ff template

More than $50 billion per year will be spent on the systems, parts, consumables and services by power companies to build and maintain flue gas desulfurization (FGD) systems. If these systems are not meeting SO₂ emission limits the power plant must cease operations. All the elements of severe service are present: corrosion, temperature, and abrasion. As a result power companies are focused on buying products with the lowest true cost. This translates into billions of dollars of potential profits for suppliers.

These profits are achievable by identifying the potential for each customer, providing evidence of the lowest true cost and then

A cost-effective program is available. FGD Most Profitable Market Program costs less than $10,000 per year. It includes customized forecasts for each country and each purchaser for any one of the following.

This service allows the purchasers to conclude which products have the lowest true cost Here is a link to one of the recent webinars https://youtu.be/1GSbwSiTZrE

The McIlvaine Company is working with associations, media and suppliers to create true cost analyses of combust, flow and treat products and services. One such initiative is the “True Cost of Gas Turbine Inlet Filters.”

The true cost of a gas turbine inlet filter can be affected by a large number of factors. These factors are not constants but are changing. The filter purchaser is challenged to not only identify these factors but to keep up with the changes.

Large gas turbines are used to generate electricity by utilities. Smaller gas turbines drive pumps and compressors in locations with extreme conditions such as desert dust, artic snow or sea spray on an oil rig. As turbines have become more efficient, they have become more susceptible to damage from contaminants in the combustion air. This ambient air from the surrounding environment can contain high dust loads. In California with very tight emission standards the particulate in the inlet air to the turbine can exceed emission limits. Thus the gas turbine has to act as an air cleaning device.

The challenge for gas turbine inlet fiber, media, and filter suppliers is to increase gas turbine availability in all environments with newer and more sensitive gas turbines. The newer turbine designs are negatively impacted by small particles. This has led to the use of HEPA filters with efficiencies classed as H10/E10 and higher. Studies show that turbine maintenance can be reduced with even higher efficiency E12-U17. One study showed that even if the cost of higher efficiency filtration were four times higher than lower efficiency filters, the true cost would be lower.

One can choose a system with non-cleanable filters. They are relatively inexpensive but require continuous filter replacement. By using a sequence of inefficient but inexpensive pre filters and a final high efficiency filter, the replacement cost can be minimized.

An alternative is to use a cleanable filter. Periodic air pulsing knocks off accumulated dust. These systems are available from many suppliers if the F-9 efficiency is all that is desired. Cleanable filters with H12 efficiency are available from only a few suppliers. On the other hand there are many new developments which will expand the number of choices.

In terms of high efficiency dust capture mechanisms there is a choice between wet laid glass and synthetic nanofiber non-woven laminates or membranes. The traditional glass media for HEPA filtration has been used primarily in non-cleanable filters.

Quantifying the benefit is a balance between reduced fouling and increased pressure drop. The increased pressure drop can be estimated to restrict performance by approximately 0.4 percent, while cutting fouling provides a 1.2 percent improvement in output (empirical average). Therefore, the overall result is a potential efficiency improvement of 0.8 percent.

Alliance Pipeline believes that the E12 filters from Gore may allow Alliance to extend the interval between overhauls of its aero engines from 25,000 to as many as 50,000 hours (from three to six years).

In the past the most efficient filters which were used on gas turbine inlets were rated F-9 with efficiency of more than 95 percent on particles 0.4 um diameter. The most penetrating particle size is about 0.2 um where the efficiency is much lower. Higher efficiency filters are rated based on the most penetrating particle size as follows.

Membrane laminates such as used for dust collection can meet efficiencies up to E12. The question is whether this is sufficient?

There are a number of new filter and media designs which need to be evaluated. Mann & Hummel Vokes introduced the Aircube Pro Power S which utilizes a new synthetic base media with much higher resistance to mechanical stress than glass fiber media and a stable high efficiency during operation. It is water and salt repellent while being extremely robust.

DHA filter has introduced a cleanable HEPA filter for gas turbine inlets which it will be displaying at PowerGen.

