Analyst optimistic about US Huntsman’s MIRALON carbon nanotubes

HOUSTON (ICIS)–A stock analyst highlighted the potential for Huntsman’s MIRALON, a structural-carbon material produced via methane pyrolysis that makes hydrogen as a by-product.

In methane pyrolysis, natural gas is converted to solid carbon and hydrogen with little, if any, carbon dioxide (CO2). If process uses renewable energy, then it emits no CO2, according to the Florence School of Regulation of the European University Institute. If the feedstock is biomethane or renewable natural gas, it is carbon negative, the Florence school said.

Huntsman acquired the MIRALON technology in 2018 when it bought Nanocomp.

Huntsman’s methane-pyrolysis process is different from other technologies because it produces a much higher grade of solid carbon, according to Scott Wright, division president of Huntsman’s Advanced Materials business. He made his comments during the company’s investor day in November.

For most methane pyrolysis, the solid carbon is at best the equivalent of carbon black, he said.

Huntsman’s process results in MIRALON, a material based on carbon nanotubes.

MIRALON APPLICATIONS
Wright highlighted several applications for the material during his investor-day presentation.

When a current flows through MIRALON, it produces heat, he said. Satellites can use this property of MIRALON to keep their components warm, making them last longer in the cold temperatures of space.

“This material actually is flying around in Jupiter today on the Juno satellite,” Wright said.

Other applications stem from MIRALON’s ability to dissipate static charges. These include adhesives and floor coating, Wright said.

“One of the big opportunities for us going forward is in the area of batteries. Our MIRALON material in the anode and the cathode basically helps to hold together the terminals of the battery more effectively,” Wright said.

The material prevents heat build-up in batteries, allowing them to last longer, he said.

MIRALON can be used as a light-weight structural carbon fibre, he said.

Carbon fibre is made from polyacrylonitrile (PAN), and it is combined with thermoplastics and thermoset resins to make composites.

Huntsman already participates in this market through its epoxy resin and polyurethanes businesses.

MIRALON is almost as strong as aerospace-grade carbon fibre, and it is more flexible, allowing companies to develop more complex shapes, Wright said.

One other application is in construction materials, he said. Instead of wood and particleboard, companies could use MIRALON to make houses and buildings, Wright said.

HYDROGEN BY-PRODUCT
In addition to MIRALON, Huntsman’s methane pyrolysis technology produces hydrogen, allowing the company to participate in this incipient market.

Huntsman could use the hydrogen internally to produce the heat needed for its methane pyrolysis reaction. The reaction heats methane to 1,150 degrees Celsius. Huntsman could generate that heat by burning hydrogen, which making the process carbon neutral. Even if Huntsman burned hydrogen, it would still produce a surplus of the gas.

MIRALON RAMP-UP
Huntsman is making MIRALON at a facility in New Hampshire, and it is selling pulp, yarn and sheet grades, according to a statement from the company.

“The key to making this happen is scale,” Wright said.

A microplant made MIRALON at a cost of $2,000/kg, according to a slide presentation made during the company’s investor day. In 2021, a miniplant should lower the cost to $1,000/kg. In 2022, a pilot plant should bring costs down to $100/kg.

The firsts commercial plant could start up in 2024. Huntsman is not revealing the location of the plant or its capacity. After then, costs should fall below $10/kg.

By 2025, MIRALON sales could reach $50m, according to the slides.

HUNTSMAN HEAD START
Huntsman could start up commercial-scale methane pyrolysis ahead of other companies, said Laurence Alexander, an equity analyst with the investment bank Jefferies. He made his comments in a research note.

“If MIRALON scales over the next few years, it could also focus investor attention on how much the Huntsman operating culture and investment case has improved over the past decade,” Alexander said.

Thumbnail is an illustration of batteries, one of the applications of Huntsman’s MIRALON. Image by Shutterstock