Yara to buy environment technology firm Petro Miljö
Global fertilizer major Yara International has agreed to acquire Sweden-based Petro Miljö AB, a fully-owned subsidiary of Petrokraft, for an undisclosed amount.
Petro Miljö is a leader in selective non-catalytic reduction (SNCR), a technology that can reduce nitrogen oxide (NOx) emissions, from industrial plants by up to 90%.
NOx, a major pollutant which can lead to smog, and aggravate asthma according to the World Health Organization, can be converted into harmless nitrogen and water via SNCR technology that runs on non-toxic urea-based reagents, which are supplied by chemical companies like Yara.
Petro Miljö AB will be absorbed as a wholly-owned subsidiary of Yara International. Further, all of Petro Miljö’s employees and assets will be transferred to Yara International by the end of the year, according to the companies.
The acquisition will allow Yara to bolster the NOx abatement reagent, handling and storage solutions it provides improving the synergy between the SNCR systems it installs and the reagents it produces.
Yara and Petro Miljö first began collaborating in 2007, combining Yara’s knowledge of nitrogen chemicals with Petro Miljö’s expertise of combustion processes.
As a result of the deal, Yara says it will be able to offer one of the most comprehensive and effective NOx emission reduction solutions to utilities, refineries, manufacturing centers, and other industrial facilities as the company’s NoxCare capabilities will now include everything from building SNCR systems and storage facilities to supplying the right reagent to advising on chemical storage and handling.
“Yara aims to provide the best clean air solutions for industrial segments so we’re thrilled to have Petro Miljö joining the Yara corporate family,” said Yves Bonte, senior vice president and head of industrial for Yara International.
“By integrating Petro Miljö’s technical expertise with Yara’s know-how, we will be better positioned to serve an increasing number of industrial facilities that are exploring how to reduce their nitrogen oxide emissions in an optimal way,” Bonte said.
“Petro Miljö has been and continues to be driven by the increasing demand for emissions reductions,” said Roger Karlsson, president of Petrokraft AB.
“Our company has been successful helping European industrial plants, which were some of the first to face strict NOx abatement legislations, mitigate their emissions; as similar environmental regulations get implemented around the world, combining our resources with Yara’s and the company’s global footprint was a logical decision to help Petro Miljö continue to grow,” he added.
To date, Petro Miljö has equipped more than 180 combustion lines around the world with its SNCR technology.
As environmental regulations on NOx emissions standards are becoming increasingly strict in more countries and sectors across the globe, the deal will help Yara further the company’s existing commitment to provide its industrial customers with the most comprehensive and tailored technological solution available for NOx abatement, the company says.
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