The Guide to True Cost of Gas Turbine Inlet Filters will be used to facilitate discussions at a number of events in the coming months. It will be used along with a tour guide on the subject at the PowerGen exhibition in November.

It will also be the subject of a discussion at FiltXPO which will be held in Chicago in February.

To participate in the True Cost of Gas Turbine Intake Filters contact Bob Mcilvaine at rmcilvaine@mcilvainecompany.com; direct 847-784-0013; cell 847-226-2391.

Dry scrubbing is being used in the power, cement, waste-to-energy, steel, nonferrous and other industries where acid gases are emitted. There are a number of materials, fibers, media configurations and element designs which are utilized.

The collection media in the fabric filter has a major impact on cost. The optimum gas velocity can vary depending on the media selected. If the velocity can be doubled then the size of the unit can be halved. Instead of 4000 bags for a big installation maybe only 2000 would be needed.

On the other hand, the cost of ownership is significantly affected by the bag life. If bags last one year rather than 4 or 5 years, then bag costs become a significant part of the total expense. The energy cost is also a factor. Energy consumption increases in direct proportion to velocity. It also increases in direct proportion to the thickness of the dust cake on the filter media.

In the case where only particulate is to be captured it is best to establish a semi-permanent cake on the bags and then pulse off the new cake. In accounting terms this is LIFO (last in first out). However, for dry scrubbing it is best to remove the reacted gypsum and retain the fresh lime (FIFO). The industry has not formally addressed FIFO versus LIFO and needs to do so.

The need to maximize acid gas capture and the resultant substantial increase in particulate loading affects the choice of fibers and filter media. The type of cleaning (reverse air or pulsing with compressed air) also determines the selection of the lowest true cost medium.

The fuel or product being calcined or treated also impacts the medium. If a high sulfur fuel is burned, the costs of dry scrubbing are comparatively higher than if a low sulfur fuel is burned. Various fibers react differently to various combinations of acid gases, temperature and humidity. One fiber may handle SO₂ and HF in relatively humid conditions at 300°F whereas another cannot.

Temperature resistance is important for several reasons. One is that a fiber which can withstand the temperature excursions will have a longer life than one which is dependent on more perfect operation of the system. Another consideration is the potential to recover heat.

An alternative to glass and polymeric resins is a ceramic fiber matrix. Elements can contain embedded catalysts. Dry sorbent injection ahead of the ceramic media can be utilized to provide removal of dust and acid gases while reducing NO_x. The resultant clean hot gas at 600 F or higher can then be directed to an efficient heat exchanger and most of the potential energy recovered.

The material, fiber design, media construction and filter element shape all have to be designed to address the unique requirements of the application and the technology being employed.

Type of Fiber

Glass

Polymers

Construction

Woven generally but also some non-woven

Non-woven

· Laminates

· Laminate with Membrane

Performance varies both in terms of temperature, abrasion and chemical resistance.

There are differences in laminates with multiple non-woven layers being employed with varying support materials and designs. Fiber shape is also a variable.

But there are also site-specific considerations such as cost of electricity, reagents, pollution limits, plant life, existing equipment. So, these can present another 100 variables resulting in 150,000 factors.

There are mountains of information available on all the different variables. Determining which information will help select the lowest total cost of ownership product is a daunting task. The answer is “shared responsibility and collaboration.” Organizations focused on components such as filter media or reagents can contribute but only if there is a clear path on how to do so. The Dry Scrubber Users Group which is focused on the subject in the broadest terms can be the catalyst to help bring other organizations into what can be titled a True Cost program. The program can provide access to the needed evidence for validation of lowest total cost of ownership. Conferences and exhibitions such as Power-Gen can provide a forum for actual validation of supplier claims.

