Responding to the challenge: a strategy to meet future trends and drive change
The energy transition is driving both producers and customers to rethink their future needs and what kinds of products and solutions will be required to enable a sustainable future in terms of emissions waste and economics. The scale and complexity of the shift required are huge, but it will be driven by asset owners increasingly moving capital employed from traditional, legacy activities to new, greener assets and by customers placing a premium on sustainable products and consumption.
Increasing the pressure to address sustainability issues for the core business and to reduce CO2 emissions from legacy assets is creating new opportunities for traditional players and new entrants, opening up new markets. Environmental remediation, renewable energy, recycling, and cleaner fuels are just a few examples of the new business areas. As plastics recycled from waste increase in volumes for instance, oil required as feedstock for the plastic industry will significantly reduce, shifting profit pool from the hydrocarbon industry to new segments of the value chain (e.g. waste collection and management, recycling, petrochemicals).
Although our renewable power continues to evolve rapidly and have greater impact, we are anticipating the next phase of change to increasingly reduce more and more the chemicals, plastic, and lubricants we waste, and increase our recycling, to see hydrogen scaling become a long-term solution and the continued to scale bio feedstock into transport fuels and petrochemicals.
Circularity implies a process of restoration and regeneration, in which materials constantly flow around a 'closed loop' system, rather than being used once and then discarded; this means a need to develop and scale technologies for mechanical and chemical recycling, to adapt current industrial processes to use new circular feedstock deriving from waste, for the production of new, “circular” chemicals, or fuels, from waste.
The ability to develop partnerships between technology providers, industrial / energy companies, and feedstock management companies (be it waste or agricultural biomass) is a key success factor in developing green industry.
With a view to accelerating technological innovation in the energy transition, Maire Tecnimont is dedicating great attention, through NextChem, to developing technological solutions for improving waste recovery technologies in the circular economy, developing processes for the use of biological components as feedstock and innovations to reduce greenhouse emissions in traditional industrial processes.
NextChem is moving towards a more integrated approach where it acts as project developer of more articulated solutions. It orchestrates the work of the different players, be they industrial companies or producers, waste managers or suppliers, government authorities or regulators, or even investors. As such, NextChem is driving the establishment of new green business models, working alongside both producers and consumers to achieve a common goal that is taking up the energy transition challenge.
To deeply understand our Group’s strategy and activities and the role of NextChem, please read the 2019 Maire Tecnimont’s Sustainability Report here.
Visit our Maire Tecnimont Group’s Sustainability website: http://sustainabilityreport2019.mairetecnimont.com.