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Agreement signed for petrochem product offtake

18th March 2022


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Sustainable chemicals manufacturer Bolder Industries announced in January a landmark 20-year strategic marketing agreement with independent petroleum marketer Tauber Oil for exclusive offtake of BolderOil, Bolder’s sustainably derived petrochemicals product.

United in both companies' ongoing desire to build relationships that accelerate the growth of sustainable materials, this partnership provides Tauber Oil with the largest allocation and supply of tyre-derived, sustainable oil known in the industry, by way of a proven industry pioneer.

Tauber Oil will be the exclusive purchaser of BolderOil for 20 years, acquiring about two-million barrels a year as supply becomes available from Bolder's aggressive capacity build-out plans.

Tauber will also manage all administrative and sales services including logistics, consulting, billing, and fulfilment between Bolder Industries and its global customers. In turn, Tauber will consult with Bolder on the design and engineering of any storage offtake and infrastructure at its current facility and future planned facilities.

Bolder Industries has a longstanding history of success and market acceptance with BolderOil and currently produces three grades: BolderOil Heavy, BolderOil Light, and BolderOil Base. BolderOil has applications in renewable fuels, as a replacement oil in ASTM grade carbon blacks, oil and gas well clean-up, and chemical solvents.

As a sustainably derived product, BolderOil increases environmental savings for end customers and, because it is decoupled from oil indices, can also improve pricing stability.

This partnership allows Tauber Oil to better serve its largest global customers by ensuring their ability to meet all regulatory guidelines while providing access to renewable petrochemicals on a consistent basis.

Both parties recognise this is an ideal time to solidify a long-term partnership driven by heightened demand of renewable and sustainable petrochemicals and considering that Bolder Industries has existing contracts for nearly half of its estimated BolderOil production through 2027.

“For years, we've closely monitored the race to turn tyres to high-quality petrochemicals but, until we met the Bolder Industries team, we had yet to see it accomplished successfully at commercial scale. “After visiting their facility, it was immediately apparent they were doing something special,” comments Tauber Oil president Jonathan Tauber.

“Now, through arduous due diligence, we are confident and eager to provide sustainably derived petrochemicals at the level of quality, consistency and specifications our customers demand. We expect this partnership will give way to expansion and deliver meaningful environmental impact that our customers and the world needs.”

“Strategic investments and alliances such as this signal the next phase for our hyper-growth company,” says Bolder Industries CEO Tony Wibbeler.

“This relationship enables us to grow our petrochemical business exponentially with a well-known and highly respected partner that we are very pleased to be working with day-to-day.”

Tauber was part of the 2021 $80-million investment in Bolder Industries, which assisted in the expansion of its current facility in Maryville, Missouri, and acquisition of a Terre Haute, Indiana, facility and newly announced European expansion in the Port of Antwerp.

Additional facilities, both domestically and overseas, are planned in 2023 and beyond to meet rising demand from automotive, plastics, rubber and sustainable petrochemicals manufacturers looking to meet their environmental, social and corporate governance goals.

In Bolder's recovery process, 98% of each tyre is repurposed, reducing greenhouse-gas emissions, water, and power usage by 85% compared to traditional manufacturing processes.

“To be able to take something as notoriously synonymous with pollution as an old tyre and repurpose it into literally hundreds of different useful products is an incredible achievement by Bolder Industries,” says Tauber Oil chairperson David Tauber.

“We at Tauber Oil are delighted to have a hand in bringing to market products from our industry that not only reduce production emissions and natural resource use but keep millions of tyres out of landfills every year,” he concludes.

Edited by Zandile Mavuso
Creamer Media Senior Deputy Editor: Features




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