Business Wire

Transition Industries LLC and Macquarie Group Announce Marketing Agreement for Low Carbon Methanol Project in Sinaloa, Mexico

Share

Transition Industries LLC announced at COP 28 that it has entered into a Master Services and Marketing Agreement (MSMA) with Macquarie Commodities Trading, an affiliate of Macquarie Group’s Commodities and Global Markets business (“Macquarie” / “CGM”), for its Pacifico Mexinol project, a 6,145 MT per day methanol production facility near Topolobampo, Sinaloa, Mexico (“Pacifico Mexinol” or the “Project”).

When it commences operations, Pacifico Mexinol is expected to be one of the largest single low carbon chemicals facilities in the world - producing approximately 300,000 MT of green methanol from captured carbon and green hydrogen and 1.8 million MT of blue methanol per year from natural gas with carbon capture.

Under the terms of the MSMA, Macquarie is responsible for marketing all the production from Pacifico Mexinol to customers on a global basis in accordance with methanol offtake agreements, the provisioning of financial hedging services as required by the Project, and supporting the Project in commodity planning and contracting for all required feedstock. The MSMA has a term of 15 years from the Commercial Operations Date of the Project.

Rommel Gallo, the Chief Executive Officer of Transition Industries, commented: “We are pleased to announce our MSMA with Macquarie, which provides us with unique access to customers on a global basis across multiple industries. Macquarie’s leading commodities platform provides us substantial flexibility to optimally place our blue and green methanol with the right customers that can benefit from our product’s low carbon qualities. Macquarie’s broader capabilities across financial services, logistics, and risk management enable us to optimize the Project’s performance across the value chain.”

“Macquarie’s CGM business offers capital, financing, risk management, market access and physical execution and logistics capabilities to our global clients,” said Aarnoud van Weelderen, Senior Managing Director in Macquarie’s CGM business. “We are pleased to have entered into an agreement with Transition Industries to provide a comprehensive solution for their proposed Pacifico Mexinol facility. Macquarie will identify, purchase and deliver low carbon methanol to customers in the chemicals, manufacturing and maritime industries globally, many of whom are focusing on low-carbon feedstocks.”

Ramiro Castro, Managing Director, head of Macquarie Group’s Commodities and Global Markets business in Mexico, commented: “Macquarie is proud to be playing a key role in a project that will contribute to decarbonization while bringing value and opportunity to communities in Latin America. We are very excited to work with Transition Industries in its quest to expand access to methanol globally. This project is representative of how Macquarie continues to grow and scale our services platform in Latin America.”

The International Finance Corporation (“IFC”), a member of the World Bank Group, is participating in the co-development of this global-scale low carbon methanol plant. IFC would act as project co-developer with Transition Industries LLC, and as the co-lead mandated arranger alongside Kreditanstalt fur Wiederaufbau IPEX (“KfW IPEX”). The MSMA and financing for Pacifico Mexinol were announced at a formal signing ceremony for the Joint Project Development Agreement in Dubai, UAE, alongside the COP28 conference.

Pacifico Mexinol is expected to reach Final Investment Decision in 2024 and Commercial Operations Date in late 2027.

About Transition Industries

Transition Industries LLC, based in Houston, Texas, is a developer of world-scale net-zero carbon emissions methanol and hydrogen projects in North America to address climate change and promote environmental and social sustainability.

For additional information about Pacifico Mexinol or Transition Industries, please contact us at inquiries@transitionind.com.

About Macquarie Group

Founded in 1969, Macquarie employs over 21,000 people in 34 markets. Commodities and Global Markets (CGM), an operating group of Macquarie, has more than 40 years of partnering with our clients to provide capital and financing, risk management, market access, and physical execution and logistics solutions across commodities, financial markets and asset finance sectors.

For further information, visit our website.

To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.

Contact information

inquiries@transitionind.com

About Business Wire

Business Wire
Business Wire
24 Martin Lane
EC4R 0DR London

+44 20 7626 1982http://www.businesswire.com

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

Bynder Kicks Off Peak Shopping Season by Serving a Record 6 Billion Assets - Powering Exceptional Global Content Experiences Online9.12.2024 16:07:00 CET | Press Release

