ClearVue signs MOU with Grafsol for green building projects in Middle East
Smart building materials company ClearVue Technologies Limited has signed an MOU with Grafsol for exclusive distribution rights in the United Arab Emirates, Kuwait, Bahrain and Qatar and non-exclusive distribution rights in Saudi Arabia.
Grafsol General Trading LLC is an independent trading company in the business of importation and sale of green building products (amongst other things) in the United Arab Emirates (UAE) and has extensive contacts into the building industry and government agencies in the greater middle east region.
Under the terms of the non-binding MOU the Parties will work together to formalize a Distribution Licence as soon as possible with the expectation that this is completed and signed within 60 days of the MOU being signed but subject to satisfactory due diligence of Grafsol by ClearVue.
Commenting on the MOU, Executive Chairman Victor Rosenberg said: “This MOU represents a great opportunity for ClearVue to break into the Middle Eastern region. The initial licence will give ClearVue feet on the ground for sale and distribution into this very large market. Whilst we will initially sell product for distribution through Grafsol, the hope from both sides is that the relationship will quickly be extended to include manufacturing rights for this territory as well. The aim now for Grafsol will be to secure cornerstone demonstration projects where ClearVue’stechnology can best be deployed and displayed. Grafsol’s longer term vision is to use ClearVue glass to become a virtual power supplier in the region - demonstrating yet another way to exploit the ClearVue technology."
Trafigura and Yara International explore clean ammonia usage
Reducing shipping emissions is a vital component of the fight against global climate change, yet Greenhouse Gas emissions from the global maritime sector are increasing - and at odds with the IMO's strategy to cut absolute emissions by at least 50% by 2050.
How more than 70,000 ships can decrease their reliance on carbon-based sources is one of transport's most pressing decarbonisation challenges.
Yara and Trafigura intend to collaborate on initiatives that will establish themselves in the clean ammonia value chain. Under the MoU announced today, Trafigura and Yara intend to work together in the following areas:
- The supply of clean ammonia by Yara to Trafigura Group companies
- Exploration of joint R&D initiatives for clean ammonia application as a marine fuel
- Development of new clean ammonia assets including marine fuel infrastructure and market opportunities
Magnus Krogh Ankarstrand, President of Yara Clean Ammonia, said the agreement is a good example of cross-industry collaboration to develop and promote zero-emission fuel in the form of clean ammonia for the shipping industry. "Building clean ammonia value chains is critical to facilitate the transition to zero emission fuels by enabling the hydrogen economy – not least within trade and distribution where both Yara and Trafigura have leading capabilities. Demand and supply of clean ammonia need to be developed in tandem," he said.
There is a growing consensus that hydrogen-based fuels will ultimately be the shipping fuels of the future, but clear and comprehensive regulation is essential, according to Jose Maria Larocca, Executive Director and Co-Head of Oil Trading for Trafigura.
Ammonia has a number of properties that require "further investigation," according to Wartsila. "It ignites and burns poorly compared to other fuels and is toxic and corrosive, making safe handling and storage important. Burning ammonia could also lead to higher NOx emissions unless controlled either by aftertreatment or by optimising the combustion process," it notes.
Trafigura has co-sponsored the R&D of MAN Energy Solutions’ ammonia-fuelled engine for maritime vessels, has performed in-depth studies of transport fuels with reduced greenhouse gas emissions, and has published a white paper on the need for a global carbon levy for shipping fuels to be introduced by International Maritime Organization.
Oslo-based Yara produces roughly 8.5 million tonnes of ammonia annually and employs a fleet of 11 ammonia carriers, including 5 fully owned ships, and owns 18 marine ammonia terminals with 580 kt of storage capacity – enabling it to produce and deliver ammonia across the globe.
It recently established a new clean ammonia unit to capture growth opportunities in emission-free fuel for shipping and power, carbon-free fertilizer and ammonia for industrial applications.