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Flowserve (FLS), Clariter Partner to Reduce Plastic Waste
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Flowserve Corporation (FLS - Free Report) recently entered into a strategic partnership with global cleantech company Clariter to advance the production of the latter’s prime-quality green petrochemicals manufactured from plastic waste. The move aims to bring an end to plastic waste.
Complementing other traditional recycling techniques, Clariter’s chemical upcycling technology’s distinctive process recycles most of the plastic waste streams into crude oil-free products for industrial and everyday consumer use. These sustainably produced products like oils, waxes and solvents are of food-contact grade, meet the highest industry standards of purity and are on par with or exceed the benchmarks of its fossil-based equivalents.
Per the long-term deal, Flowserve will offer its flow-control expertise, optimum equipment sizing, and commissioning support to augment Clariter’s commercial production facilities. FLS will also act as the single-source supplier of all pumps, seals, valves and RedRaven products for Clariter’s initial four commercial-scale chemical recycling plants.
Once the construction of the plants is completed, Flowserve will continue to provide parts and aftermarket services to Clariter. Flowserve and Clariter will also develop new, sustainable formulations for the lubrication of pumps and valves from recycled plastic waste. This partnership is in line with Flowserve’s Diversification, Decarbonization and Digitization (3D) strategy.
Flowserve has been benefiting from strength across its oil & gas, chemical, power, general Industries and water end markets. The company focuses on acquiring businesses/assets to expand its product offerings. In February 2023, it inked a deal to acquire Velan Inc. in an all-cash transaction valued at approximately $245 million. The deal is expected to be completed by the end of the second quarter of 2023.
The buyout will strengthen Flowserve’s valves portfolio and build upon its existing assets through the addition of Velan’s premier brands, strong heritage and technical expertise in diverse end markets. Velan will become part of Flowserve’s Flow Control Division segment.
Within the broader Industrial Products sector, Donaldson Company, Inc. (DCI - Free Report) and The Middleby Corporation (MIDD - Free Report) aim at expanding market presence through inorganic activities.
In February 2023, Donaldson acquired Durham, NC-based early-stage biotechnology company Isolere Bio, which. produces novel and proprietary IsoTag reagents and accompanying filtration processes. These products are used for the purification and streamlined manufacturing of biopharmaceuticals.
The Isolere buyout will enable Donaldson to create leading separation and filtration solutions for emerging genetic-based drugs. DCI’s filtration excellence, together with Isolere’s affinity-phase separation technology, will bring end-to-end solutions to the life sciences industry. When commercialized, Isolere’s revenues will be reported within the Donaldson Life Sciences segment.
In December 2022, Middleby acquired Marco Beverage Systems, a designer and manufacturer of innovative and energy-efficient beverage dispensing solutions. Located in Dublin, Ireland, Marco Beverage generates annual revenues of $30 million. Apart from Dublin, the company has a facility in Ningbo, China.
The acquisition complements Middleby’s existing beverage portfolio, expanding the company’s cold brew dispense, coffee brewers, and a variety of hot, cold and sparkling water dispenser offerings. The buyout also allows MIDD to leverage Macro Beverage’s touchless and in-counter dispense technology solutions, which are in demand due to its space-saving and handy features.
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Flowserve (FLS), Clariter Partner to Reduce Plastic Waste
Flowserve Corporation (FLS - Free Report) recently entered into a strategic partnership with global cleantech company Clariter to advance the production of the latter’s prime-quality green petrochemicals manufactured from plastic waste. The move aims to bring an end to plastic waste.
Complementing other traditional recycling techniques, Clariter’s chemical upcycling technology’s distinctive process recycles most of the plastic waste streams into crude oil-free products for industrial and everyday consumer use. These sustainably produced products like oils, waxes and solvents are of food-contact grade, meet the highest industry standards of purity and are on par with or exceed the benchmarks of its fossil-based equivalents.
Per the long-term deal, Flowserve will offer its flow-control expertise, optimum equipment sizing, and commissioning support to augment Clariter’s commercial production facilities. FLS will also act as the single-source supplier of all pumps, seals, valves and RedRaven products for Clariter’s initial four commercial-scale chemical recycling plants.
Once the construction of the plants is completed, Flowserve will continue to provide parts and aftermarket services to Clariter. Flowserve and Clariter will also develop new, sustainable formulations for the lubrication of pumps and valves from recycled plastic waste. This partnership is in line with Flowserve’s Diversification, Decarbonization and Digitization (3D) strategy.
Flowserve has been benefiting from strength across its oil & gas, chemical, power, general Industries and water end markets. The company focuses on acquiring businesses/assets to expand its product offerings. In February 2023, it inked a deal to acquire Velan Inc. in an all-cash transaction valued at approximately $245 million. The deal is expected to be completed by the end of the second quarter of 2023.
The buyout will strengthen Flowserve’s valves portfolio and build upon its existing assets through the addition of Velan’s premier brands, strong heritage and technical expertise in diverse end markets. Velan will become part of Flowserve’s Flow Control Division segment.
Within the broader Industrial Products sector, Donaldson Company, Inc. (DCI - Free Report) and The Middleby Corporation (MIDD - Free Report) aim at expanding market presence through inorganic activities.
In February 2023, Donaldson acquired Durham, NC-based early-stage biotechnology company Isolere Bio, which. produces novel and proprietary IsoTag reagents and accompanying filtration processes. These products are used for the purification and streamlined manufacturing of biopharmaceuticals.
The Isolere buyout will enable Donaldson to create leading separation and filtration solutions for emerging genetic-based drugs. DCI’s filtration excellence, together with Isolere’s affinity-phase separation technology, will bring end-to-end solutions to the life sciences industry. When commercialized, Isolere’s revenues will be reported within the Donaldson Life Sciences segment.
In December 2022, Middleby acquired Marco Beverage Systems, a designer and manufacturer of innovative and energy-efficient beverage dispensing solutions. Located in Dublin, Ireland, Marco Beverage generates annual revenues of $30 million. Apart from Dublin, the company has a facility in Ningbo, China.
The acquisition complements Middleby’s existing beverage portfolio, expanding the company’s cold brew dispense, coffee brewers, and a variety of hot, cold and sparkling water dispenser offerings. The buyout also allows MIDD to leverage Macro Beverage’s touchless and in-counter dispense technology solutions, which are in demand due to its space-saving and handy features.