Nutrien and EXMAR Partner in Building a Vessel Powered by Low-Carbon Ammonia

 

  Leaders in low-carbon ammonia manufacturing and liquified gas transportation team up to reduce maritime emissions  

 

 Nutrien (TSX and NYSE: NTR) and EXMAR (EURONEXT: EXM) announced today that they have signed a Collaboration Agreement to jointly develop and build a low-carbon, ammonia-fueled vessel. Partners for over three decades in transporting ammonia globally, Nutrien is one of the world's largest producers of low-carbon ammonia and EXMAR is a leading player and innovator in the transportation of liquefied gas products.

 

  Decarbonization of Shipping  

 

Nutrien and EXMAR support the decarbonization of shipping and the International Maritime Organization's (IMO) Green House Gas (GHG) Strategy to reduce emissions. Their new collaboration aims to significantly reduce Nutrien's maritime transportation emissions and enable the commercial development of an ammonia-fueled vessel. Together, they will chart a clear path for wide adoption of low-carbon ammonia as a clean fuel for the maritime industry.

 

Nutrien has actively been pursuing the development of low-carbon ammonia for more than a decade, and has approximately 1 million tonnes of production capability through its Redwater and Joffre Alberta operations, as well as its Geismar, Louisiana facility which employs carbon capture and sequestration technology to reduce the carbon intensity of its ammonia for use as a maritime fuel.

 

"Nutrien is excited to partner with EXMAR on our shared journey to drive transformative reductions in maritime emissions," says Raef Sully, Nutrien's Executive Vice President and CEO of Nitrogen and Phosphate. "This initiative demonstrates how we are taking action to achieve our Feeding the Future Plan's 2030 sustainability commitments, which include investing in low-carbon ammonia innovations."

 

  Ambitious Goal Setting  

 

When compared to conventional fuels, it is anticipated that the use of Nutrien's existing low-carbon ammonia will achieve a reduction of greenhouse gas emissions of up to 40%. Emissions reductions of up to 70% can be achieved with the development of low-carbon ammonia using proven, scalable, best available technology and permanent sequestration of CO2.

 

Nutrien and EXMAR are confident that development of a vessel powered by low-carbon ammonia can align with IMO's 2050 goals, and expect deep decarbonization of the maritime industry to be achievable prior to 2030.

 

"EXMAR has always strived to contribute to innovations and increase efficiencies in gas logistics and transportation. The development of an ammonia-fueled vessel together with our long-standing partner Nutrien is an exciting and logical next step for us," says Jens Ismar, Executive Director Shipping.

 

Under the Collaboration Agreement, Nutrien and EXMAR will, amongst others, collaborate on the following:

 
  • Select an ammonia engine and supply system manufacturer
  •  
  • Select a shipyard capable of building an ammonia-powered vessel
  •  
  • Use Nutrien's existing low-carbon ammonia supply from Geismar, LA as a fuel
  •  
  • Deploy an ammonia-fueled vessel as early as 2025
  •  

  About Nutrien  

 

Nutrien is the world's largest provider of crop inputs and services, playing a critical role in helping growers increase food production in a sustainable manner. We produce and distribute around 27 million tonnes of potash, nitrogen and phosphate products world-wide. With this capability and our leading agriculture retail network, we are well positioned to supply the needs of our customers. We operate with a long-term view and are committed to working with our stakeholders as we address our economic, environmental and social priorities. The scale and diversity of our integrated portfolio provides a stable earnings base, multiple avenues for growth and the opportunity to return capital to shareholders.

 

Learn more at www.nutrien.com .

 

  About EXMAR NV  

 

EXMAR is a provider of floating solutions for the operation, transportation and transformation of gas. EXMAR's mission is to serve customers with innovations in the field of offshore extraction, transformation, production, storage and transportation by sea of liquefied natural gases, petrochemical gases and liquid hydrocarbons. EXMAR creates economically viable and sustainable energy value chains in long-term alliances with first-class business partners. EXMAR designs, builds, certifies, owns, leases and operates specialised, floating maritime infrastructure for this purpose as well as aiming for the highest standards in performing commercial, technical, quality assurance and administrative management for the entire maritime energy industry. EXMAR is listed on Euronext Brussels (EXM) and is part of the BEL Small Index.

 

  Forward-looking information  

 

Certain statements and other information included in this news release constitute "forward-looking information" or "forward-looking statements" (collectively, "forward-looking statements"). Although Nutrien believes that the expectations and assumptions on which such forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because Nutrien can give no assurance that they will prove to be correct. Forward-looking statements are subject to various risks and uncertainties which could cause actual results and experience to differ materially from the anticipated results or expectations expressed in this news release. For additional information on the assumptions made, and the risks and uncertainties which could cause actual results to differ from the anticipated results, refer to the risk factors detailed from time to time in Nutrien reports filed with the Canadian securities regulatory authorities and the United States Securities and Exchange Commission.

 

The forward-looking statements in this news release are made as of the date hereof and Nutrien disclaims any intention or obligation to update or revise any forward-looking statements resulting from new information or future events, except as may be required under applicable securities laws.

