Celanese To Expand Capacity And Utilize Recycled CO2 For Methanol Production At Clear Lake, Texas Facility

Celanese Corporation (NYSE: CE), a global chemical and specialty materials company, today announces that its Clear Lake, Texas integrated chemical manufacturing facility will begin utilizing recycled carbon dioxide (CO 2) as an alternative feedstock in...
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Celanese Corporation (CE) - Get Celanese Corporation Report, a global chemical and specialty materials company, today announces that its Clear Lake, Texas integrated chemical manufacturing facility will begin utilizing recycled carbon dioxide (CO 2) as an alternative feedstock in the production of methanol, a key raw material in the manufacture of numerous acetyls products, including acetic acid, vinyl acetate monomer (VAM), ethyl acetate and other derivatives.

This carbon capture and reuse process is expected to produce sustainable methanol with a high capital efficiency at competitive pricing via an expansion of the company's Fairway joint venture. The methanol production unit at the Clear Lake facility, operated as Fairway Methanol LLC, is a manufacturing joint venture between Celanese and Mitsui & Co., Ltd., and will contribute to the sustainability targets of both companies.

Once fully operational, it is expected that by using by-product CO 2 in the production of methanol, after a low capital capacity expansion, the 1.62 million metric ton Fairway production unit will eliminate the waste equivalent of approximately 39,000 automobiles per year from U.S. highways, thereby displacing approximately 180,000 metric tons of CO 2. Furthermore, an estimated 60 percent of currently vented process CO 2 from the entire Clear Lake site will be transformed into sustainable methanol.

"Celanese is committed to protecting the Earth's natural resources and helping our partners and customers do the same," said Lori Ryerkerk, Celanese Chairman and Chief Executive Officer. "To underscore our commitment, we are taking strategic steps aimed at reducing our operational impact globally, and the work we are doing with recycled CO 2 at our Clear Lake facility is a significant step forward for Celanese in our efforts to preserve the environment and be a responsible community partner in the reduction of carbon waste and emissions."

CO 2 capture and reuse further demonstrates the company's commitment to sustainability and the potential impact to the broader Celanese portfolio as the company is both a consumer of upstream products and a supplier of sustainable materials to other products within the portfolio. As such, the benefits of CO 2 capture and reuse can be allocated or derivatized to the company's engineered materials, acetyl chain or acetate tow product offerings.

About Celanese

Celanese Corporation is a global chemical leader in the production of differentiated chemistry solutions and specialty materials used in most major industries and consumer applications. Our businesses use the full breadth of Celanese's global chemistry, technology and commercial expertise to create value for our customers, employees, shareholders and the corporation. As we partner with our customers to solve their most critical business needs, we strive to make a positive impact on our communities and the world through The Celanese Foundation. Based in Dallas, Celanese employs approximately 7,700 employees worldwide and had 2020 net sales of $5.7 billion. For more information about Celanese Corporation and its product offerings, visit www.celanese.com .

About Fairway Methanol LLC

The Clear Lake methanol unit was commissioned in October of 2015 as a joint venture between Celanese and Mitsui & Co., Ltd., of Tokyo, Japan (MITSY) , with an annual capacity of 1.3 million metric tons. The unit utilizes abundant, low-cost natural gas in the U.S. Gulf Coast region as a feedstock. The joint venture operates as Fairway Methanol LLC, with both Celanese and Mitsui maintaining a 50/50 ownership.

Forward-Looking Statements: This release may contain "forward-looking statements," which include information concerning the company's plans, objectives, goals, strategies, future revenues or performance, capital expenditures and other information that is not historical information. When used in this release, the words "outlook," "forecast," "estimates," "expects," "anticipates," "projects," "plans," "intends," "believes," and variations of such words or similar expressions are intended to identify forward-looking statements. All forward-looking statements are based upon current expectations and beliefs and various assumptions. There can be no assurance that the Company or its customers will realize these benefits or that these expectations will prove correct. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements contained in this release. Numerous other factors, many of which are beyond the Company's control, could cause actual results to differ materially from those expressed as forward-looking statements. Other risk factors include those that are discussed in the Company's filings with the Securities and Exchange Commission. Any forward-looking statement speaks only as of the date on which it is made, and the Company undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date on which it is made or to reflect the occurrence of anticipated or unanticipated events or circumstances.

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