Shell & AMG Recycling B.V. and the United Company for Industry
Announce an Agreement with Aramco to Construct and Operate a
World-Class Metals Supercenter Complex in Saudi Arabia
Amsterdam, 05
July
2022 --- Shell
& AMG Recycling B.V. (“SARBV”) and its partner, the United
Company for Industry (“UCI”), announced the signing of an agreement
(“the Agreement”) with the Saudi Arabian Oil Company (“Aramco”)
under which SARBV and UCI shall construct and operate a world-class
‘Metals Reclamation Complex’ for the recovery and recycling of
metals in Al-Jubail Industrial City, in Saudi Arabia (“the
Kingdom”).
The Agreement is in support of the Kingdom’s
[Vision 2030] ambitions to accelerate energy transition, achieve
sustainability aspirations and drive circular investment in the
Kingdom, and in alignment with the Aramco Namaat Industrial
Investments Program initiative that aims to build national
champions, create a robust industrial ecosystem and introduce
unique job opportunities.
As the Kingdom and the GCC region are becoming
globally pivotal for the supply and demand of the metal, vanadium,
as well as the upgrading of the bottom-of-the-barrel, the Metals
Reclamation Complex seeks to enable the development of a
world-class and regional facility for processing refineries’
recyclable materials into valuable products. In support of this
initiative, this Agreement aims to be the initial phase of the
Supercenter complex, with the processing of the metal vanadium
concentrate from the Jazan Integrated Gasification Combined Cycle
Plant, licensed by Shell, to produce high-purity Vanadium
Pentoxide; build a regional research and development center for
testing a residue-upgrading catalyst; install a Lithium Vanadium
Battery (“LIVA”); and install a vanadium electrolyte production
plant, an important step in the development of a market for
Vanadium Redox Flow Batteries in the Kingdom.
The Agreement also addresses later phases of the
visionary “In-Kingdom Supercenter” that include expanding recycling
capabilities, as well as a regional hub for spent residue catalysts
metals reclamation, and fresh residue-upgrading catalyst
manufacturing. This unique combination of capabilities, all in one
place, will provide an end-to-end solution for refiners, and aim to
accelerate growing niche downstream industries in the Kingdom.
“Building upon Shell’s long and successful
history with Aramco, we are very pleased to be working together to
support the Kingdom’s [Vision 2030] energy transition ambitions.
Sharing many sustainability goals, we are transforming our
businesses and finding new opportunities to enable renewable
energy, such as electricity generated by solar and wind power. The
SARBV-UCI Aramco commitment will both contribute toward the
Kingdom’s net zero 2060 target, while increasing the sustainability
of the region’s current energy infrastructure with the reduction of
waste materials production. Going beyond metals recycling, this
project is the first step toward a supercenter that aims to support
the region’s refining catalyst development, testing, and
production. We look forward to continuing the energy transition
journey together with SARBV-UCI and Aramco,” said Andy Gosse,
President of Shell Catalysts & Technologies.
“We look forward to deepening our relationship
with Aramco. The SARBV-UCI Aramco commitment to build the metal
reclamation complex supports Saudi Arabia’s ambitions to accelerate
energy transition, achieve sustainability goals and drive a new
wave of investment in the Kingdom. Saudi Arabia’s ambitious
commitments to CO2 reduction will necessitate the acceleration of
its sustainability goals under Vision 2030. SARBV-UCI’s
closed loop circular recycling of refinery waste to produce
materials that will enable increasing penetration of renewable
energy into the energy supply mix in the Kingdom, as well as
improvements in energy efficiency for industrial users, which are
all key drivers of the energy transition,” said Dr. Heinz
Schimmelbusch, Chairman and CEO of AMG.
“We are excited to be contributing to the
Kingdom's journey as a promoter of circularity and renewable
energies. In collaboration with Aramco and our international
partners AMG and Shell, we are combining critical capabilities to
extract valuable metal compounds from our natural resources. It is
energizing to enable the development of clean energy storage
innovations, as well as high tech metals value chains in the
Kingdom through this investment. United Company for Industry is
committed to investing in cutting-edge technologies and innovative
materials. We consider this investment an important milestone in
UCI's path to becoming a recognized advanced materials supplier in
the Kingdom and beyond,” said Sheikh Ibrahim Aljomaih, Chairman of
UCI.