Bynder, a global leader in AI-powered enterprise DAM, has helped a number of global brands break Black Friday and Cyber Monday records by delivering exceptional content experiences at scale across a number of worldwide e-commerce channels. During the seven day period (November 27 - Dec 2 2024) which included Black Friday, Small Business Saturday, and Cyber Monday, Bynder’s Content Experiences (CX) for Omnichannel solution was responsible for serving more than 6 billion assets to over 70,000 websites, with more than 4.5 billion asset transformations undertaken. The figures represent a 15% increase in assets delivered vs 2023, plus 67% more assets were delivered through CX for Omnichannel on Black Friday than an average day in 2024. Customers such as Sur La Table, Bose, Raymour & Flanigan and Puma used CX for Omnichannel to deliver targeted and optimized content at scale to their digital channels over the busiest shopping days. Bynder customers were able to utilize the assets stored in t

NIQ, World Data Lab, and SPATE launch "Beauty Futures" Report - A guide to generational journeys of global beauty buyers9.12.2024 15:00:00 CET | Press Release

NielsenIQ (NIQ) collaborated with World Data Lab and SPATE to release a comprehensive generational report purely focused on the beauty market in the next decade. The report reveals key insights into generational preferences, spending habits, values, priorities, motivators, shopping behaviors, and their influence on global beauty trends. It highlights the crucial role each generation will play in shaping consumer preferences and spending over the next decade. Millennials will be at the helm of this trend by driving nearly half of global beauty spend at US$ 193 Billion with Gen Z coming a close second at US$ 158 Billion. The global beauty industry is seeing unprecedented growth at US$ 1.1 Trillion, with a projected growth of US$ 700 Billion by 2034, of which Asia will be contributing US$ 310 Billion. Commenting on the findings, Claire Marty, Vice President, NIQ Beauty, said“At NIQ, we recognize that understanding generational differences is key to navigating the evolving beauty industry.

SLB adds AI-driven geosteering to its autonomous drilling solutions to achieve more efficient and productive wells9.12.2024 14:29:00 CET | Press Release

Global energy technology company SLB (NYSE: SLB) introduces Neuro™ autonomous geosteering, which dynamically responds to subsurface complexities to drill more efficient, higher-performing wells, while reducing the carbon footprint of the drilling operations. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241127402342/en/ Using AI, Neuro geosteering integrates and interprets complex real-time subsurface information to autonomously guide the drill bit through the most productive layer or “sweet spot” of the reservoir. (Photo: Business Wire) Using artificial intelligence (AI), Neuro geosteering integrates and interprets complex real-time subsurface information to autonomously guide the drill bit through the most productive layer or “sweet spot” of the reservoir. During conventional geosteering operations, geologists must manually interpret this data to identify a well target, update the well plan and trajectory, and communicate

DeepGreenX Group and Hues Capital Launch $10 Billion USD Fund to Accelerate AI, Green Energy, and Computing Power9.12.2024 13:00:00 CET | Press Release

DeepGreenX Group Inc. (“DeepGreenX,” “DXG,” or the “Company”), an AI-enabled green energy and technology company, and Hues Capital (“Hues”), a leading capital provider enabling financial technology ecosystems, AI, and green energy enterprises, jointly announced the formation of a new $10 billion USD fund (the “Fund”) to drive global advancements in AI, green energy, and computing power and accelerate sustainability initiatives worldwide. DeepGreenX and Hues will each hold a 50% stake and act as co-general partners in the $10 billion USD DXG-Hues parent fund, which will be based in the EU and comprise two $5 billion USD sub-funds: the DXG-Hues AI Computing Infrastructure Fund and the DXG-Hues AI Energy Fund. The former will focus on global investments in AI computing power and green energy infrastructure projects, while the latter will target emerging enterprises in the fields of AI ecosystems, fintech, and green energy. This initiative will bring together seasoned professionals with de

Kinaxis Offers a Solution to Streamline Bel’s Supply Chain9.12.2024 13:00:00 CET | Press Release

Bel Group, a major player in food through dairy, fruit and plant-based healthier eating portions, with iconic international brands such as The Laughing Cow®, Kiri®, Babybel®, Boursin®, Nurishh®, or GoGo squeeZ®, has partnered with Kinaxis® Inc. (TSX: KXS), a global leader in end-to-end supply chain orchestration, and its solution extension partner 4flow, to transform its supply chain operations from demand to distribution. As part of its strategic growth and sustainability initiatives, Bel Group sought innovative solutions to boost operational performance, enhance collaboration and strengthen sustainability. Renowned for iconic brands like Boursin®, Babybel®, The Laughing Cow®, GoGo squeeZ®, the Group needed a robust, agile supply chain capable of withstanding any disruption as it continues to grow and diversify its product offerings. “Our foremost priority is delighting our customers with fresh, premium-quality products, delivered with precision and care,” said Xavier François, chief

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom
World GlobeA line styled icon from Orion Icon Library.HiddenA line styled icon from Orion Icon Library.Eye