Catalyst Sample Clauses
Catalyst. Catalyst is a component of the Fuel Cell that helps to initiate and maintain the electrochemical reaction needed to generate electricity. Catalyst is typically precious metals-based but may consist of other low cost materials.
Catalyst. We serve as a catalyst to promote the sustainability of effective programs for young children and their families.
Catalyst. The Catalyst;
Catalyst. Any catalyst or promoter used in the production of Acetic Acid in the Unit as of the time of determination.
Catalyst. In LT PEM FC, Platinum catalyst is required to promote hydrogen oxidation at anode and oxygen reduction at cathode. For a large diffusion of FC based systems, in CHP or automotive sectors, it is fundamental reduce the amount of precious catalyst. At present, total loadings are in the range 0.6-0.8 mgPt/cm2. More than 60% of catalyst is on the cathode side, due to slow kinetics of the oxygen reduction reaction. A significant reduction of Pt content on the electrodes is possible: for instance Panasonic, one of the major actors in Japanese ENEFIELD project, claims a 50% reduction of Platinum load in its fuel cells from 2011 to 2013. Platinum is employed in alloys with other metals like ruthenium, molybdenum, iron and nickel. The poisoning of the noble metal and the corrosion of the non-noble metal are the major problems of the catalyst that influence long-term stability and lifetime of the stack. Platinum is the most active metal to promote the oxidation reaction of oxygen, via the so-called “4 electrons transfer step” reaction. The adoption of less active metals, e.g. Au and Hg, promote the oxidation via the “2 electrons transfer step” with formation of highly reactive H2O2 as intermediate product. H2O2 is responsible for fast chemical degradation of the MEA. Pt is also the best current catalyst for the anode side. The Pt loading can be particularly reduced when operating with pure hydrogen. However, in the particular case of LT-PEM operating under reformate fuel, better tolerance to CO needs to maintain higher Pt loadings and most often not only pure Pt is used. Better state-of-art catalyst is Pt-Ru, thanks to the double function of ruthenium, which decreases the CO adsorption and promotes the CO oxidation into CO2 at lower potential than pure Pt. Major problem of this state-of-art catalyst is related to the dissolution of Ru which occurs even at low potential. One operating solution consists in using some air (air bleeding, 1-5% of air) in the fuel stream to promote CO oxidation and reduce the voltage losses due to anode catalyst poisoning. Air bleeding can be adopted as a normal operative condition of the stack to prevent CO poisoning, as well as ex-post or temporary solution to regenerate already poisoned catalyst and recover performances of the fuel cells4. Anode air bleeding is the most effective method since it is simple, efficient, and inexpensive. Although the benefits of air bleeding for the performance of CO-poisoned PEM are well known, the effect...
Catalyst. Sellers and Principals hereby acknowledge that the ownership of the catalyst component of the Airocide products has been transferred from JJS to the Purchaser pursuant to the terms of this Agreement. Neither Sellers nor Principals shall disclose to any third party any information regarding the catalyst, including its ingredients or how it is manufactured or how it is used.
Catalyst the use of innovative catalyst materials is largely spread in renewable energy sector. We will focus on two relevant examples of potential application of novel catalyst: closing the carbon cycle in industry and catalyst for Hydrogen Fuel cells
a. Closing the carbon cycle in industry. According to a model developed by International Energy Agency in order to limit the temperature increase within 2 °C by 2050, the CO2 levels should not exceed 15 giga tons annually. In this quest, increasing both the energy efficiency and the use of renewable sources is going to have the most profound effects. A range of different options that could help towards this target for mitigating climate change are considered worldwide, including carbon capture and storage (CCS). Recently an alternative option –carbon capture and utilisation (CCU)– has started to attract attention worldwide because it can turn waste CO2 emissions into valuable products such as chemicals and fuels, while at the same time contributing to climate change mitigation. CO2 will be a viable alternative to natural gas and oil as carbon resource for the chemical supply chain. Currently the developments of the latter alternative (CCU) are at different readiness levels (TRL): (i) existing mature technologies (such as urea production), (ii) emerging technologies (such as formic acid or other single carbon (C1) chemicals manufacture) and (iii) innovative explorations (such as electrocatalytic ethylene production).
b. Hydrogen Fuel cells: Fuel cells represent an important component of the energy transition, as they supply electrical energy created directly from a reaction of hydrogen and oxygen to form water without first having to create heat and steam from fossil fuels. Catalyst layer is one of the most important compounds to drive Proton Exchange Membrane Fuel Cells (PEMFC) performance. Additionally, the MEA (membrane electrode Assembly) is responsible of 40% of the total stack cost, mostly due to the cost of materials (catalyst and ionomer) The development of novel catalyst using nanotechnology will be crucial to xxxxxx this axis (Xxxxxxx, Xxxx, Xxxxx, Xxxxxxxxx, & Xxxx, 2005).
