Day: July 10, 2024

• New facility will produce electrolysis and fuel cell components to support the global energy transition
• Production is planned to commence in the summer of 2025
• Joint investment with other partners

BUDENHEIM, Germany, July 10, 2024 (GLOBE NEWSWIRE) — BASF Environmental Catalyst and Metal Solutions (ECMS) commenced construction of its first state-of-the-art production facility for green hydrogen and fuel cell components in Budenheim, Germany, near Frankfurt. The products produced at this site will include newly developed low-iridium-loaded catalyst coated membranes (CCMs), a key functional part for proton exchange membrane (PEM) water electrolysis. This will complement the Celtec^® membrane electrode assemblies (MEAs) for high-temperature fuel cells, which will also be produced at the facility. MEAs are critical components in fuel cells that enable hydrogen together with oxygen from the air to be converted efficiently into electricity.

The ECMS hydrogen business operates globally, with activities in Europe, North America and Asia. As the renewable energy ecosystem develops rapidly, the production of green hydrogen from water electrolysis will become a crucial pillar in supporting the global energy transition. The new facility will enable the commercial launch of newly developed CCMs for PEM electrolyzers with multi-gigawatt capacity to serve the global market. This investment allows ECMS to expand its capabilities in precious metals, catalysts and recycling, positioning itself as an integrated, full-loop, end-to-end solution provider across a range of product lines in the green hydrogen space.

“This new site in Budenheim fulfills a key part of our global strategy for hydrogen,” said Tim Ingle, Senior Vice President of Precious Metal Services and Recycling for ECMS. “As a global leader in precious metals services and catalyst recycling, the investment solidifies our support for the growing hydrogen economy with circular solutions that improve performance and reduce costs for PEM electrolyzers and fuel cells.”

“Our new products have progressed successfully from R&D into pilot scale. Production in Budenheim signifies a major milestone for the market introduction of these products and positions us in a strong place to leverage this sizeable business opportunity,” said Saeed Alerasool, Senior Vice President R&D and Application for ECMS.

The opening of the Budenheim site is planned for the summer of 2025. The facility, on the premises of an industrial site, is situated in the center of Europe within the Rhein-Main metropolitan area. The project is being developed with Trigona Fuel Cell Components GmbH and Grundstücksverwaltung Rheinufer GmbH & Co. KG.

About BASF Environmental Catalyst and Metal Solutions

Leveraging its deep expertise as a global leader in catalysis and precious metals, BASF Environmental Catalyst and Metal Solutions (ECMS) serves customers in many industries including automotive, aerospace, indoor air quality, semiconductors, and hydrogen economy, and provides full loop services with its precious metals trading and recycling offering. With a focus on circular solutions and sustainability, ECMS is committed to helping our customers create a cleaner, more sustainable world. Protecting the elements of life is our purpose and this inspires us to ever-new solutions. ECMS operates globally in 16 countries with over 4,500 employees and 21 production sites.

Media Relations contact: Betsy Arnone +1 973-519-9808 Email: betsy.arnone@basf-catalystsmetals.com	Additional contact: Katarzyna Postawa +48 882001062 Email: katarzyna.postawa@basf-catalystsmetals.com	BASF ECMS 33 S. Wood Ave Iselin, NJ 08830 www.basf.com/ecms

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8c267139-bb57-4ebf-9a9c-411bbbfa7787

GlobeNewswire Distribution ID 9175995

MONTRÉAL, July 10, 2024 (GLOBE NEWSWIRE) — Bombardier announced today that Unifor’s Locals 112 and 673 members, working at the company’s Aircraft Assembly Centre in the Greater Toronto area, have voted in favour of ratifying a renewed 3-year collective agreement.

Bombardier is committed to the site and the continued success of its industry-leading Global family of aircraft, for which normal assembly operations will resume today.

About Bombardier

At Bombardier (BBD-B.TO), we design, build, modify and maintain the world’s best-performing aircraft for the world’s most discerning people and businesses, governments and militaries. That means not simply exceeding standards, but understanding customers well enough to anticipate their unspoken needs.

For them, we are committed to pioneering the future of aviation—innovating to make flying more reliable, efficient and sustainable. And we are passionate about delivering unrivaled craftsmanship and care, giving our customers greater confidence and the elevated experience they deserve and expect. Because people who shape the world will always need the most productive and responsible ways to move through it.

Bombardier customers operate a fleet of approximately 5,000 aircraft, supported by a vast network of Bombardier team members worldwide and 10 service facilities across six countries. Bombardier’s performance-leading jets are proudly manufactured in aerostructure, assembly and completion facilities in Canada, the United States and Mexico.