Hot Metal Desulfurization and Dedusting System from Primetals Technologies Successfully Commissioned at ArcelorMittal Monlevade

Recently, at the production site of Brazilian steel producer ArcelorMittal Monlevade a 130-ton-hot-metal desulfurization station (DeS) and a new dedusting system supplied by Primetals Technologies commenced operation. The desulfurization station represents the first installation of Primetals Technologies combining a volumetric dosing device for Magnesium (Mg) and a pressure dispenser for Calcium Oxide (CaO). Low sulfur levels of lesser than 0.005 percent (50 ppm) can be achieved. The consumption of desulfurization agents is significant reduced and processing times are reduced to less than 30 minutes compared to treatment in a torpedo car. The associated level 2 system supplied by Primetals Technologies predicts the end sulfur content with high accuracy, deviations of real from predicted value is below 5ppm on average. The dedusting system installed in the melt shop processes approximately 900,000 m³/h. A handling system for 130-t-hot-metals ladles was also part of the project. The new equipment is part of an expansion and quality improvement program at ArcelorMittal Monlevade.

For the desulfurization station, Primetals Technologies was responsible for the engineering, supply and advisory services for reaction and start-up. Equipment encompassed a volumetric dosing device for dosing of Mg, a pressure dispenser for dosing CaO, lance and injection systems, the material handling system, including an unloading station, silos for storage, and material transport. An important part of the project is the complete level 1 and level 2 automation system with process models, enabling precise process control and dosing as well as reliable prediction of end sulfur content. This allows for flexible and optimum injection ratios of CaO/Mg from 2:1 to 10:1. The co-injection takes places with fully decoupled control of the conveying of Mg and CaO. The DeS station is designed to operate with fluidized CaO or CaC₂ (Calcium Carbide) as well. Pure Mono-injection of CaO or CaC₂ is possible, too.

The new desulfurization station from Primetals Technologies replaced an existing desulfurization preformed in torpedo cars, reducing both the consumption of desulfurization agents and processing times. In addition, the effort for cleaning of torpedo cars is also lowered, deslagging simplified and metal losses during deslagging reduced.

New dedusting system covers two BOF converters, the DeS and slag skimming stand as well as the HM mixer. Primetals Technologies engineered, supplied and installed charging coolers for BOF charging evacuation, pulse jet filters with eight chambers and a filter area of 11,270 m², and two induced draft (ID) fans with a power rating of 1,500 kW each. The filtered dust is discharged to containers. A handling system for the 130-t-hot metal ladles completed the scope of supply, including ladles, a transfer car with integrated ladle tilting device and a deslagging machine.

ArcelorMittal Monlevade is an integrated steel works located in João Monlevade, 120 km from Belo Horizonte, the state capital of Minas Gerais. It operates the following upstream facilities: one sinter plant, one blast furnace, two 130-t-BOF converters, one ladle furnace and one billet caster. The billet caster produces billets with a cross section of 155x155 mm. Production capacity is 1.1 to 1.3 million t/a. The billets are further processed in three rolling lines, producing wire rod in a diameter range of 5 to 40 mm for high-quality application as tyre cord and spring steel. ArcelorMittal Monlevade is the most important producer of tyre cord in the Americas.

Babcock & Wilcox Segment Adjusted EBITDA Increased 23 Percent to $19.3 Million

Babcock & Wilcox Enterprises, Inc. announced 3^rd quarter 2019 GAAP loss from continuing operations improved by $47.2 million to a loss of $57.0 million compared to a loss of $104.1 million in 3^rd quarter 2018. Adjusted EBITDA also improved by $36.8 million to a positive $10.1 million compared to negative $26.7 million in the prior year period, resulting in the company's 2nd consecutive quarter of profitability in 2019 on an adjusted EBITDA basis.

"Our performance in the 3^rd quarter of 2019 builds on last quarter's improvements following our improved operational performance and cost-saving efforts. Our consolidated business continued to show increasing operating margins and for the second consecutive quarter the company was profitable on an adjusted EBITDA basis. Our Babcock & Wilcox segment continued its solid performance and across the company we are showing steady progress on our strategy to improve profitability by focusing on our core strengths and reducing unnecessary G&A," said Kenneth Young, B&W Enterprises Chief Executive Officer. "With our equitization transactions completed in July, we are working to re-finance our existing credit facility to support our growth. As 2019 draws to a close, we are demonstrating the underlying core value of our businesses to our customers and shareholders and laying the foundation to leverage new opportunities on a worldwide basis."

