A word of welcome
Welcome to the fourth edition of our quarterly newsletter. Yesterday we announced our Q4 results, which show that we are continuing to make strong commercial progress while our ReSolute plant progresses towards a permanent permit. 2023 started with the signing of distribution agreement with OQEMA, and we share this and other news so you are across our key developments. Thank you for your support and interest and we hope you find this update useful.
Tony Duncan, CEO, Circa Group AS
Q4 financial results
Commercial momentum is building for Circa with our OQEMA partnership and the appointment of Nick Smith as Head of Development and Commercialisation. While changes to the ReSolute permitting process will extend the runway to plant commissioning by six months, our FC5 plant in Tasmania will continue to support the market development needs of Merck, OQEMA, Will & Co, and provide Circa’s direct customers with the ability to trial Cyrene™ in their industrial processes.
Circa and OQEMA partner for multi-year distribution of Cyrene™
In January Circa and OQEMA signed a supply and capacity reservation agreement for the sale of Cyrene™ into Europe. The agreement is for the market development and supply of several thousand tonnes of Cyrene™ per annum. This brings reservation commitments for Cyrene™ volumes to over 5,000 tonnes per annum, which will be supplied by Circa’s ReSolute™ plant, and the following FC6 plant, now at planning stage.
Circa Institute marks its establishment with an opening event at York
Circa and our partners already benefit from the expertise of the Circa Renewable Chemistry Institute. To officially launch the Institute, the University of York will convene industry leaders and innovative practitioners on the 23rd of March. Professor James Clark will chair a panel, including Croda, Synthomer and the Chemical Industries Association, which will explore the barriers and critical success factors in the adoption of renewable chemistry.
It all started with a love of science
It was a love of science that led our new Head of Development and Commercialisation to study chemistry and the fascination of seeing science applied to human needs that led him to the chemical industry where I worked for more than 25 years before joining Circa in January 2023. Read more about Nick and his drivers to change chemistry for good in our latest blog.