Catalyst. ⚫ We continue to see a number of upcoming catalysts for the company in the short to medium term, we outline key catalysts we anticipate over the next CY below: Key Catalyst CY’2021 CY’2022 Significance / Impact Dec’Q Mar’Q Jun’Q Sep’Q Dec’Q PromarkerD Further Licensing Deals Drive global uptake and future revenues First Sales Drive revenue Regulatory Updates (FDA/Other) Build user confidence in product and assist in second phase of test rollout / Assist regional roll-out of test US Reimbursement Code Secures payer approval and market demand Promarker™ Endometriosis Update New first-in-class diagnostic test/validates pipeline Giardia Update Potential proof of concept results Analytical Services New contracts Off-set cash burn & engage potential future partners ⚫ We note there are additional catalysts around overall pipeline program updates, conference presentations, amongst other things ⚫ We anticipate PIQ will trade up upon successfully achieving these catalysts, potentially substantially with some. We maintain our Speculative Buy recommendation with an upgraded $1.90/sh. Price Target ⚫ We have upgraded our Valuation and Price Target to $1.90/sh. from $1.75/sh. as a result of upgrading our forecasts ⚫ This Price Target per our analysis requires PIQ achieving the level of commercial adoption we forecast. The factors and risks surrounding these assumptions further drive our Speculative Buy recommendation ⚫ Our valuation summary is shown below: DCF EV A$m 194.2 (+) Net Cash (Pro-forma) A$m 5.9 Equity Value A$m 200.0 (/) SOI m 105.2 Valuation per Share A$/sh 1.90 Price Target A$/sh 1.90 ⚫ We further make note that our valuation does not include any potential value from any of PIQs PromarkerTM pipeline programs. We continue to view these as free options, which could realise value if commercially successful. Financial StatementsIncome Statement 2021a 2022f 2023f 2024f Performance RatiosGrowth & Margins 2021a 2022f 2023f 2024f PromarkerD Royalties 0.0 0.3 2.0 6.1 Revenue Growth -1% 1% 62% 88% Analysis Business 1.3 1.4 1.6 1.7 EBITDA Growth 79% 2% -44% -212% Other Income 1.7 1.3 1.3 1.3 EBIT Growth 63% 1% -38% -164% Total Sales 3.0 3.0 4.9 9.2 Normalized Net Profit Growth 48% -11% -38% -164% (-) COGS 0.0 -0.1 -0.4 -1.2 EBITDA margin -83% -84% -29% 17% Gross Profit 3.0 2.9 4.5 7.9 EBIT margin -96% -96% -36% 12% (-) OPEX -5.4 -5.5 -5.9 -6.4 Normalized net profit margin -109% -96% -36% 12% EBITDA -2.5 -2.5 -1.4 1.6 Effective tax rate 0% 0% 0% 0% EBIT -2.8 -2.9 -1.8 1...
Catalyst. The guaranteed performances shown hereafter are established for the use of the appropriate amount of STR 111 catalyst sold by LICENSOR.
Catalyst. Catalysts are needed to increase the rate of a chemical reation and improve the overall energy balance of a process, because they lower the activation energy during the transition from substrate to product. In the BIOCORE process a catalyst is needed for the catalytic production of xylitol from xylose. The so-called Xxxxx Nickel, derived from a nickel-aluminum alloy, is used as catalyst. Xxxxx Nickel is a fine-grained solid containing about 90% nickel usually added with molybdenum to increase reactivity and selectivity (BIOCORE D5.5, p. 124). The activity of the Xxxxx Nickel decreases during the process but can be regenerated by washing with an alcohol (mainly ethanol) solution (BIOCORE D5.5, p. 141). According to the Eurostat Prodcom database, the price for nickel alloy plates and sheets was about 15,000 EUR/t in the EU-27 in 2010, that of nickel alloy bars and rods about 19,000 EUR/t and that of Nickel powders and flaces about 23,000 EUR/t. These price indications are in line with quotes for Xxxxx Xxxxxx found on business platforms. As the price for the base case we will therefore apply 19,000 EUR/t for the nickel catalyst. However, new catalyst typically does not have to be bought every year but may be reused for a limited number of cycles. Since there is uncertainty about the number of cycles that would be feasible, the cost analysis assumes for the base case that new nickel catalyst would only have to be bought every other year, so that the annual costs amount to 9,500 EUR/t. Hydrogen (H2) is a colorless, odorless, tasteless gas. Its industrial production is mainly from the steam reforming of natural gas and less often from more energy-intensive hydrogen production methods like the electrolysis of water. In the BIOCORE process it is used to reduce xylose to xylitol with the nickel catalyst. For the base case, we are using a hydrogen price of 3,000 EUR/t. According to the Eurostat Prodcom database, the average price of hydrogen was about 16 EUR/m3 in the EU-27 in 2010. The following Table 6 summarises the unit costs in EUR/t that are applied for all operating materials in the base case. Table 6: Prices for operating materials for the base case scenarios Acetic acid 460 Formic acid 750 Hydrogen peroxide 525 Cellulase 8,000 NaOH 370 NH3 310 KH2PO4 870 Ammonium sulfate 110 S. cerevisiae 970 Nickel 9,500 H2 (catalytic process only) 3,000 Source: nova 2013 The following Figure 13 shows an overall comparsion of the estimates of annual costs for operating mat...