LyondellBasell plans to test a new electric furnace in olefins production at its plant at Channelview, Texas, the company announced on Thursday.
The chemical maker announced the signing of an MOU with Technip Energies and Chevron Phillips Chemical for the design, construction and operation of a demonstration unit based on Technip Energies' electric steam cracking furnace technology, and said a joint development agreement could be signed before the end of this year.
The three parties will assemble a joint development team for implementation of the project, which will come up at LyondellBasell's Channelview, Texas, site, the company said.
Peter Vanacker, CEO of LyondellBasell, said in a release the new furnace technology was being tested as part of LyondellBasell's attempt to reduce absolute scope 1 and 2 greenhouse gas emissions. The new furnace had the ability to reduce furnace greenhouse gas emissions "by up to 90%" compared to a conventional furnace, Vanacker said.
Chemical companies are among those looking for technological innovations and breakthroughs that will allow them to lower greenhouse gas emissions. German chemical company BASF has tied up with Siemens Energy to speed up commercial implementation of technologies designed to lower emissions.
LyondellBasell says it is committed to reaching net zero scope 1 and scope 2 greenhouse gas emissions by 2050. It has set interim targets to reduce scope 1 and 2 greenhouse gas emissions 42%, and scope 3 emissions 30% by 2030, relative to a 2020 baseline.