"We're continuing to implement our cost-savings initiatives, for $119 million in annualized savings," said Lou Salamone, B&W Enterprises Chief Financial Officer. "Approximately $106 million of these initiatives have now been implemented and we are aggressively looking for further ways to streamline our operations while maintaining our focus on our customers and quality. As we turn toward 2020, we expect to see improvement each quarter as our cost-savings measures continue to translate to bottom-line results. We are also seeing our new opportunity pipeline increase for our core technologies across the Babcock & Wilcox, Vølund and SPIG segments globally. We are committed to our strategy, founded on our world-class employees and technologies, and we are confident we are accelerating toward an improved 2020."

The company's focus on core technologies and profitability, as well as completion of the EPC loss contracts, were the primary drivers, as expected, of a decline in revenue compared to the 3^rd quarter of 2018. Consolidated revenues in 3^rd quarter 2019 were $198.6 million, down 33 percent compared to third quarter 2018. The sales of Palm Beach Resource Recovery Corp. ("PBRRC") in the 3^rd quarter of 2018 and Loibl, a materials handling business in Germany in the 2^nd quarter of 2019; and a lower level of activity on SPIG legacy loss contracts and lower volume of new build cooling system services in the SPIG segment following a change in strategy to improve profitability, also drove the decline in revenue. The GAAP operating loss in 3^rd quarter 2019 was $3.2 million, inclusive of restructuring and settlement costs and advisory fees of $7.0 million, compared to an operating loss of $45.1 million in 3^rd quarter 2018. The improvement in operating losses was primarily due to improved gross margins on construction projects in the Babcock & Wilcox segment, a lower level of losses on the six European EPC loss contracts and a change in strategy in the SPIG segment to improve profitability by focusing on more selective bidding in core geographies and products. Adjusted EBITDA improved to a positive $10.1 million compared to negative $26.7 million in 3^rd quarter 2018. All amounts referred to in this release are on a continuing operations basis, unless otherwise noted. Reconciliations of operating loss, the most directly comparable GAAP measure, to adjusted EBITDA, as well as to adjusted gross profit for the Company's segments, are provided in the exhibits to this release.

Babcock & Wilcox segment revenues decreased 15.3 percent to $161.8 million in the 3^rd quarter of 2019 compared to $191.1 million in the prior-year period, primarily attributable to lower volume related to the periodic nature of large construction new build projects. Adjusted EBITDA in 3^rd quarter 2019 increased 23 percent to $19.3 million, compared to $15.6 million in last year's quarter, primarily due to improved gross margins on construction projects, as well as cost savings associated with cost reduction initiatives, partially offset by the effects of lower volume and increases in overhead being absorbed by the segment previously absorbed by other segments; adjusted EBITDA margin was 11.9 percent compared to 8.2 percent in the same period last year. Adjusted gross profit in the Babcock & Wilcox segment in third quarter 2019 increased 19 percent to $41.0 million, compared to $34.3 million in the prior-year period, primarily related to improved gross margins on construction projects, which partially offset the gross profit effect of lower volume as described above. Gross profit margin was 25.3 percent, compared to 18.0 percent in the same period last year.

CECO Environmental Corp. reported its financial results for the third quarter of 2019.

