Yara acquires specialized marine air pollution reduction engineering firm
In acquiring environmental engineering company, Yara takes a major step in its development into a total Nitrogen Oxide NOx reduction solution provider for diesel vehicles, industrial plants and now ships, the company's press release said.
In the strategic acquisition of H+H Umwelt- und Industrietechnik GmbH, a leader in Marine Selective Catalytic Reduction (SCR) Technology, Yara continues to develop its comprehensive portfolio of NOx reduction systems. The deal enables Yara to stake a unique position in the area of NOx Emissions Control systems, as the only provider of both reagents and after-treatment systems for land and maritime applications.
“I am glad to announce that we have signed the agreement with H+H. Our core business addresses some of humanity’s biggest challenges, such as pollution of the environment. The H+H acquisition significantly increases our capacity in the emission to air reduction market, fitting well with Yara’s strategic goals as our air pollution abatement solutions are a growing part of our business.” says SVP and Head of Yara’s Industrial segment, Yves Bonte.
H+H is currently the market leader in marine SCR technology. Yara is the world leader in SNCR technology for stationary industrial plants. “There are clear synergies in bringing together technological know-how with Yara’s expertise and scale in reagent production and supply, enabling Yara to provide customers a total, seamless NOx reduction solution,” said Bonte.
For H+H Managing Partner Michael Heck, “the deal enables us to better serve existing customers. With Yara’s expertise we can be even better positioned to help customers around the world achieve their environmental targets in a reliable and cost-effective manner.”
NOx emissions result from the combustion of fossil fuels and are a major source of local air pollution in urban areas and ports. NOx cause acid rain, and react with volatile organic compounds (VOCs) to cause smog, causing respiratory diseases such as asthma and emphysema, and can aggravate heart disease and lead to premature death. Today, the WHO estimates that each year approximately 800000 premature deaths are caused by outdoor air pollution. Outdoor air pollution is recognized as the predominant trigger of asthma, now the most widespread chronic disease among children.
Increasingly stringent environmental regulations, including in the U.S. and Europe impose tougher NOx reduction standards on cruise ships, container ships and bulk carrier operators, as well as on power plants, waste incinerators and cement plant operators. H+H is currently a leading provider of SCR systems to these shipping and industrial markets. From 2016 and the implementation of new International Maritime Organization regulations, binding NOx control requirements will come into force across the world’s territorial waters.
Compact and fuel efficient, SCR systems are able to achieve more than a 90% reduction in NOx emissions with no increase in fuel consumption or reduction in engine performance– thereby providing a cost-effective compliance to emission requirements. “These cost-effective solutions make good business sense for our customers, enabling them to comply with stricter legislative requirements all while leaving a positive impact on their communities,” added Bonte.
In 2011, Yara introduced the concept of Creating Impact. Creating Impact is Yara’s overarching business strategy, enabling the company to create value for its shareholders, the environment and society at large. Recognizing how business solutions and societal interests intersect, Yara aims identify how mutual interests can create sustainable competitive advantages.
In this case, Yara creates global impact by offering solutions to tackle air pollution caused by nitrogen oxide emissions. “To us, the acquisition represents more than a great business opportunity, it represents a firm step in direction of becoming a true global provider of environmental solutions”, Bonte said. ”This is a major milestone in Yara’s development into a total NOx reduction solution provider for diesel vehicles, industrial plants and now ships.” Bonte concluded.