COP29: Wanhua Chemical Reveals Multiple Innovations that Drive Carbon Neutrality in Chemical Industry Supply Chain

In line with COP29's Solidarity for a Green World theme, Wanhua's focus is on the world's first integrated intelligent thermal energy, pioneering hydrogen chloride oxidation cycle technology, along with chemical and physical polyurethane foam recycling technologies, among others.

BAKU, Azerbaijan, Nov. 22, 2024 /PRNewswire/ -- Wanhua Chemical ("Wanhua" or "the Company"; 600309. SS), revealed multiple innovative sustainable transformation models and technology applications at COP 29 in Azerbaijan from November 11^th-22^nd related to reaching a carbon-free future across energy, chemical, home appliance, and industrial park industries, among others. The Company also collaborated with industry organizations to address common environmental pollution and global warming development challenges.

Mr. Liao Zengtai, Chairman of Wanhua, commented: "With our corporate mission of Advancing Chemistry, Transforming Lives, Wanhua is committed to using the power of chemistry to drive our own transformation while providing solutions to common challenges facing the world and contributing to a sustainable future."

Wanhua's technological innovations champion a zero-carbon future.

Wanhua Chemical Hehai Comprehensive Energy Project has introduced the world's first integrated intelligent thermal energy technology to improve energy efficiency and reduce carbon emissions. Utilizing advanced technologies, like corrugated plate absorption heat pumps, centrifugal heat pumps, and mechanical vapor recompression (MVR), the system recycles waste heat from Yantai Industrial Park. This reclaimed heat provides high-quality thermal energy for production processes and supplies a clean heating source for Yantai city in winter. By enabling effective use of low-temperature waste heat, this approach supports the sustainable development of the chemical industry, lowering emissions and enhancing air quality. In 2023, the project achieved its goal of supplying heating of 10 million square meters for residential use, with full production set to reduce coal use by 2.6 million tons and heat 64 million square meters annually, and is capable of adopting and promoting on a larger scale.

Wanhua's diphenylmethane diisocyanate (MDI) technology uses wastewater recycling to efficiently process high-concentration amine-containing waste brine, reducing brine emissions by 3 million tons and cutting carbon emissions by 140,000 tons annually. Additionally, a pioneering hydrogen chloride (HCl) oxidation cycle technology reuses HCl by converting it into high-purity chlorine for the MDI production process. This approach cuts electricity use from 1,250 kWh to 245 kWh per ton of chlorine, saving 710 million kWh and reducing COâ‚‚ emissions by about 700,000 tons each year.

Polycarbonate (PC) and thermoplastic polyurethane (TPU) have established recycling methods, yet over 78% of waste plastics remain unrecyclable. In the home appliance sector alone, over 5 million tons of polyurethane foam are incinerated or landfilled annually, contributing to pollution. Wanhua's alcoholysis technology breakthrough now enables polyurethane foam recycling, recovering up to 30% of polyol without product degradation. Leading global brands have expressed interest in partnering on this innovation.

In today's fast-paced world, Wanhua's functional, continuous environmentally friendly innovations serve daily life in globe-wide markets:

-  MDI adhesive-based, formaldehyde-free furniture eliminates formaldehyde release, while slow-rebound polyurethane ensures a better living experience.
-  Materials like Nylon 12, HDI-type TPU, bio-based TPU, and others enhance comfort during sports activities.
-  Wanhua leads in high-performance optical materials, offering solutions like high-refractive polycarbonate (PC), light-guiding PC, optical-grade polymethyl methacrylate (PMMA), MS, Cyclic Olefin Copolymer (COC) and Cyclic Olefin Polymer (COP) for industries such as home appliances, electronics, automobiles, and lighting.
-  High-purity rose alcohol and menthol offer premium fragrances for personal care.
-  Medical-grade materials like polysulfone, PC, PVC, and TPU meet the performance demands of medical devices.
-  Wanhua's sustainable materials support energy-efficient building, low-carbon travel, and improved lives with nutritional chemicals and formaldehyde-free products.

For more innovation and sustainable practices from Wanhua Chemical, please visit https://en.whchem.com/.

** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **

COP29: Wanhua Chemical Reveals Multiple Innovations that Drive Carbon Neutrality in Chemical Industry Supply Chain

In the news release, FUTURE FUND OMAN LAUNCHES FIRST WAVE OF INVESTMENT PROJECTS WORTH OVER US$ 2 BILLION, issued 20-Nov-2024 by Oman Investment Authority over PR Newswire, we are advised by the company that the sentence, should read , Other major partnerships include the IDG Oman Fund, developed in collaboration with IDG Capital, an international investment firm with a global footprint and extensive experience in China, focusing on ICT rather than , Other major partnerships include the IDG Oman Fund, developed in collaboration with China's IDG Capital, on ICT as originally issued inadvertently. The complete, corrected release follows:

FUTURE FUND OMAN LAUNCHES FIRST WAVE OF INVESTMENT PROJECTS WORTH OVER US$ 2 BILLION

MUSCAT, Oman, Nov. 22, 2024 /PRNewswire/ -- Future Fund Oman (FFO), the latest investment initiative under Oman Investment Authority (OIA), has announced its first batch of approved investment projects. With a combined value exceeding US$ 2 billion, these projects include US$ 1.6 billion committed by foreign investors and US$ 571 million contributed by FFO. The investments are expected to create more than 1,600 direct employment opportunities, marking a significant step forward in Oman's economic diversification and development strategy.

The approved projects span ten key sectors, including technology, manufacturing, tourism, renewable energy, and electric vehicles. In addition, small and medium enterprises (SMEs) and startups will play a prominent role, with investments targeting food, health, financial technology, e-commerce, and more. This comprehensive approach reflects FFO's commitment to fostering innovation and growth across a broad spectrum of industries, ensuring that both large-scale ventures and emerging businesses contribute to Oman's economic progress.

Mulham Al Jarf, Deputy President for Investments at Oman Investment Authority, stated that these projects underscore the Fund's dedication to fulfilling its strategic objectives. These include stimulating local economic growth, fostering collaboration with the private sector, attracting foreign investments, and creating opportunities for Omani businesses and job seekers. He emphasized that these projects represent just the beginning of FFO's efforts since its establishment in January 2024.

Among the approved projects are transformative initiatives that position Oman as a leader in innovative industries. Notable projects include the United Solar Polysilicon Plant in the SOHAR Port and Freezone, which will be one of the largest polysilicon production facilities in the world and the first of its kind in the Middle East. This facility will produce 100,000 tonnes of polysilicon annually, a critical component for renewable energy industries such as solar panel manufacturing.

Other major partnerships include the IDG Oman Fund, developed in collaboration with IDG Capital, an international investment firm with a global footprint and extensive experience in China, focusing on ICT, renewable energy, and electric vehicles. Additionally, FFO has also partnered with EW Partners to establish the EWP Oman Fund, which targets key sectors such as ICT, energy, tourism, and agriculture.

Future Fund Oman is also supporting a range of SMEs and startups in partnership with fund managers like Tanmia, ITHCA, Omantel, and Cyfr Capital. These include IO Kitchen, an innovative cloud kitchen featuring over 30 virtual brands; Bima, an online insurance brokerage service; and Qpay, the first licensed Omani entity offering a "buy now, pay later" service. Other groundbreaking projects include BcLear Aligner, an AI-powered solution for dental braces; Nashid, a blockchain-based digital identity platform; and Antom, a digital financial platform that enhances the capabilities of Oman's fintech ecosystem.

FFO was established in collaboration with the Ministry of Finance with a capital of $5.2 billion, allocated over five years from 2024 to 2028. The Fund strategically excludes investments in oil, gas, and real estate, focusing on growth-oriented sectors aligned with Oman's Vision 2040.

Interested investors are invited to submit proposals through the dedicated platform, https://futurefund.om/futurefund/

Media Contact:

Fahad Al Toubi
+968 24745781
Fahad.AlToubi@oia.gov.om
www.oia.gov.om

** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **

FUTURE FUND OMAN LAUNCHES FIRST WAVE OF INVESTMENT PROJECTS WORTH OVER US$ 2 BILLION