Amsterdam, 05 July 2022 — Shell & AMG Recycling B.V. (“SARBV”) and its partner, the United Company for Industry (“UCI”), announced the signing of an agreement (“the Agreement”) with the Saudi Arabian Oil Company (“Aramco”) under which SARBV and UCI shall construct and operate a world-class ‘Metals Reclamation Complex’ for the recovery and recycling of metals in Al-Jubail Industrial City, in Saudi Arabia (“the Kingdom”).
The Agreement is in support of the Kingdom’s [Vision 2030] ambitions to accelerate energy transition, achieve sustainability aspirations and drive circular investment in the Kingdom, and in alignment with the Aramco Namaat Industrial Investments Program initiative that aims to build national champions, create a robust industrial ecosystem and introduce unique job opportunities.
As the Kingdom and the GCC region are becoming globally pivotal for the supply and demand of the metal, vanadium, as well as the upgrading of the bottom-of-the-barrel, the Metals Reclamation Complex seeks to enable the development of a world-class and regional facility for processing refineries’ recyclable materials into valuable products. In support of this initiative, this Agreement aims to be the initial phase of the Supercenter complex, with the processing of the metal vanadium concentrate from the Jazan Integrated Gasification Combined Cycle Plant, licensed by Shell, to produce high-purity Vanadium Pentoxide; build a regional research and development center for testing a residue-upgrading catalyst; install a Lithium Vanadium Battery (“LIVA”); and install a vanadium electrolyte production plant, an important step in the development of a market for Vanadium Redox Flow Batteries in the Kingdom.
The Agreement also addresses later phases of the visionary “In-Kingdom Supercenter” that include expanding recycling capabilities, as well as a regional hub for spent residue catalysts metals reclamation, and fresh residue-upgrading catalyst manufacturing. This unique combination of capabilities, all in one place, will provide an end-to-end solution for refiners, and aim to accelerate growing niche downstream industries in the Kingdom.
“Building upon Shell’s long and successful history with Aramco, we are very pleased to be working together to support the Kingdom’s [Vision 2030] energy transition ambitions. Sharing many sustainability goals, we are transforming our businesses and finding new opportunities to enable renewable energy, such as electricity generated by solar and wind power. The SARBV-UCI Aramco commitment will both contribute toward the Kingdom’s net zero 2060 target, while increasing the sustainability of the region’s current energy infrastructure with the reduction of waste materials production. Going beyond metals recycling, this project is the first step toward a supercenter that aims to support the region’s refining catalyst development, testing, and production. We look forward to continuing the energy transition journey together with SARBV-UCI and Aramco,” said Andy Gosse, President of Shell Catalysts & Technologies.
“We look forward to deepening our relationship with Aramco. The SARBV-UCI Aramco commitment to build the metal reclamation complex supports Saudi Arabia’s ambitions to accelerate energy transition, achieve sustainability goals and drive a new wave of investment in the Kingdom. Saudi Arabia’s ambitious commitments to CO2 reduction will necessitate the acceleration of its sustainability goals under Vision 2030. SARBV-UCI’s closed loop circular recycling of refinery waste to produce materials that will enable increasing penetration of renewable energy into the energy supply mix in the Kingdom, as well as improvements in energy efficiency for industrial users, which are all key drivers of the energy transition,” said Dr. Heinz Schimmelbusch, Chairman and CEO of AMG.
“We are excited to be contributing to the Kingdom’s journey as a promoter of circularity and renewable energies. In collaboration with Aramco and our international partners AMG and Shell, we are combining critical capabilities to extract valuable metal compounds from our natural resources. It is energizing to enable the development of clean energy storage innovations, as well as high tech metals value chains in the Kingdom through this investment. United Company for Industry is committed to investing in cutting-edge technologies and innovative materials. We consider this investment an important milestone in UCI’s path to becoming a recognized advanced materials supplier in the Kingdom and beyond,” said Sheikh Ibrahim Aljomaih, Chairman of UCI.