About the
Saudi Arabian Oil Company (Aramco): Aramco is a
global integrated energy and chemicals company. We are driven by
the core belief that energy is opportunity. From producing
approximately one in every eight barrels of the world’s oil supply
to developing new energy technologies, our global team is dedicated
to creating impact in all that we do. We focus on making our
resources more dependable, more sustainable and more useful. This
helps promote stability and long-term growth around the world.
www.aramco.comMedia Relations: International.media@aramco.com l
Aramco
About United Company for Industry
(UCI):The United Company for Industry (UCI) is a member of
the Aljomaih Group of Companies, a leading industrial group in The
Kingdom of Saudi Arabia. UCI is committed to investing in
sophisticated, integrated manufacturing assets to support the
development of advanced downstream industries and the
transformation plan outlined in Saudi Arabia’s Vision 2030. UCI's
scope includes advanced and specialty chemicals, mining and metals
as well as natural resources in the energy and water segments.
www.unitedindustry.com
About Shell & AMG Recycling
B.V. (SARBV):Shell & AMG Recycling
B.V. brings together the innovative technology and operating
experience of Shell and AMG to address refiners’ waste management
challenges. In addition, refiners will benefit by creating value
from their waste streams.
About Shell Catalysts &
Technologies
The companies that comprise Shell Catalysts
& Technologies, all of which are Shell’s wholly owned
subsidiaries, provide technical services and licensed technologies.
Shell Catalysts & Technologies also offers a market-leading
catalyst portfolio with a specific focus on providing innovative
refinery, petrochemical and environmental catalyst solutions.
www.shell.com/CT
About AMG
AMG is a global critical materials company at
the forefront of CO2 reduction trends. AMG produces highly
engineered specialty metals and mineral products and provides
related vacuum furnace systems and services to the transportation,
infrastructure, energy, and specialty metals & chemicals end
markets.
AMG Clean Energy Materials segment combines
AMG’s recycling and mining operations, producing materials for
infrastructure and energy storage solutions while reducing the CO2
footprint of both suppliers and customers. AMG Clean Energy
Materials segment spans the vanadium, lithium, and tantalum value
chains. AMG Critical Materials Technologies segment combines AMG’s
leading vacuum furnace technology line with high-purity materials
serving global leaders in the aerospace sector. AMG Critical
Minerals segment consists of AMG’s mineral processing operations in
antimony, graphite, and silicon metal.
With approximately 3,300 employees, AMG operates
globally with production facilities in Germany, the United Kingdom,
France, the United States, China, Mexico, Brazil, India, Sri Lanka,
and Mozambique, and has sales and customer service offices in Japan
(www.amg-nv.com).
For further information, please
contact:
Nadiyah AlmutairiCorporate Relations
AdvisorShell Overseas Services Ltd – Saudi Arabia Tel: +966
570000274n.almutairi@shell.com
Hassan AlmarashiHead Media Relations Middle East
& North AfricaShell EP International LtdTel: +9714 705
5783Cell: +97156 226 0924Hassan.Almarashi@shell.com
Mohammed BenchekchouShell & AMG Recycling
B.V.Vice President Business DevelopmentCell:
+971569919941m.benchekchu@shell.com
Michele FischerVice President Investor
RelationsAMG Advanced Metallurgical Group N.V.+1 610 975
4979mfischer@amg-nv.com
Ghalib AlharbiVice President Business
DevelopmentTel: +966 506444469ghalib@unitedindustry.com
Cautionary note
The companies in which Shell plc directly and
indirectly owns investments are separate legal entities. In this
announcement, “Shell”, “Shell Group” and “Group” are sometimes used
for convenience where references are made to Shell plc and its
subsidiaries in general. Likewise, the words “we”, “us” and “our”
are also used to refer to Shell plc and its subsidiaries in general
or to those who work for them. These terms are also used where no
useful purpose is served by identifying the particular entity or
entities. ‘‘Subsidiaries’’, “Shell subsidiaries” and “Shell
companies” as used in this announcement refer to entities over
which Shell plc either directly or indirectly has control. Entities
and unincorporated arrangements over which Shell has joint control
are generally referred to as “joint ventures” and “joint
operations”, respectively. “Joint ventures” and “joint operations”
are collectively referred to as “joint arrangements”. Entities over
which Shell has significant influence but neither control nor joint
control are referred to as “associates”. The term “Shell interest”
is used for convenience to indicate the direct and/or indirect
ownership interest held by Shell in an entity or unincorporated
joint arrangement, after exclusion of all third-party interest.
