

Wacker Chemie AG: WACKER and SFC Energy Sign Letter of Intent on Supply and Distribution of Renewable Methanol

DGAP-News: Wacker Chemie AG / Key word(s): Letter of Intent  

10.03.2022 / 10:00  

The issuer is solely responsible for the content of this announcement.  

Munich / Brunnthal, March 10, 2022 – Wacker Chemie AG and fuel-cell specialists SFC Energy AG have signed a letter of intent on the distribution of renewable methanol. The two companies announced this today. The letter states that, starting in 2025, WACKER plans to supply SFC Energy with up to 2,000 metric tons of methanol from the RHYME Bavaria project planned for its Burghausen site. SFC Energy intends to offer this methanol as a fuel with a particularly low environmental impact for use in its customers’ methanol fuel cells. These cells are used in private, commercial and governmental applications as a decentralized power supply.

The planned RHYME Bavaria project includes the construction of a 20-megawatt electrolysis plant. This plant is intended to use renewable electricity to produce green hydrogen, which, together with CO2 from existing production processes, will then be converted to methanol in a synthesis plant. The expected capacity of the synthesis plant is 15,000 metric tons per year.

“As one of the world’s leading manufacturers of fuel cells, we’re helping our customers in their efforts to achieve net zero. Fuel cell technology ensures that environmentally sound fuels like renewable methanol from the RHYME Bavaria project or green hydrogen can be reliably converted to clean electricity,” says Peter Podesser, CEO of SFC Energy. “If we are to transition sustainably to a climate neutral industrial society, support from programs like the National Hydrogen Strategy and the EU’s Green Deal is essential. Working with WACKER means more than just having an extraordinarily strong partner at our side with the technology we need and with industry expertise – WACKER also shares our vision of a climate neutral industrial society.”

“Our partnership with SFC Energy is further evidence of the broad range of potential of RHYME Bavaria going forward,” underscored WACKER President & CEO Christian Hartel. “We are convinced that green hydrogen and renewable methanol are essential building blocks for transforming chemical processes towards net zero – whether they’re used as raw materials, reducing agents or fuels. Currently, however, this kind of plant complex doesn’t yet pay for itself. Consequently, the grants we have applied for at the European and national levels are an essential prerequisite to make RHYME Bavaria a reality.”

Hydrogen and methanol are both key starting materials for chemical products such as silicones. For WACKER, the project represents a first step toward defossilizing chemical processes. Compared with current production methods, the new processes could cut CO2 emissions by as much as 100 percent. Capital expenditures for the plant complex are on the order of roughly €100 million. The planning phase for the facilities can start once the requested funding has been approved. The plant could then begin operations in 2025.

**About SFC Energy**  

SFC Energy AG (www.sfc.com) is a leading provider of hydrogen and direct methanol fuel cells for stationary and mobile hybrid power solutions. With the Clean Energy and Clean Power Management business segments, SFC Energy is a sustainably profitable fuel cell producer. The Company distributes its award-winning products worldwide and has sold more than 55,000 fuel cells to date. The Company is headquartered in Brunnthal/Munich, Germany, operates production facilities in the Netherlands, Romania, and Canada. SFC Energy AG is listed on the Deutsche Boerse Prime Standard (GSIN: 756857 ISIN: DE0007568578).

**About WACKER**  

Wacker Chemie AG (www.wacker.com) is a global company with state-of-the-art specialty chemical products found in countless everyday items, ranging from cosmetic powders to solar cells. WACKER’s portfolio comprises more than 3,200 products supplied in over 100 countries. WACKER has a global network of 26 production sites, 23 technical competence centers and 52 sales offices. In 2020, the Group’s 14,300 employees generated global sales of €4.69 billion. Wacker Chemie AG is listed on the Deutsche Boerse Prime Standard and on the MDAX (GSIN: WCH888, ISIN: DE000WCH8881).

*This press release contains forward-looking statements based on assumptions and estimates of the executive boards of WACKER and SFC Energy. Although we assume the expectations in these forward-looking statements are realistic, we cannot guarantee they will prove to be correct. The assumptions may harbor risks and uncertainties that may cause the actual figures to differ considerably from the forward-looking statements. Factors that may cause such discrepancies include, among other things, changes in the economic and business environment, variations in exchange and interest rates, the introduction of competing products, lack of acceptance for new products or services, and changes in corporate strategy. WACKER and/or SFC Energy do not plan to update forward-looking statements, nor do the companies assume the obligation to do so.*

**For further information, please contact:**

Wacker Chemie AG  

Media Relations & Information  

Christof Bachmair  

Tel. +49 89 6279-1830  

christof.bachmair@wacker.com

SFC Energy AG  

Public Relations  

Jens Jüttner  

Tel. +49 89 125 09 03 32  

jens.juettner@sfc.com

  

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10.03.2022 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.  

The issuer is solely responsible for the content of this announcement.  

  

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.  

Archive at www.dgap.de  

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|     |     |
| --- | --- |
| Language: | English |
| Company: | Wacker Chemie AG |
|     | Hanns-Seidel-Platz 4 |
|     | 81737 München |
|     | Germany |
| Phone: | 0049-89-6279-1633 |
| Fax: | 0049-89-6279-2933 |
| E-mail: | investor.relations@wacker.com |
| Internet: | www.wacker.com |
| ISIN: | DE000WCH8881 |
| WKN: | WCH888 |
| Indices: | MDAX |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1297123 |

  

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| End of News | DGAP News Service |

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