30 September 2024
A.P. Moller Holding launches Vioneo to pioneer fossil-free plastics production
A.P. Moller Holding has launched Vioneo, a new venture dedicated to transforming plastics production. Vioneo will manufacture fossil-free plastic resins and significantly reduce the carbon footprint associated with plastics production.
The plastics industry faces significant environmental challenges, due to the dependence on fossil feedstock in production and lack of end-of-life recycling. Given the essential role of plastics across various sectors, from medical equipment to food packaging, developing and commercialising fossil-free plastics production methods is crucial to meet the 2050 net zero targets.
Vioneo has designed a production method utilising an innovative and proven technology to produce fossil-free polypropylene (“PP”) and polyethylene (“PE”) at scale, using green methanol as a feedstock. This technology ensures a fully segregated and traceable supply chain, avoiding the mixing of non-certified and certified feedstocks. The production will be powered by renewable electricity, significantly reducing GHG emissions. The end-product will be 100% fossil-free and ISCC plus certified, suitable for applications across all sectors including medical appliances, home goods, automotive and packaging.
Jan Secher has been appointed Chair of the Board of Directors of Vioneo. Secher brings decades of leadership experience, including being CEO of Clariant AG and Perstorp Group. Alex Hogan has been appointed Chief Executive Officer of Vioneo, effective November 11th, 2024. Previously, Hogan served as Business Director at INEOS Olefins and Polymers and brings extensive experience in managing large-scale industrial operations.
“A.P. Moller Holding is committed to driving the transition to low-carbon and fossil-free sources by advancing green methanol production and its applications across various sectors. The launch of Vioneo marks a significant step in this commitment. With Jan Secher and Alex Hogan leading the initiative, I am confident that Vioneo is well-positioned to spearhead the shift towards a more sustainable plastics and chemicals industry. However, success also depends on other key stakeholders being willing to lean in together with us.”
“Vioneo represents a strategic shift in plastics production. By adopting advanced proven technologies and green methanol, we are addressing fundamental environmental challenges associated with conventional plastics, while simultaneously offering a significant opportunity for Europe to lead the defossilisation of the €5 trillion global chemicals and materials sector, securing a leading position for Europe in the transition. We are excited about the potential to lead this transformation and contribute to a more sustainable future for the plastics industry.”
Vioneo intends to establish its first production complex in Antwerp, Belgium, Europe’s largest integrated chemical cluster. The Antwerp plant will benefit from the region’s expertise in the chemicals industry, strong export facilities and access to renewable energy.
The production plant and supply base will require an investment of nearly €1.5bn of equity and debt. The funding depends on broad stakeholder support, including updated regulatory frameworks and policies supporting a competitive environment for fossil-free plastics, as well as better conditions for the European chemicals industry such as lower energy costs. Furthermore, the success of the venture requires long-term offtake agreements of its customers. Vioneo is in advanced discussions with several major global brands from various industries, including healthcare, automotive, fast moving consumer goods, beauty and home products.
Vioneo’s projected plans for the Antwerp based plant will proceed in phases, with a Front-End Engineering Design (FEED) set to begin in Q4 2024 and with potential Final Investment Decision (FID) in 2025. Commercial operations may commence during 2028.
News from the A.P. Moller Group
A.P. Moller Holding announces a recommended public cash offer to the shareholders of Concentric
A.P. Moller Holding’s wholly-owned subsidiary Circle Bidco ApS has announced a recommended public cash offer to acquire Concentric AB, a Swedish provider of flow control and fluid power technology for the commercial vehicle market, listed on Nasdaq Stockholm. The offer of SEK 230 in cash per share in Concentric has been unanimously recommended by the Board of Directors in Concentric, and is backed by shareholders in Concentric together controlling 16.7 percent of the outstanding shares in the company.
A.P. Moller Holding combines Maersk Supply Service with DOF Group and creates Maersk Offshore Wind
A.P. Moller Holding has entered into an agreement to combine its subsidiary Maersk Supply Service A/S with Norwegian DOF Group ASA (DOF Group) to create a leader supporting the offshore oil and gas industry. Maersk Supply Service’s innovative wind offshore installation concept will remain owned by A.P. Moller Holding as an independent offshore maritime company named Maersk Offshore Wind, focusing the growing global offshore wind installation market.
A.P. Moller invests in Tenderd
Tenderd is a global leader in digital transformation for heavy equipment management and operations.
Chetan Mehta, Head of Growth Equity at A.P. Moller Holding, said: “Tenderd is a leader within telematics solutions with a platform that offers real-time visibility and insights for heavy equipment across a range of industries. Their solutions enhance operational efficiencies, improve safety and mitigate carbon emissions. We are excited to be investing in Tenderd and we look forward to contributing to their continued growth.”