DANBURY, Conn.--(BUSINESS WIRE)--Praxair, Inc. (NYSE:PX) today announced it has signed a long-term agreement to supply oxygen to U.S. Methanol LLC’s new facility in Institute, West Virginia. The customer’s facility will produce methanol for use in the production of plastics, varnishes, medicines, adhesives and textiles.
Praxair will build a vacuum pressure swing adsorption (VPSA) plant that is expected to start up in 2019.
"We are proud to partner with U.S. Methanol as they build their first facility in West Virginia,” said Todd Lawson, vice president, east region for Praxair’s U.S. industrial gases business. “Praxair has a long-term expertise building and operating VPSA plants, and we look forward to providing them with a safe and effective solution.”
U.S. Methanol’s West Virginia facility will be a major regional manufacturer benefiting from the abundance of gas in the Marcellus and Utica shale fields. The low cost of producing natural gas and related byproducts is expected to expand the chemical industry in the area. The company selected the site because of its access to extensive water, rail and highway systems and low cost raw materials.
“We chose Praxair because of their reputation as a reliable supplier,” said Frank Bakker, U.S. Methanol chief executive officer. “They are an industry leader in VPSA technology, and we look forward to working with them as we expand our business in a region that is positioned for future growth.”
Praxair, Inc. is a leading industrial gas company in North and South America and one of the largest worldwide. With market capitalization of approximately $40 billion and 2017 sales of $11 billion, the company employs over 26,000 people globally and has been named to the Dow Jones® World Sustainability Index for 15 consecutive years. Praxair produces, sells and distributes atmospheric, process and specialty gases, and high-performance surface coatings. Our products, services and technologies are making our planet more productive by bringing efficiency and environmental benefits to a wide variety of industries, including aerospace, chemicals, food and beverage, electronics, energy, healthcare, manufacturing, primary metals and many others. For more information about the company, please visit our website at www.praxair.com.
About US Methanol
U.S. Methanol was founded in 2016 with the mission to reliably produce and deliver the highest quality methanol at the lowest delivered price to industrial consumers. The company entered the methanol production industry with the acquisition and planned relocation of two existing methanol production facilities having total capacity of more than 350,000 metric tonnes (107 million gallons) per year. It is relocating two methanol plants from Brazil and Slovenia to natural gas-rich USA. The company will offer customers pure, made-in-the-USA methanol—reliably, safely, and at a very competitive price.