At the SK Materials headquarters in Seoul, Korea, CEOs of SK materials airplus and Arencibia joined forces to announce a joint venture aimed at building and running bulk gas recycling systems for Asia's largest manufacturers in the silicon, semiconductor, aerospace, metals, and other crucial supply chains.
The joint venture will be the first enterprise in Asia to concentrate solely on designing, engineering, building, and running bulk gas recovery systems, particularly those targeted at recovering costly process gases like helium, neon, and other rare gases that are used in crucial manufacturing processes. Arencibia will be in charge of the recovery process and design, and SK Materials Airplus will be in charge of managing operations and business-related activities including sales and marketing.
Due to geopolitical threats, severe price swings, and limits on the supply of bulk gases, Asia's major businesses are experiencing significant volatility in their supply chains. Instability in the supply chain has an impact on both their commercial and manufacturing operations.
The joint venture will offer exceptional cost savings, supply chain security and reliability, as well as notable reductions in the energy and carbon footprint of the production process, by recycling process gases on-site for Asia's leading manufacturers. The biggest manufacturers in Asia will be able to do this in order to boost their competitiveness, safeguard their supply chain, and lessen their environmental effect, or, to put it another way, future-proof their manufacturing business.
"Given the precarious supply and price fluctuation of rare gases, upcycling is the best solution for steady growth," said Mr. Oh, CEO of SK materials airplus. "Through close cooperation with Arencibia, we will lead the upcycling business in Korea and Asia and shape the net-zero trend."
"Arencibia is the only company exclusively devoted to designing, building and operating custom industrial gas recovery systems for the world's largest manufacturers," said Mr. Frissora, CEO of Arencibia. "Manufacturing industries, particularly in silicon, semiconductor, aerospace and metals, face unprecedented challenges related to industrial gas availability and cost, as well as reducing their environmental impact. We are honored and humbled to partner with SK to help Asia's leading manufacturers reduce both their costs and carbon footprint. By combining our unique technology with SK's tremendous scale, experience and vision, this new company will accelerate Asia's transition to a low carbon economy."