NEW YORK and WILMINGTON, Del. and CHICAGO and RIYADH, Saudi Arabia, Feb. 1, 2021 /PRNewswire/ — An international private equity consortium consisting of BroadPeak Global LP (“BroadPeak Global”), Asia Green Fund (“AGF”) and The Saudi Arabian Industrial Investments Company (“Dussur”) (collectively, the “Group”) announced today that they have signed a definitive agreement whereby the Group will purchase the Clean Technologies business of DuPont de Nemours, Inc. (“DuPont”) (NYSE: DD) for $510 million in cash. As part of the transaction, Tensile Capital Management LP is providing preferred equity financing. The transaction is expected to close in the second quarter of 2021 subject to customary closing conditions and regulatory approvals.
WILMINGTON, Del., DuPont Clean Technologies (DuPont) has been awarded the contract to supply ORLEN Lietuva (ORLEN) with licensing, engineering, and technical services for a STRATCO® alkylation unit and a MECS® spent acid regeneration (SAR) unit at the Mažeikiai refinery in Mažeikiai, Lithuania. The Mažeikiai refinery processes an average of 8 million tons of crude per year with capacity of up to 10 million tons of crude per year. In order to increase refinery complexity and flexibility of the Mažeikiai refinery, ORLEN commissioned DuPont for a STRATCO® alkylation unit with 240 kmta (6,000 bpsd) alkylate capacity. The alkylation unit will utilize LPG in the conversion to alkylate, and therefore upgrade refinery profitability. The 75 mtpd MECS® SAR unit, also under license from DuPont, will provide the refinery with a consistent supply of sulfuric acid, which is utilized as the catalyst for the alkylation unit, while ensuring compliance with the region’s stringent emission regulations.