Praxair and Libbey Receive 2.3 Million Euro Grant for Emissions Reduction Project in Europe
March 02 2017 - 8:30AM
Business Wire
Praxair, Inc. (NYSE:PX) and its customer, Libbey Inc. (NYSE
MKT:LBY), together have been awarded a 2.3 million euro LIFE grant
(LIFE15 CCM/NL/000121 – LIFE OPTIMELT) from the European
Commission. The LIFE program is the European Union’s financial
instrument for supporting environmental, conservation and climate
action projects. This grant is supporting the installation of
Praxair’s OPTIMELT® thermochemical regenerator (TCR) system at
Libbey’s glass melting facility in the Netherlands.
In April 2016, Praxair and Libbey, one of the largest glassware
and tableware manufacturers globally, announced they would install
the OPTIMELT TCR system as well as an on-site oxygen vacuum
pressure swing adsorption (VPSA) plant at Libbey’s facility. The
system is designed to support a capacity realignment plan that
reduces carbon dioxide (CO2) and nitrogen oxides (NOx) emissions by
approximately 45 to 60 percent and 30 to 40 percent respectively.
Through Praxair’s proprietary OPTIMELT TCR system, incoming natural
gas is heated and reacts with a portion of the flue gas to produce
a hot syngas fuel that recovers the waste heat stored in
regenerators for more efficient combustion in the furnace. Both the
OPTIMELT TCR system and oxygen supply are scheduled to start up in
2017.
“At Praxair we are achieving our mission of making our planet
more productive through the development of technologies that reduce
emissions, save energy and lessen our reliance on natural
resources,” said Todd Skare, chief technology officer at Praxair.
“Through our innovative OPTIMELT technology and VPSA oxygen supply
system, we are improving air quality and helping Libbey to achieve
its sustainability goals."
“Libbey is committed to minimizing its impact on the environment
through the reduction and conservation of natural resources,” said
Terry Hartman, vice president, global engineering and manufacturing
support, Libbey Inc. “Reductions in global air pollution require
innovative solutions that go beyond filters. In partnership with
Praxair, we have constructed and launched the highest-efficiency
glass melter in the industry at our Royal Leerdam facility in the
Netherlands. This new furnace represents the type of collaboration
and process innovation that enables us to help lead change as a
responsible global company.”
About Praxair
Praxair, Inc., a Fortune 300 company with 2016 sales of $11
billion, is a leading industrial gas company in North and South
America and one of the largest worldwide. The company produces,
sells and distributes atmospheric, process and specialty gases, and
high-performance surface coatings. Praxair products, services and
technologies are making our planet more productive by bringing
efficiency and environmental benefits to a wide variety of
industries, including aerospace, chemicals, food and beverage,
electronics, energy, healthcare, manufacturing, primary metals and
many others. More information about Praxair, Inc. is available at
www.praxair.com.
About Libbey Inc.
Based in Toledo, Ohio, Libbey Inc. is one of the largest glass
tableware manufacturers in the world. Libbey Inc. operates
manufacturing plants in the U.S., Mexico, China, Portugal and the
Netherlands. In existence since 1818, the Company supplies tabletop
products to retail, foodservice and business-to-business customers
in over 100 countries. Libbey's global brand portfolio, in addition
to its namesake brand, includes Crisa®, Royal Leerdam®, World®
Tableware, Syracuse® China, and Crisal Glass®. In 2016, Libbey
Inc.'s net sales totaled $793.4 million. Additional information is
available at www.libbey.com.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170302005038/en/
PraxairMedia:Jason Stewart,
203-837-2448jason_stewart@praxair.comorInvestors:Juan Pelaez,
203-837-2213juan_pelaez@praxair.comorLibbey Inc.Media:Jamie
McDaniel, 419-325-2672jmcdan@libbey.comorInvestors:Kimberly A.
Hunter, 419-325-2612khunte@libbey.com
Libbey (AMEX:LBY)
Historical Stock Chart
From Jul 2024 to Jul 2024
Libbey (AMEX:LBY)
Historical Stock Chart
From Jul 2023 to Jul 2024