Yingde Gases will Provide Carbon Monoxide Supply Facilities for Handsome Chemical
On December 05, 2022, Yingde Gases Group（hereinafter referred to as Yingde Gases）and Handsome Chemical Group（hereinafter referred to as Handsome Chemical）signed a partnership agreement wherein Yingde Gases supplies carbon monoxide products to Handsome Chemical for its operations producing 600,000 tons of acetic acid a year.
Yingde Gases is a large-scale, professional gas company committed to furthering industrial development in China. In 2019, Yingde Gases successfully launched operations in Jingmen's Advanced Technology Zone, providing various industrial gases – hydrogen, nitrogen, carbon dioxide, etc. – required for on-site production, to various enterprises situated within the Advanced Technology Zone.
Handsome Chemical Group is one of the top 500 enterprises in China's chemical industry, and the largest producer of acetic acid in the world. This agreement marks the beginning of the very first strategic partnership between Yingde Gases and Handsome Chemical. To meet gas demand for Handsome Chemical's output in the Advanced Technology Zone – 600,000 tons of acetic acid a year – Yingde Gases will further diversify and optimize its current product line and build carbon monoxide facilities to ensure a steady supply to Handsome Chemical of 35,000 m3/h carbon monoxide. The implementation of this project will further improve efficiency of resource utilization inside Jingmen's Advanced Technology Zone, as well as provide additional support for the extension of the zone's production chains, and significantly enhance the gas supporting capacity of the zone.
Green and sustainable development sits in the center of Yingde Gases' corporate strategy. Yingde Gases is aiming to achieve a 30% reduction in carbon emissions of unit revenue by the year 2030. This partnership also serves as a precedent for the further reduction of carbon emissions within production chains. Upon project completion, yearly carbon emissions are expected to fall by more than 300,000 tons.
Yingde Gases Group CEO Steven Fang said: "Yingde Gases is committed to collaborating with partners from various enterprises to provide solid support for resource integration and industrial chain performance pairing within the industrial park. Yingde Gases also strives to provide efficient, agile and reliable industrial gas solutions to make contributions to the green development in China’s industries."
About AirPower Technologies
AirPower Technologies is an industrial gases investment group with global operations. We serve the local development and ensures the innovative development of capital businesses. AirPower's portfolio includes the gas products and service brands such as Yingde Gases Group and NovaAir, with a business footprint spanning across all provinces of China, as well as every region / nation in South and Southeast Asia.
About Yingde Gases Group
Yingde Gases Group is a subsidiary of AirPower Technologies, and a leader in industrial gas solutions in China. Yingde Gases specializes in on-site gas supply, clean energy, merchant business, engineering and design, hydrogen energy, and rare gases. Yingde Gases supplies high-quality industrial gas products such as oxygen, nitrogen, argon, and hydrogen by way of on-site pipelines, liquid sale and packaged gases. The group also offers clean energy solutions specifically for syngas comprised of hydrogen and carbon monoxide.
About Handsome Chemical Group
Established in 1993, Handsome Chemical Group is now the world's largest manufacturer of acetic acid, and China's largest acetic acid exporter. Handsome Chemical products are sold to clients around the world. The group claims more than a 30% share of the domestic market, and more than 20% of the market worldwide. Its operations are globalized for the production and supply of healthy, eco-friendly acetate-based solvents and aqueous, acrylate-based emulsion intermediates. The group's main products are ethyl acetate, n-propyl acetate, n-butyl acetate, butyl acetate-HS, and n-butyl acrylate. Handsome Chemical's annual production capacity for acetate now exceeds 1.5 million tons; and butyl acrylate, more than 100,000 tons.