For Information

For corporate news and information, including Bombardier’s Environmental, Social and Governance report, as well as the company’s plans to cover all its flight operations with a Sustainable Aviation Fuel (SAF) blend utilizing the Book and Claim system visit bombardier.com.

Learn more about Bombardier’s industry-leading products and customer service network at bombardier.com. Follow us on X @Bombardier.

Media Contacts
General media contact webform

Mark Masluch
+1 514 855-7167
mark.masluch@aero.bombardier.com

Bombardier and Global are registered or unregistered trademarks of Bombardier Inc. or its subsidiaries.

GlobeNewswire Distribution ID 9175986

HANOI, VIETNAM – Media OutReach Newswire – 10 July 2024 – VinFast, a pioneering Vietnamese electric vehicle (EV) manufacturer, is making waves on the global stage with its meteoric rise. This upstart, emblematic of Vietnam’s burgeoning economic power, has now set its sights on the electric vehicle market in the Middle East.VinFast EV manufacturing complex in Hai Phong, Vietnam

Haiphong Harbor, once a symbol of a war long past, has serves as a tangible emblem of Vietnam’s rapid economic ascent. Yet, Haiphong signifies something even more profound – it’s the birthplace of VinFast, Vietnam’s first homegrown automaker with global ambitions.

A subsidiary of Vingroup, Vietnam’s largest conglomerate, VinFast has not only emerged as the country’s first carmaker but also established itself as a pioneer in the EV revolution.

VinFast’s Rapid Ascent

VinFast owes its existence to the vision and ambition of Vietnam’s richest man and Vingroup’s founder, Pham Nhat Vuong. Known for his decisiveness, Vuong established the car company in 2017.

Following the launch of 3 gasoline models, VinFast made a bold move: it was going all electric. The company delivered its first EVs to Vietnamese customers in December 2021, a remarkable feat achieved in less than five years.

The motivation behind VinFast’s lightning pace lies in Vuong’s laser focus and strategic partnerships. Vingroup, with its vast and multi-facet resource, leveraged their expertise in construction and real estate development to establish a nationwide network of charging stations. To accelerate development, VinFast partnered with some of the automotive world’s heavyweights, including BMW and Pininfarina.

But why electric? Vuong once said that a large, successful enterprise such as Vingroup has a duty to contribute to its homeland by way of building a quality brand capable of competing with the world’s best.

“VinFast is not only a business project, but a devotion project,” he declared in a recent interview with Bloomberg.

Journey To The West 

Initial domestic success proved to be a mere stepping stone for VinFast.

In 2022, the first VinFast VF 8s arrived on North American shores. The following year, VinFast debuted on NASDAQ, becoming a publicly listed company. VinFast’s bold foray into the U.S. market “sends a message about Vietnam’s rising profile in the global economy,” writes one expert.

Setting Sights on the Middle East

VinFast isn’t solely focused on North America. The company is also expanding into Asia, Africa, and the Middle East. The latter region, with its growing environmental awareness and ambitions to diversify from fossil fuels, presents a particularly promising market for electric vehicles.

This is evident in the ambitious targets set by countries like the UAE, which aims to have 50% of its vehicles electric by 2050. Additionally, Saudi Arabia’s investments in one American EV company further highlight the region’s commitment to electric mobility.

The Middle East’s young, affluent demographic also presents a lucrative market for VinFast’s electric vehicles. Mordor Intelligence projects the region’s EV market to experience a Compound Annual Growth Rate (CAGR) of 23.20% between 2024 and 2029, reaching USD 9.42 billion.

VinFast has already begun making its moves in the region. In Oman, the company has partnered with Bahwan Automobiles Trading to distribute their electric vehicles. In the UAE, it has signed an exclusive dealership agreement with Al Tayer Motors. And more recently, VinFast has established a regional headquarters in Dubai.

VinFast’s foray into the Middle East signifies a new chapter in the brand’s global expansion and the region’s shift toward sustainable transportation. Only time will tell if VinFast’s Middle Eastern venture will replicate its domestic success, but the early signs are promising.

BANGKOK, THAILAND – Media OutReach Newswire – 10 July 2024 – PTT Oil and Retail Business Public Company Limited (OR), a key player within the PTT Group and a leader in Thailand’s oil retail sector, proudly announces the reaffirmation of its “AA+” credit rating by TRIS Rating Co., Ltd., Thailand’s premier credit rating agency. This marks the second consecutive year OR has achieved this high rating, which comes with a “Stable” outlook. This recognition underscores the company’s exceptional operational performance and strong financial health, both critical as it continues to expand its market presence globally.