· Bookings of $115.7 million, compared with $97.1 million, adjusted for divestitures

· Record Backlog of $237.8 million, compared with $182.1 million as of December 31, 2018

· Revenue of $85.3 million, compared with $88.3 million, and $86.7 million organic

· Gross profit of $28.8 million (33.8% margin), compared with $28.7 million (32.5% margin)

· Operating income of $4.1 million, compared with operating loss of $(10.4) million (included a $15.1 million non-cash impairment charge related to the sale of our Zhongli business)

· Net income per diluted share was $0.05, compared with net loss per diluted share of $(0.37)

CECO's Chief Executive Officer Dennis Sadlowski commented, "I am very pleased with our team's execution during the quarter which generated triple digit bookings, strong profitability and a record backlog for the company. Our investments are continuing to pay off as we realized sequential quarterly growth in all our key financial metrics. Our strong third quarter bookings, led by our Energy Segment, and our record backlog are the best predictors of the future, signaling improving revenue going forward.”

FLSmidth Reports Record High Service Order Intake But Unsatisfactory Profitability

FLSmidth’s order intake for the third quarter of 2019 amounted to DKK 4571 million — a decline of 36 percent compared to the third quarter last year. The performance is explained by a sharp decline in the capital order intake that was partly offset by a record high service order intake, combined with the exceptionally strong comparative quarter in 2018 which included two large cement plant orders worth a total of about DKK 1.9 billion.

The order backlog decreased to DKK 16,088m from DKK 16,762 million at the end of 2^nd quarter 2019.

FLSmidth Group CEO, Thomas Schulz, commented: “Global economic headwinds combined with challenges regarding license to operate have led to a more cautious outlook for mining capital investments. The social license to operate is becoming an increasingly important issue and is now considered a top risk for mining companies. This has caused some projects to be postponed. On the other hand, we are seeing growing interest in our sustainable technologies and tailings management, which can help mining companies maximize safety and attain a license to operate. Sustainability is also gaining traction in the cement industry, and customers looking to reduce their environmental footprint and enhance productivity are increasingly taking an interest in our pyro upgrades, including our Low-NOx calciner technology and our HOTDISC® systems."

Lydall, Inc. announced financial results for the 3^rd quarter ended September 30, 2019.

Net sales increased by $7.4 million, or 3.7 percent, to $205.3 million, compared to $197.9 million in the third quarter of 2018 primarily from the acquisition of Interface Performance Materials ("Interface"), which increased Performance Materials ("PM") segment net sales by $18.6 million. Organically, PM segment sales declined by 3.9 percent from lower sealing product sales. The Technical Nonwovens ("TNW") segment reported organic sales compression of 6.8 percent primarily from weak demand for industrial filtration products in China which is being impacted by on-going trade uncertainties. Organic sales growth was 4.2 percent in the Thermal Acoustical Solutions ("TAS") segment primarily from increased parts sales in Europe and North America.

Gross margin was 17.7 percent, a decline of 10 basis points from the 3^rd quarter of 2018, but on an adjusted basis, declined 90 basis points. Improved TNW segment adjusted gross margin, was offset by the TAS and PM segments. The TAS segment gross margin was lower due to increased labor, outsourcing and logistics costs at the company's North American and European automotive facilities. Lower gross margin from the PM segment was primarily driven by product mix and unfavorable cost absorption on lower volumes.

Operating margin was 3.6 percent, down 130 basis points, compared to the 3^rd quarter of 2018, or down 290 basis points on an adjusted basis, primarily due to lower adjusted gross margin of 90 basis points, incremental intangible assets amortization of 150 basis points and increased selling, product development and administrative expenses from the Interface business acquired on August 31, 2018. Adjusted EBITDA margin of 10.2 percent dropped by 60 basis points compared to the third quarter of 2018.

The 3^rd quarter 2019 effective tax rate was 35.1 percent compared to 25.1 percent in the 3^rd quarter 2018. The company's 3^rd quarter 2019 effective tax rate was negatively impacted by losses in jurisdictions where a tax benefit is not recognized.

Net income was $3.0 million, or $0.17 per diluted share, compared to net income of $6.3 million, or $0.36 per diluted share in the 3^rd quarter of 2018. Adjusted earnings per share were $0.19, including incremental intangibles amortization of $0.14 per share, compared to $0.54 per share in the 3^rd quarter of 2018.

