Yara Latest News: Forge Partnership With Kongsberg Digital

Key Takeaways

1. Strategic Collaboration: Kongsberg Digital and Yara International announce a two-year agreement to develop digital twin technology for Yara’s production facilities.
2. Technological Advancements: The initiative will create an operational twin for Yara’s factory in Herøya, Norway, and a project twin for a carbon capture project in Sluiskil, Netherlands.
3. Global Ambition: The digital twin technology developed will potentially be deployed across Yara’s worldwide operations, enhancing efficiency and operational insights.
4. Focus on Sustainability: The digital twin in Sluiskil will assist in a pioneering carbon capture project, contributing to significant sustainability efforts.
5. Enhanced Decision-Making: The technology aims to support Yara’s operational decision-making, offering detailed, real-time, 3D visualizations of processes and operations.

Kongsberg Digital, a prominent industrial software developer, has joined forces with Yara International, a global leader in fertilizers and a major ammonia distributor. This partnership marks the beginning of a significant endeavor to enhance digital capabilities in Yara’s factories using advanced digital twin technology. The initial focus will be on facilities located in Herøya, Norway, and Sluiskil, Netherlands, with plans to scale the technology globally.

Enhancements at Herøya Facility

At Yara’s Herøya production facility, the operational digital twin will harness industrial and technical data along with detailed documentation of equipment. This integration will result in a sophisticated work surface that includes 3D models of the plant and vital operational data. This tool is designed to improve decision-making processes, providing staff with timely and relevant information to optimize operations and maintenance.

Sluiskil’s Project Twin and Carbon Capture Initiative

In Sluiskil, the focus shifts to a project twin supporting a carbon capture initiative aimed at converting and transporting CO2. This twin will facilitate the transition from project planning to operational stages, ensuring smooth data integration and operational readiness. The technology will lay down a digital thread that enhances project management and operational efficiency through all phases of the carbon capture project.

Statements from Yara and Kongsberg Digital Executives

Merete Østby, Digital Manager at Yara Porsgrunn, highlighted the selection of Kongsberg Digital for its robust technical solutions and user-friendly interface, noting significant expected improvements in workflow efficiencies. Shane McArdle, CEO of Kongsberg Digital, expressed pride in this collaboration, emphasizing the opportunity to provide Yara with improved operational insights and demonstrating the broad applicability of their digital twin technology in the process and chemical industries.

Future Prospects and Industry Impact

This collaboration between Kongsberg Digital and Yara International not only exemplifies the growing trend of digitalization in industrial operations but also sets a benchmark for the integration of sustainability through technology. By optimizing operations and supporting sustainable projects like carbon capture, Yara is poised to enhance its productivity and environmental stewardship simultaneously.

Yara Latest News

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Yara faced several challenges and strategic adjustments, resulting in a decrease in EBITDA and net income. However, there was a 12% increase in total deliveries, with a notable 37% increase in European deliveries. Yara is focused on enhancing operational resilience and flexibility, leveraging low-carbon solutions to drive long-term growth and support a nature-positive food future.

Read more here.

Hans Olav Raen’s New Chapter at Yara Clean Ammonia (2024/04/03)

Hans Olav Raen, a seasoned professional with over two decades of experience in the fertilizer industry, has been appointed as the new head of Yara Clean Ammonia (YCA). Raen’s previous roles include Business Director for OCI’s fertilizer business in Europe. He has a master’s degree from the College of Europe and a degree in digital leadership from the ESSEC Business School in Paris. Magnus Krogh Ankarstrand, EVP Corporate Development in Yara International, expressed strong confidence in Raen’s capabilities to lead YCA forward in the evolving clean ammonia market.

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Yara International had a challenging year but remained committed to reducing emissions and driving the energy transition. The company emphasized sustainability and innovation through low-carbon solutions, digital agriculture initiatives, and expanding organic offerings. Yara aims to offer a comprehensive suite of solutions that cater to the evolving needs of the agricultural sector.

Read more here.

Reports Q4 Financial Performance (2024/02/09)

Yara International reported a decrease in its Q4 EBITDA due to lower market prices. However, the company remains optimistic about the positive market trajectory moving into 2024. Yara’s strategic focus remains on operational resilience, profitable growth in low-carbon ammonia, and transforming the global food system. The current season has seen a lower-than-normal nitrogen supply in both Europe and the US, suggesting a tighter global balance for the first half of 2024.

Yara Acquires Agribios Italiana’s Organic-Based Fertilizer Business (2023/12/13)

Yara has acquired Agribios Italiana’s organic-based fertilizer business to expand its presence in the European organic fertilizer market. The move is aligned with the European Union’s goal to increase farmland under organic farming and strengthen soil health. Yara plans to leverage Agribios’ expertise in organic-based fertilizers to offer sustainable agricultural solutions. The acquisition will strengthen Yara’s foothold in Italy, the second-largest organic-based fertilizer market in Europe.

