Topsoe Archives | Market Krystal

Topsoe unveils ATJet alcohol-to-jet pathway for sustainable aviation fuel

admin — Fri, 23 Oct 2026 00:00:00 +0000

Topsoe presents its ATJet alcohol-to-jet solution, which converts ethanol into sustainable aviation fuel through ethanol-to-ethylene dehydration, selective oligomerization, and its HydroFlex and H2Bridge technologies. The article says the design aims to deliver competitive levelized cost of SAF by maximizing SAF yield and minimizing capital expenditure. It also states that H2Bridge recycles coproducts to generate renewable hydrogen on-site, removing the need to import green hydrogen. Topsoe says ATJ projects are emerging in ethanol-producing or importing countries such as Brazil and India.

Why it matters

As HEFA feedstock supply tightens, ethanol-based ATJ routes could give SAF producers and ethanol makers a lower-cost alternative, shifting feedstock demand and investment toward ethanol and bioethylene supply chains.

Key facts

Companies	Topsoe
Chemicals	ethanol, ethylene, sustainable aviation fuel, hydrogen, used cooking oil
Timing	23 October 2026
Partners	leading ETE technology providers
End uses	sustainable aviation fuel, polymer production

Market context

Sustainable aviation fuel, or SAF, is a drop-in jet fuel made from renewable feedstocks, and airlines and fuel suppliers buy it to meet blending mandates and decarbonization targets. Most SAF today is produced through hydroprocessed esters and fatty acids, known as HEFA, which relies on waste oils and fats. Ethylene is a core petrochemical building block used mainly for polyethylene, polyvinyl chloride and other polymers, so routes that link ethanol to ethylene draw interest from both fuel and polymer supply chains. Ethanol is produced at scale from sugar cane and corn, and it is traded widely as a fuel and chemical feedstock. Alcohol-to-jet routes convert ethanol into jet-range hydrocarbons, and their economics depend on ethanol prices, hydrogen availability and the capital cost of conversion units. Where hydrogen must be imported, costs can rise, so integrated designs that generate hydrogen on site are watched closely by producers in ethanol-rich regions.

Source: official release on topsoe.com. Summary and context written by Market Krystal.

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Topsoe licenses kerosene hydrotreating technology to BPCL for Mumbai SAF co-processing

admin — Wed, 14 Oct 2026 00:00:00 +0000

Topsoe has signed a licensing agreement with Bharat Petroleum Corporation Limited (BPCL) to supply its Kerosene Hydrotreating Technology for co-processing at BPCL's Mumbai Refinery. BPCL will revamp its existing 4,000 metric tons per day Kerosene Hydrotreater Unit to co-process 5% used cooking oil renewable feedstock with conventional feedstock, producing sustainable aviation fuel without a new dedicated unit. The final investment decision has been taken, with commissioning expected by the end of 2026, and the SAF will supply airlines refueling international flights from Indian airports.

Why it matters

Indian SAF supply for international flights gains a new domestic source ahead of CORSIA compliance in 2027, using existing refinery kerosene hydrotreating capacity rather than a new dedicated SAF unit.

Key facts

Companies	Topsoe, Bharat Petroleum Corporation Limited, BPCL
Chemicals	Sustainable aviation fuel, Kerosene, Used cooking oil
Capacity	4,000 metric tons per day Kerosene Hydrotreater Unit; up to 5% renewable feedstock co-processed
Location	BPCL Mumbai Refinery, Mumbai, India
Timing	2026, end of 2026, 2027
Partners	Bharat Petroleum Corporation Limited (BPCL)
End uses	Airlines refueling international passenger flights at Indian airports, Aviation sector decarbonisation

Market context

Sustainable aviation fuel is a drop-in replacement for fossil jet fuel, made by hydrotreating renewable feedstocks such as used cooking oil and fats into paraffinic hydrocarbons that meet jet fuel specifications. Demand is driven mainly by airlines and aviation fuel buyers facing blending mandates and emissions-reduction targets, with international flights a key segment because of offsetting schemes. Kerosene hydrotreating is a mature refinery process, so co-processing renewable feed in an existing unit lets a refiner add SAF output with limited capital, while avoiding the cost and schedule of a new dedicated plant. For buyers, this type of route can add supply without a large new build, though volumes are limited by the renewable feedstock share and by the availability of waste oils and fats. Competing SAF producers and feedstock collectors may see more pressure as refiners adapt existing assets.

Source: official release on topsoe.com. Summary and context written by Market Krystal.

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Topsoe Reports Lower First-Half Revenue but Higher EBIT Before Special Items

admin — Thu, 27 Aug 2026 00:00:00 +0000

Topsoe reported first-half 2026 revenue of DKK 3,412 million, down from DKK 3,679 million a year earlier, with EBIT before special items rising to DKK 185 million from DKK 152 million. Catalyst orders in the Middle East were postponed due to the regional conflict, while the Technology business performed strongly. The company raised its full-year 2026 revenue guidance to DKK 8,000–8,500 million and its EBIT before special items margin to 7.0–10.0%, and raised its Power-to-X restructuring cost estimate to DKK 4,100–4,400 million.

Why it matters

Higher full-year guidance rests on an expected improvement in catalyst sales in the second half, so refiners and chemical producers may see catalyst supply and delivery timing shift in the Middle East and beyond.

Key facts

Companies	Topsoe, Topsoe A/S
Chemicals	low-carbon fuels, renewable fuels, e-fuels, conventional fuels and chemicals
Investment	Restructuring and impairment cost for Power-to-X assets revised to DKK 4,100–4,400 million (previous range DKK 3,500–3,900 million), primarily non-cash; first-half one-off cost of DKK 3,779 million treated as special items
Location	Denmark (headquarters)
Timing	27 August 2026, first half of 2026, May 2026 (organizational restructuring), full year 2026
End uses	clean and conventional fuels, chemicals, e-fuels, low-carbon fuels, renewable fuels

Market context

Topsoe is a Danish developer of catalysts and process technologies used in refining, hydrogen production, ammonia and methanol synthesis, and emerging low-carbon fuels. Catalysts are consumed or periodically replaced in these plants, so catalyst sales track refinery turnarounds, petrochemical expansions and new build activity, while licensed technology revenue tends to be lumpier and tied to project awards. Demand for catalysts is driven mainly by the fuels and chemicals industries, with growing interest in e-fuels and renewable fuels as producers pursue lower-carbon feedstocks. When large catalyst orders slip in a key region, suppliers face delivery timing uncertainty and buyers may face longer lead times or extended run lengths for existing catalyst. Competitors in catalyst and licensing markets, such as other large catalyst makers, can gain share when projects are delayed, although project timing in the Middle East is usually shaped by broader regional conditions. Buyers should watch order intake and delivery schedules rather than headline revenue alone.

Source: official release on topsoe.com. Summary and context written by Market Krystal.

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