INTERNATIONAL PRIVATE EQUITY CONSORTIUM FINALIZES PURCHASE OF CLEAN TECHNOLOGIES BUSINESS FROM DUPONT
New, independent company becomes Elessent Clean Technologies
CHESTERFIELD, MO, USA, January 3, 2022 – New Year’s Day marked the beginning for Elessent Clean Technologies as an international private equity consortium, consisting of BroadPeak Global LP (“BroadPeak”), Asia Green Fund (“AGF”) and The Saudi Arabian Industrial Investments Company (“Dussur”) (collectively, the “Group”), completed its transaction to purchase the Clean Technologies business of DuPont de Nemours, Inc. (“DuPont”) (NYSE: DD) on December 31, 2021.
The new, independent company has been named Elessent Clean Technologies (“Elessent”) and is a global leader in process technologies to drive sustainability and carbon neutrality in the metal, fertilizer, chemical and oil refining industries. Elessent retains exclusive rights to the technologies, expertise, products, and services to which these industries have grown accustomed from the Clean Technologies business over the years, including: MECS® sulfuric acid and environmental technologies, BELCO® scrubbing technologies, STRATCO® alkylation technology and IsoTherming® hydroprocessing technology.
“We are excited about what the future holds for us as a standalone company,” said Elessent CEO, Eli Ben-Shoshan, “The strong global expertise of the Group will accelerate our mission to deliver the technology and tailored solutions our customers need to more efficiently produce cleaner products for the world.”
Derived from the words “element” and “essential,” Elessent helps customers produce, optimize or separate essential elements every day. From the production of carbonless energy to the production of sulfuric acid for the metals and fertilizer industries, and from removal of sulfur from refined oil products to air pollution control, Elessent creates clean alternatives to traditional industrial processes to minimize the impact on the environment while enabling our customers to produce essential elements critical to everyday life.
About Elessent Clean Technologies
Elessent Clean Technologies is a global leader in process technologies to drive sustainability and carbon neutrality in the metal, fertilizer, chemical and oil refining industries with an unwavering commitment to customer support. We provide extensive global expertise across our portfolio of offerings in key applications – MECS® sulfuric acid production, STRATCO® alkylation, BELCO® wet scrubbing and IsoTherming® hydroprocessing. Offering critical process equipment, products, technology and services, we enable an array of industrial markets, including phosphate fertilizer, non-ferrous metals, oil refining, petrochemicals and chemicals, to minimize their environmental impact and optimize productivity. We are dedicated to helping our customers produce high-quality products used in everyday life in the safest, most environmentally-sound way possible, with a vision to make the world a better place by creating clean alternatives to traditional industrial processes. Learn more at www.ElessentCT.com
About BroadPeak Global
BroadPeak Global LP ("BroadPeak Global") is an independent private equity firm dedicated to opportunistic buyouts and special situations transactions in the global industrials, materials and chemicals sectors. BroadPeak Global's Co-Founders, Stephen Toy and Nadim Qureshi, previously served in various leadership roles at Invesco Private Capital and WL Ross & Co. and share a deep heritage of successfully operating and investing across multiple geographies. BroadPeak Global is headquartered in New York City. Learn more at broadpeakglobal.com
About Asia Green Fund
Asia Green Fund ("AGF") is a private equity firm, with approximately $2.0 billion in assets under management, that specializes in the industrials and business services sectors with a focus on technology-enabled green impact investments. Founded in 2016 as Asia's pioneer in impact investing, AGF backs talented entrepreneurs and management teams as they commercialize innovative technologies with localized business models, thus generating both attractive financial returns for investors as well as a positive ESG impact on society. Learn more at asiagreenfund.com
The Saudi Arabian Industrial Investments Company ("Dussur") is a strategic industrial investment firm that partners with world-class experts to form state-of-the-art joint ventures including M&A in the industrials sector. Dussur executes regional and international industrial investments, creating value for its partners and shareholders. Learn more at dussur.com