This press release contains forward-looking
statements (within the meaning of the U.S. Private Securities
Litigation Reform Act of 1995) concerning the financial condition,
results of operations and businesses of Shell. All statements other
than statements of historical fact are, or may be deemed to be,
forward-looking statements. Forward-looking statements are
statements of future expectations that are based on management’s
current expectations and assumptions and involve known and unknown
risks and uncertainties that could cause actual results,
performance or events to differ materially from those expressed or
implied in these statements. Forward-looking statements include,
among other things, statements concerning the potential exposure of
Shell to market risks and statements expressing management’s
expectations, beliefs, estimates, forecasts, projections and
assumptions. These forward-looking statements are identified by
their use of terms and phrases such as “aim”, “ambition”,
‘‘anticipate’’, ‘‘believe’’, ‘‘could’’, ‘‘estimate’’, ‘‘expect’’,
‘‘goals’’, ‘‘intend’’, ‘‘may’’, “milestones”, ‘‘objectives’’,
‘‘outlook’’, ‘‘plan’’, ‘‘probably’’, ‘‘project’’, ‘‘risks’’,
“schedule”, ‘‘seek’’, ‘‘should’’, ‘‘target’’, ‘‘will’’ and similar
terms and phrases. There are a number of factors that could affect
the future operations of Shell and could cause those results to
differ materially from those expressed in the forward-looking
statements included in this announcement, including (without
limitation): (a) price fluctuations in crude oil and natural gas;
(b) changes in demand for Shell’s products; (c) currency
fluctuations; (d) drilling and production results; (e) reserves
estimates; (f) loss of market share and industry competition; (g)
environmental and physical risks; (h) risks associated with the
identification of suitable potential acquisition properties and
targets, and successful negotiation and completion of such
transactions; (i) the risk of doing business in developing
countries and countries subject to international sanctions; (j)
legislative, judicial, fiscal and regulatory developments including
regulatory measures addressing climate change; (k) economic and
financial market conditions in various countries and regions; (l)
political risks, including the risks of expropriation and
renegotiation of the terms of contracts with governmental entities,
delays or advancements in the approval of projects and delays in
the reimbursement for shared costs; (m) risks associated with the
impact of pandemics, such as the COVID-19 (coronavirus) outbreak;
and (n) changes in trading conditions. No assurance is provided
that future dividend payments will match or exceed previous
dividend payments. All forward-looking statements contained in this
announcement are expressly qualified in their entirety by the
cautionary statements contained or referred to in this section.
Readers should not place undue reliance on forward-looking
statements. Additional risk factors that may affect future results
are contained in Shell plc’s Form 20-F for the year ended December
31, 2021 (available at www.shell.com/investor and www.sec.gov).
These risk factors also expressly qualify all forward-looking
statements contained in this announcement and should be considered
by the reader. Each forward-looking statement speaks only as of the
date of this announcement, [insert date]. Neither Shell plc nor any
of its subsidiaries undertake any obligation to publicly update or
revise any forward-looking statement as a result of new
information, future events or other information. In light of these
risks, results could differ materially from those stated, implied
or inferred from the forward-looking statements contained in this
press release.
We may have used certain terms, such as
resources, in this press release that United States Securities and
Exchange Commission (SEC) strictly prohibits us from including in
our filings with the SEC. U.S. Investors are urged to consider
closely the disclosure in our Form 20-F, File No 1-32575, available
on the SEC website www.sec.gov.
Disclaimer
Certain statements in this press release are not
historical facts and are “forward looking.” Forward looking
statements include statements concerning AMG’s plans, expectations,
projections, objectives, targets, goals, strategies, future events,
future revenues or performance, capital expenditures, financing
needs, plans and intentions relating to acquisitions, AMG’s
competitive strengths and weaknesses, plans or goals relating to
forecasted production, reserves, financial position and future
operations and development, AMG’s business strategy and the trends
AMG anticipates in the industries and the political and legal
environment in which it operates and other information that is not
historical information. When used in this press release, the words
“expects,” “believes,” “anticipates,” “plans,” “may,” “will,”
“should,” and similar expressions, and the negatives thereof, are
intended to identify forward looking statements. By their very
nature, forward-looking statements involve inherent risks and
uncertainties, both general and specific, and risks exist that the
predictions, forecasts, projections and other forward-looking
statements will not be achieved. These forward-looking statements
speak only as of the date of this press release. AMG expressly
disclaims any obligation or undertaking to release publicly any
updates or revisions to any forward-looking statement contained
herein to reflect any change in AMG's expectations with regard
thereto or any change in events, conditions, or circumstances on
which any forward-looking statement is based.
- SARBV_UCI_Supercenter_Press_Release_FINAL 7522
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