Continued Excellence in the Thai Oil Retail Market

Mr. Disathat Panyarachun, Chief Executive Officer of OR, expressed his pride in the company’s ongoing leadership in distributing both retail oil and commercial petroleum products across Thailand. “This sustained top-tier rating from TRIS not only highlights our robust financial policies but also reinforces our pivotal role within the PTT Group in efficiently distributing petroleum products,” said Mr. Disathat.

Strengthening Market Leadership with PTT Lubricants

As the manufacturer and distributor of PTT Lubricants for over three decades, OR has secured the leading market share in Thailand. The company is dedicated to innovation under the guiding principle of “The Moving Innovation,” focusing on creating advanced product formulas for automotive and industrial applications and forming OEM partnerships with various car manufacturers.

“Our commitment to continuous improvement in product quality and innovation is designed to meet the changing needs of our customers,” Mr. Panyarachun added. OR’s state-of-the-art Automated Lubricants Distribution Center, with a yearly capacity of 260 million liters, supports efficient market expansion both in Thailand and internationally. The company also enhances its competitive edge by offering extensive product knowledge training and after-sales services to both consumers and distributors.

Global Expansion and Recognition

PTT Lubricants has successfully extended its reach beyond domestic markets, exporting to over 40 countries across the AEC, Asia, Africa, and Europe. This international presence underscores the brand’s quality and reliability, affirming its status as a trusted global brand. “Our international success is a testament to the global competitiveness of PTT Lubricants. We continue to focus on expanding our market presence and meeting the sophisticated needs of consumers worldwide,” stated Mr. Panyarachun. The expansion strategy includes leveraging brands like Café Amazon and PTT Station alongside PTT Lubricants to enhance its market presence globally.

PTT Lubricants Accelerates Market Influence Across Southeast Asia and Taiwan

Indonesia emerges as a pivotal market for PTT Lubricants, fueled by its fast-growing automotive sector, economic progress, and demographic expansion. PTT Lubricants has partnered with PT Sumber Suwarna Unisindo, a seasoned distributor renowned for its deep expertise in the lubricant industry, covering both automotive and industrial applications. This collaboration ensures the delivery of superior quality products complemented by exceptional after-sales services to Indonesian consumers.More details can be found at pttlubricants.co.id.

In the Philippines, the consistent upward trajectory in the demand for automotive and industrial lubricants solidifies the country’s importance to PTT Lubricants. Distribution is expertly handled by PTT Philippines Corporation (PTTPC), a direct subsidiary of OR, which also diversifies its portfolio with ventures like PTT Station fuel stations and Café Amazon coffee shops. Further information is available at pttphilippines.com.

Malaysia‘s strategic position as a trade and investment nucleus in ASEAN, coupled with booming automotive and transportation sectors, makes it a key market for PTT Lubricants. Distribution channels are robust, with four main agents including TS Oil Pro Plt. and Big Essential Sdn. Bhd. in West Malaysia, and Efuel Service Sdn. and Golden Automotive Trading Sdn. Bhd. in East Malaysia, ensuring comprehensive market coverage.More details are available on the Facebook Fan page: PTT Lubricants Malaysia.

Taiwan has seen over 14 years of PTT Lubricants’ presence, where it has solidified its market position through its distributor, Dynamax Petrochemical Ltd. The focus on high-quality motorcycle and gasoline products, along with strategic marketing efforts, has built a reputable image among high-end clients, including European luxury car owners and racing enthusiasts. Discover more at pttortw.com.

Each of these markets plays a crucial role in PTT Lubricants’ strategy to deepen its international footprint, emphasizing the brand’s commitment to quality, innovation, and customer satisfaction.

About PTT Oil and Retail Business Public Company Limited (OR)

PTT Oil and Retail Business Public Company Limited (OR), a cornerstone of the PTT Group, champions a dynamic fusion of energy and retail to drive inclusive growth. OR is ardently committed to its revolutionary SDG framework—Small, Diversified, and Green. Embracing this ethos, OR uplifts communities, cultivates expansive business opportunities, and spearheads sustainability efforts with ambitious goals of achieving carbon neutrality by 2030 and net zero emissions by 2050. Through this dynamic framework, OR is setting new standards for sustainability and inclusivity in the industry.

 Website: www.pttor.com