Dale G. Barnhart, President and Chief Executive Officer, stated, “The 3^rd quarter sales declined 2 percent organically as on-going global trade tensions drove uncertainty in key markets. The 3^rd quarter sales were negatively impacted by a significant drop in demand in China, global weakness in sealing product markets and lower volume due to the strike at General Motors.

"From a profitability standpoint, adjusted EBITDA was negatively impacted by higher labor and overhead costs in the Thermal Acoustical Solutions segment and lower gross margin in the Performance Materials segment. Despite lower sales volumes, the Technical Nonwovens segment delivered healthy adjusted EBITDA margin of 16.5 percent.

"The business continues to drive strong cash generation, producing $27 million and $63 million from operations for the quarter and nine months ended, respectively, enabling us to pay down $13 million of outstanding credit facility borrowings in the quarter and $38 million year-to-date."

Mr. Barnhart concluded, "The market weakness we have seen in both the Technical Nonwovens and Performance Materials segments is not expected to improve in the fourth quarter and may further deteriorate. As a result, the company is aggressively adjusting its cost structure, and will record one-time severance-related expenses of $2.0 million to $2.5 million in the 4^th quarter, with savings of $4.0 million to $5.0 million anticipated in 2020. Further, while the General Motors strike just ended, we will be negatively impacted by the strike in the 4^th quarter and are sharpening our focus on reducing manufacturing costs in our Thermal Acoustical Solutions segment. As we close out 2019, we expect strong cash generation in the fourth quarter that will allow the company to continue to reduce its outstanding debt.

Kyocera Corp. and Ube Industries, Ltd. have signed a joint venture (JV) agreement to manufacture ceramic filters. Under the agreement, Kyocera will acquire 51 percent of the shares of Ube Electronics, Ltd. a wholly owned subsidiary of Ube Industries. Kyocera and Ube Industries will then establish a JV named Kyocera-Ube RF TEC Corp. which will begin operations in December 2019.

As the costs and complexity of gas turbine generators increase, end users seek ways to both protect and maximize their investment. Many gas turbine operators have explored high efficiency options for their inlet filters. Switching to HEPA grade intake filtration greatly reduces the presence of contaminates in the turbine compressor. This helps extend turbine life and efficiency while reducing the costs in fuel and maintenance. There have been a few drawbacks to making the move to HEPA filters. One issue is that with a more restrictive filter media comes increased initial pressure drop. There have also been questions surrounding the long-term durability and lifespan of the HEPA filters.

DHA Filter has developed a new line of intake filters that address many of these concerns. DHA’s Duraweb™ Elite line features a new 3-layer media that combines high efficiency filtration with durability and breathability. The base layer is a 100% synthetic material that gives the media pack its strength and enable the filter to be pulse cleanable. The 2^nd layer is a thin “relaxed” ePTFE membrane. The membrane is what gives the filter its high E11 efficiency while maintaining a low initial pressure drop. The physical properties of this membrane repel water and dust ensuring maximum filter life. Finally, a synthetic top layer adds dust holding capacity while protecting the membrane. The media is hydro- and oleophobic which helps it to perform in environments where hydrocarbons and/or high humidity are present.

Camfil’s New Gold Series X-Flo Package Dust and Fume Collector Connects Directly into Metal Cutting Systems

Camfil APC has introduced the Gold Series X-Flo Package (GSXP) dust and fume collectors designed for fast, easy integration with CNC laser and plasma cutting systems. The GSXP collector is built on core technology that has been proven in the field for more than 20 years with the original Gold Series collector. GSXP collectors are compact, prewired and ship fully assembled, which enables users to plug them directly into the cutting line. All internal electrical connections, controls and accessories are factory installed and ready to use upon delivery.

Equipped with two, four or six HemiPleat eXtreme Gold Cone X-Flo filter cartridges, GSXP collectors can handle airflows up to 3,000 CFM, depending on application requirements. Each filter cartridge contains 375 ft² of media, which provides filtration efficiencies up to MERV 15 per ASHRAE 52.2:2007. This enables operators to meet or exceed OSHA indoor air quality standards for most metal dusts. Additional HEPA modules can be added to increase the efficiency, allowing indoor air recirculation for applications with much lower permissible exposure limits (PELs).