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Yara has responded to the impact of global temperature rise on agriculture by launching YaraAmplix, a biostimulant made of natural ingredients to enhance crop yield and quality, boost nutrient efficiency, and improve tolerance to environmental stresses. Yara’s approach emphasizes regenerative agriculture, and the company conducts scientific trials globally to validate the effectiveness of biostimulants. YaraAmplix will begin its commercial introduction in China, Brazil, and France by the end of 2023, with a broader rollout planned for 2024.

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Yara International ASA, a leading agricultural solutions company, has recently purchased several shares as part of its Employee Share Purchase Program and Share-Based Remuneration (SBR) program. The Foundation for employees’ shares in Yara bought 44,000 shares at an average price of NOK 366.0686 each. At the same time, Yara purchased additional shares for its Group Executive Board members and SBR program participants. In total, 624 permanent employees in Norway participated, buying 44,067 shares from the Foundation, which was left with 583 shares after the transaction. This initiative aims to align the Group Executive Board’s and shareholders’ interests, requiring board members to invest in Yara shares annually. Notable trades included those by President and CEO Svein Tore Holsether and other executives, ensuring their shareholding aligns with their gross annual remuneration and reflects the company’s performance and shareholder interests.

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Yara Growth Ventures AS and Navigator Holdings Ltd. recently acquired Azane Fuel Solutions AS, a pioneer in technology and services that enable the maritime industry to transition seamlessly to green fuels—the firm plans to establish the world’s inaugural ammonia bunkering network. Yara’s pre-order of 15 units from Azane demonstrates the growing interest and trust in the potential of ammonia as a clean fuel. The immense potential of transitioning the entire deep-sea shipping fleet to zero-carbon fuels could significantly decrease global emissions.

Yara Reports Reduced EBITDA in Q3 2023 Amid Lower Margin Environment (2023/10/20)

Yara International reported a significant decline in EBITDA for Q3 2023, attributing it to reduced margins in the nitrogen industry. Despite this, the company managed to maintain a strong operating cash flow of $1 billion due to the release of operating capital. Yara remains optimistic about the entire agricultural season and aims to drive a green transition in various energy-intensive industries.

Discover their complete financial results here.

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Yara Germany, Bindewald & Gutting Milling Group, and Harry-Brot have partnered to reduce carbon emissions in cereal farming in Germany. They will use green fertilizers from Norwegian ammonia processed using hydropower in Rostock. This will reduce the CO2 footprint by up to 90%. The Bindewald & Gutting Milling Group will use Yara’s eco-friendly fertilizer on 1,600 hectares starting from 2023/24. A recent IPSOS study commissioned by Yara shows that German consumers want sustainable food production and are willing to pay a premium for eco-friendly food.

Yara’s Second-Quarter 2023 Results (2023/07/20)

The company reported declining profits in Q2 2023 due to falling prices and a low-margin environment. Despite this, the company remains optimistic, buoyed by positive volume effects, improved demand, and a tightening nitrogen market outlook for the new season. Despite the challenges posed by the current market conditions, the company has demonstrated the resilience of its flexible business model. The company is ambitiously developing two full-scale blue ammonia projects in the United States, positioning the company to play a crucial role in the global transition toward a greener and more sustainable future.

Discover their complete results here.

Yara Growth Ventures Invests in Omnivore Agritech & Climate Sustainability Fund (2023/06/29)

Omnivore, established in 2011, has backed over 40 Indian startups working to make farming more profitable, resilient, sustainable, and climate-proof. Its second fund raised USD 82 million and will focus on funding startups addressing climate mitigation and adaptation. Yara Growth Ventures partnered with Omnivore to identify potential disruptors and collaborate for innovative agricultural inputs and digital solutions.

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Yara International ASA has launched YaraFX Insight, a new agricultural API solution that allows third parties to integrate Yara’s crop nutrition knowledge and global field trials into their digital platforms. The API-based solution enables farmers worldwide to access Yara’s crop nutrition knowledge through the platforms of other leading AgTech providers, making it easier to improve nutrient use efficiency, crop yield, soil health, and profitability. The company aims to cover 150 million hectares with its digital services by 2025 and supports as many farmers as possible to grow a nature-positive food future.

Yara International to Construct Specialty Crop Nutrition and Biostimulant Production Plant (2023/05/25)

Yara International’s specialty crop nutrition and bio-stimulant products have seen a significant increase in sales over the past two decades, leading to the development of a new production plant to expand its presence further. The plant, to be operational by the end of 2025, will be located in Yorkshire, UK, doubling the production capacity of its YaraVita products. These products are specially formulated to cater to the unique needs of crops, improving resilience to climate change and enhancing crop quality and yield.

Image provided by Yara International