About the Saudi Arabian Oil Company (Aramco):
Aramco is a global integrated energy and chemicals company. We are driven by the core belief that energy is opportunity. From producing approximately one in every eight barrels of the world’s oil supply to developing new energy technologies, our global team is dedicated to creating impact in all that we do. We focus on making our resources more dependable, more sustainable and more useful. This helps promote stability and long-term growth around the world. www.aramco.com
Media Relations: International.media@aramco.com l Aramco
About United Company for Industry (UCI):
The United Company for Industry (UCI) is a member of the Aljomaih Group of Companies, a leading industrial group in The Kingdom of Saudi Arabia. UCI is committed to investing in sophisticated, integrated manufacturing assets to support the development of advanced downstream industries and the transformation plan outlined in Saudi Arabia’s Vision 2030. UCI’s scope includes advanced and specialty chemicals, mining and metals as well as natural resources in the energy and water segments. www.unitedindustry.com
About Shell & AMG Recycling B.V. (SARBV):
Shell & AMG Recycling B.V. brings together the innovative technology and operating experience of Shell and AMG to address refiners’ waste management challenges. In addition, refiners will benefit by creating value from their waste streams.
About Shell Catalysts & Technologies
The companies that comprise Shell Catalysts & Technologies, all of which are Shell’s wholly owned subsidiaries, provide technical services and licensed technologies. Shell Catalysts & Technologies also offers a market-leading catalyst portfolio with a specific focus on providing innovative refinery, petrochemical and environmental catalyst solutions. www.shell.com/CT
About AMG
AMG is a global critical materials company at the forefront of CO2 reduction trends. AMG produces highly engineered specialty metals and mineral products and provides related vacuum furnace systems and services to the transportation, infrastructure, energy, and specialty metals & chemicals end markets.
AMG Clean Energy Materials segment combines AMG’s recycling and mining operations, producing materials for infrastructure and energy storage solutions while reducing the CO2 footprint of both suppliers and customers. AMG Clean Energy Materials segment spans the vanadium, lithium, and tantalum value chains. AMG Critical Materials Technologies segment combines AMG’s leading vacuum furnace technology line with high-purity materials serving global leaders in the aerospace sector. AMG Critical Minerals segment consists of AMG’s mineral processing operations in antimony, graphite, and silicon metal.
With approximately 3,300 employees, AMG operates globally with production facilities in Germany, the United Kingdom, France, the United States, China, Mexico, Brazil, India, Sri Lanka, and Mozambique, and has sales and customer service offices in Japan (www.amg-nv.com).
For further information, please contact:
Nadiyah Almutairi
Corporate Relations Advisor
Shell Overseas Services Ltd – Saudi Arabia
Tel: +966 570000274
n.almutairi@shell.com
Hassan Almarashi
Head Media Relations Middle East & North Africa
Shell EP International Ltd
Tel: +9714 705 5783
Cell: +97156 226 0924
Hassan.Almarashi@shell.com
Mohammed Benchekchou
Shell & AMG Recycling B.V.
Vice President Business Development
Cell: +971569919941
m.benchekchou@shell.com
Michele Fischer
Vice President Investor Relations
AMG Advanced Metallurgical Group N.V.
+1 610 975 4979
mfischer@amg-nv.com
Ghalib Alharbi
Vice President Business Development
Tel: +966 506444469
ghalib@unitedindustry.com
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We may have used certain terms, such as resources, in this press release that United States Securities and Exchange Commission (SEC) strictly prohibits us from including in our filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our Form 20-F, File No 1-32575, available on the SEC website www.sec.gov.
Disclaimer
Certain statements in this press release are not historical facts and are “forward looking.” Forward looking statements include statements concerning AMG’s plans, expectations, projections, objectives, targets, goals, strategies, future events, future revenues or performance, capital expenditures, financing needs, plans and intentions relating to acquisitions, AMG’s competitive strengths and weaknesses, plans or goals relating to forecasted production, reserves, financial position and future operations and development, AMG’s business strategy and the trends AMG anticipates in the industries and the political and legal environment in which it operates and other information that is not historical information. When used in this press release, the words “expects,” “believes,” “anticipates,” “plans,” “may,” “will,” “should,” and similar expressions, and the negatives thereof, are intended to identify forward looking statements. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that the predictions, forecasts, projections and other forward-looking statements will not be achieved. These forward-looking statements speak only as of the date of this press release. AMG expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement contained herein to reflect any change in AMG’s expectations with regard thereto or any change in events, conditions, or circumstances on which any forward-looking statement is based.
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