GSXP units are constructed with 7- and 10- gauge steel and are powder coated inside and out for maximum durability. An integrated spark arrestor replaces the traditional inlet to reduce the chance of spark-generated fires. This spark arrestor still utilizes crossflow technology to create uniform airflow that extends filter life.

ULT AG has introduced the mobile soldering fume extraction unit LRA 160.1 for small and medium air pollutant quantities.

The air cleaning solution has been transferred into the design of the new system generation ULT 160.1.

In addition to an improved device handling, users benefit through high filtration rates, extremely low-noise operation and an optimized price-performance-ratio.

The mobile, robust and compact system design enables for flexible utilization at changing workplaces. Additionally, the LRA 160.1 unit is ready to be connected to external soldering systems via a D-Sub interface for automated operations.

The easy-to-use system provides standard installation opportunities for either one extraction arm (e.g., system Alsident) or two hoses of 50-mm diameter.

During soldering processes, large parts of the flux agent and a small portion of the solder will evaporate. The emerging aerosols and particles could be released into ambient air. These airborne pollutants can lead to serious medical conditions. Particularly dangerous substances are aldehydes, which emerge from materials containing colophony; some of them may be carcinogenic.

In addition, gases are released from coatings, adhesives or substrates during heating of the assembly. These gases also transport sticky aerosols, which build up in the soldering machines or on the products and contaminate them.

ULT’s fume extraction systems help to eliminate such airborne pollutants. The units remove the finest of particles and emissions during manual soldering tasks as well as in automated and semi-automated production processes.

4M Carbon Fiber and Montefibre Carbon to Partner for Production of the Low Cost Carbon Fiber

4M Carbon Corp. and Montefibre Carbon Fiber are in the process of finalizing a letter of intent (LOI) to establish a partnership, including a potential U.S.-based joint venture (JV).

4M and Montefibre will disrupt the carbon fiber industry by combining Montefibre's ultra-large tow precursor and 4M's low-cost carbon fiber production technology to produce the world's lowest-cost industrial-grade carbon fiber.

4M's patented technology reduces the initial investment of a carbon fiber manufacturing line by up to fifty percent (50 percent) and ongoing operating cost savings by greater than thirty percent (30 percent), which will enable rapid growth of low-cost carbon fiber capacity.

Montefibre's ultra-large tow technology, with the full support of the Spanish government, significantly reduces carbon fiber precursor cost by exponentially increasing volume throughput. The JV is planning to reserve up to 20,000 tons per year of Montefibre's capacity of carbon fiber precursor by 2025.

"4M and Montefibre's JV addresses the biggest issues preventing large-scale adoption of carbon fiber for industrial applications that will benefit greatly from the strength and light weight of carbon fiber," said Garo Artinian, 4M Board Member and Chief Advisor. According to Alfonso Cirera, President of Montefibre Carbon, "This JV will make an important contribution to the competitiveness of American industry and its global leadership in composites."

Chemicals	Ball Mills	Instrumentation
Compressors	Lime	Scrubbers - Wet
CEMS	Valves	Pumps
Filters	Mist Eliminators	Scrubbers - Dry
Filter Belts	Nozzles	Stainless Alloys
Fans	Limestone	Remote Monitoring
Filter Bags	Controls	Pneumatic Conveying

HEPA Class	Retention (total)
E10	> 85%
E11	> 95%
E12	> 99.5%
H13	> 99.95%
H14	> 99.995%
U15	> 99.9995%
U16	> 99.99995%
U17	> 99.999995%

Fiber	Type	Max Continuous Temperature	Chemical Resistance	Abrasion Resistance
PPS	Felted	375	Excellent	Excellent
PTFE	Woven	450	Excellent	Fair
Fiberglass	Woven	450	Good	Fair
P84	Felted	500	Very Good	Excellent