 

  

  

  Nutrien Media Contact  
Kathy Baker | Manager, Communications, Retail & NPK | 403-225-7760

EXMAR Media Contact  
Jens Ismar | Executive Director Shipping | +32 3 247 56 57

 

News Provided by Business Wire via QuoteMedia

The Conversation (0)
Nutrien Ltd.

Nutrien Ltd.

Nutrien Ltd was created in 2018 as a result of the merger between PotashCorp and Agrium, Nutrien is the world's largest fertilizer producer by capacity. Nutrien produces the three main crop nutrients--nitrogen, potash, and phosphate--although its main focus is potash, where it is the global leader in installed capacity with roughly 20% share. The company is also the largest agricultural retailer in the United States, selling fertilizers, crop chemicals, seeds, and services directly to farm customers through both its physical stores and online platforms.

Nutrien Announces Ken Seitz and Jeff Tarsi as Speakers at the BofA Investor Conference

 

 Nutrien Ltd. (TSX and NYSE: NTR) announced today that Mr. Ken Seitz, Nutrien's President and Chief Executive Officer, and Mr. Jeff Tarsi, Nutrien's Executive Vice President and President, Global Retail, will be speaking at the 2025 BofA Global Agriculture and Materials Conference on Wednesday, February 26 at 10:30am EST.

 

The fireside chat will be video cast and available on the Company's website at https://www.nutrien.com/investors/events  

News Provided by Business Wire via QuoteMedia

Keep reading...Show less
Combine harvester harvests ripe wheat.

Top 10 Phosphate Countries by Production

Phosphate is mainly used in the form of fertilizer for crops and animal feed supplements. Only 5 percent of world phosphate production is used for other applications, such as corrosion prevention and detergents.

Demand for phosphate fertilizers had created a US$54.6 billion market by 2023, and that figure is expected to grow at a compound annual growth rate of 5.3 percent through 2030 to reach US$78.4 billion.

"One of the primary factors influencing the worldwide market for phosphate fertilizers is the increasing focus on sustainable agriculture," according to Persistence Market Research. "Phosphate fertilizers, which are widely recognized for their ability to augment soil fertility and enhance crop productivity, are crucial for the pursuit of sustainability objectives in the agricultural industry."

Keep reading...Show less
Tractor on farm field.

9 Phosphate Stocks to Watch

Demand for both phosphate and potash fertilizers is anticipated to continue growing as the world’s population increases and the amount of arable land decreases.

The phosphate market is expected to witness a compound annual growth rate of 5.3 percent between 2023 and 2030 to reach US$78.4 billion. Driving this growth will be increasing pressure on global food supply brought on by rising populations and climate change, as well as inflation and downstream costs. Phosphate is also increasingly becoming a sought-after battery material for the electric vehicle industry due to its use in lithium-iron-phosphate (LFP) batteries.

Thankfully, phosphate-mining production around the globe is expected to increase, with the largest areas of growth being Africa and the Middle East. Phosphate mining companies with project developments in Brazil, Kazakhstan, Mexico, Peru and Russia are all expected to contribute to increased phosphate rock production as well.

Keep reading...Show less
Hands holding coins with a sprout growing out of them.

How to Invest in Phosphate (Updated 2024)

Discovering ways to invest in phosphate begins with understanding its primary uses.

Notably, about 90 percent of phosphate is consumed by the agriculture sector. Because of its essential properties, and since there is no known substitute for it, phosphate can be found in fertilizer products all over the world as a way to aid plant growth. It is also used as a supplement in animal feed, as a food preservative and for several other chemical purposes.

As the world's population grows and demand for food increases, the need for phosphate fertilizer is only expected to increase. For that reason, some believe phosphate investing is compelling. Read on for a brief overview of the phosphate market, including supply and demand dynamics and investing options.

Keep reading...Show less
farm crops in a field

5 Top Weekly TSXV Stocks: Arianne Phosphate Grows with Nearly 80 Percent Gain

The S&P/TSX Venture Composite Index (INDEXTSI:JX) dropped 1.1 points this past week to close at 551.23.

The Bank of Canada held steady, announcing on Wednesday (January 24) that it will be maintaining a 5 percent target for its key overnight rate. It based its decision on year-end inflation figures that peg inflation at 3.4 percent for December.

The central bank expects inflation to remain in the 3 percent range for the first six months of 2024, before easing toward its 2 percent target in 2025. Meanwhile, the Bank of Canada projects that the country's gross domestic product (GDP) will remain relatively flat in 2024; it is projecting a 0.8 percent increase for the year, with a 2.4 percent increase in 2025.

Keep reading...Show less
vegetable plantation

Understanding Raw Rock Phosphate: What Investors Need to Know

Phosphate is an essential component in global food production, with nearly 90 percent of all production going to the agriculture sector.

In addition to being a core ingredient in much of the world's fertilizer, the mineral is also used as a food preservative, to supplement animal feed and in products such as lithium iron phosphate batteries.

As the world's population continues to grow, demand for phosphate will only increase. While this trend can make phosphate a very attractive investment, it is not something one should dive into without research.

Keep reading...Show less

Latest Press Releases

Related News

Ă—