BP and Eastman Chemical Company reach agreement to license Energx polyethylene technology
BP (NYSE:BP) and Eastman Chemical Company (NYSE:EMN) today announced an agreement to collaborate in the marketing and licensing of Eastman’s proprietary Energx polyethylene technology. Under the agreement BP will have rights to use Energx technology and will market and license the technology to other gas-phase producers, particularly licensees of BP’s Innovene gas-phase polyethylene technology. Eastman and BP will share in the income generated by licensing the technology.
“Sometime ago we concluded that BP was the optimal sub-licensing partner for us and that together we would be able to make Energx technology more accessible to the marketplace,” said Thomas A. Smith, vice president and general manager of Eastman's Container Plastics business. “I am pleased we have now reached agreement with BP to allow this to happen.”
The agreement encompasses both the first-generation Energx and the second-generation Energx DCX technologies for prepolymer and direct injection supported catalyst systems. Energx polyethylene technology can be used in gas-phase polyethylene manufacturing facilities to produce high performance linear low-density polyethylene (LLDPE) and high-density polyethylene (HDPE). Eastman's Hifor, Hifor Clear and Hifor Xtreme polymers are produced using Energx technology.
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