Dow and Davy License New LP Oxo℠ Technology to Shaanxi Yanchang Petroleum Yan’an Energy and Chemical Co., Ltd. in China

Midland, Michigan, USA, London, England and Shanghai, China - June 12, 2012

Davy Process Technology Limited (DPT), a Johnson Matthey company, and The Dow Chemical Company’s (Dow) Oxygenated Solvents business announced that Shaanxi Yanchang Petroleum Yan’an Energy and Chemical Co., Ltd.( Yan’an Energy), a project entity invested in by Shaanxi Yanchang Petroleum (Group) Co., Ltd., the fourth largest oil company in China, has selected LP Oxo Technology using Dow’s proprietary NORMAX™ Catalyst to co-produce 2-propylheptanol, normal butanol and iso butanol in a single integrated plant in Fu County, Shaanxi Province, China. With this license, Yan’an Energy will build a LP Oxo plant, as part of Yanchang Petroluem Yan’an Coal-Gas-Oil Resources Integration Complex, with a capacity of  80 kta 2-propylheptanol, 206 kta nomal butanol and 7 kta iso butanol. The new plant adopts the industry-first design based on DPT & Dow state-of-the-art LP Oxo Technology that specializes in the production of 2-propylheptanol and butanols within one combined facility.

“Yan’an Energy is pleased to select LP Oxo Technology. With the efforts of all parties involved in this important project, we believe the plant could be built on schedule in accordance with the design requirements and bring great value to the Company,” commented Mr. Wang Jiaxin, General Manager of Yan’an Energy.
 
“We are honoured and delighted Yan’an Energy has selected LP Oxo Technology for the integrated 2-propylheptanol and butanols plant” said Antoine Bordet, Managing Director of DPT. “This will be DPT’s 48th LP Oxo project and we look forward to working with Yan’an Energy from process design to successful start-up.”

“We believe this unique LP Oxo licensed plant will enjoy low feedstock and energy requirements as well as significant savings in capex investment” added James Batt, Global Business Director, Oxygenated Solvents, Dow. “We are pleased to license this new design process using NORMAX™ Catalyst to Yan’an Energy to keep strengthening our commitment to the oxo alcohol market.”

About LP Oxo Technology 
LP Oxo Technology is a low-pressure hydroformylation process that is most commonly used with propylene and synthesis gas (a mixture of hydrogen and carbon monoxide) to produce normal- and isobutyraldehydes. These butyraldehydes are then converted into 2-ethylhexanol (2-EH) and normal- and isobutanol. Additional applications of the LP Oxo Technology include a process for producing 2- propyl heptanol, a growing plasticizer alcohol alternative to 2-EH, from mixed butene streams and a process for producing C12 to C15 surfactant range alcohols from C11 to C14 Fischer-Tropsch olefins.  The technology is also applied as a component of a process plant for converting heptene-1 that has been extracted from Fischer-Tropsch products to co-monomer grade octene-1.  In 2011 DPT and Dow celebrated their 40th anniversary in collaborating in the field of LP Oxo Technology development and licensing.  Over the course of those 40 years, DPT, Dow and their predecessors have licensed the LP Oxo Technology into 48 projects at 36 plants in 15 countries on four continents.

About Davy Process Technology
Davy Process Technology, a Johnson Matthey company, has a global business in petrochemicals technology development and technology licensing. The company has its headquarters in London and has a Technology Centre in Teesside, UK. It owns a range of proprietary process technologies such as methanol, Fischer-Tropsch, SNG, butanediol, natural detergent alcohols, Oxo alcohols, PTA, industrial amines, ethyl acetate and propylene glycol. For further information, visit the company’s website at www.davyprotech.com.

About Dow 
Dow (NYSE: DOW) combines the power of science and technology to passionately innovate what is essential to human progress. The Company connects chemistry and innovation with the principles of sustainability to help address many of the world's most challenging problems such as the need for clean water, renewable energy generation and conservation, and increasing agricultural productivity. Dow's diversified industry-leading portfolio of specialty chemical, advanced materials, agrosciences and plastics businesses delivers a broad range of technology-based products and solutions to customers in approximately 160 countries and in high growth sectors such as electronics, water, energy, coatings and agriculture. In 2011, Dow had annual sales of $60 billion and employed approximately 52,000 people worldwide. The Company's more than 5,000 products are manufactured at 197 sites in 36 countries across the globe. References to "Dow" or the "Company" mean The Dow Chemical Company and its consolidated subsidiaries unless otherwise expressly noted. More information about Dow can be found at www.dow.com.

About Shaanxi Yanchang Petroleum 
Shaanxi Yanchang Petroleum (Group) Corp. Ltd.(abbreviated as Yanchang Petroleum Group), directly attached to Shaanxi People’s Provincial Government, is one of the four qualified enterprises for oil and gas exploration in China. In 1998 and 2005, two great restructurings were undertaken, resulting in integration and reorganization of Shaanxi Yanchang Petroleum (Group) Co. Ltd.. In 2010, it ranked No.72 among top 500 Chinese companies, and No.69 among top 200 Chinese companies with best profit.  More information about Shaanxi Yanchang Petroleum can be found at www.english.sxycpc.com

Dow (NYSE: DOW) combines the power of science and technology to passionately innovate what is essential to human progress. The Company is driving innovations that extract value from the intersection of chemical, physical and biological sciences to help address many of the world's most challenging problems such as the need for clean water, clean energy generation and conservation, and increasing agricultural productivity. Dow's integrated, market-driven, industry-leading portfolio of specialty chemical, advanced materials, agrosciences and plastics businesses delivers a broad range of technology-based products and solutions to customers in approximately 180 countries and in high-growth sectors such as packaging, electronics, water, coatings and agriculture. In 2014, Dow had annual sales of more than $58 billion and employed approximately 53,000 people worldwide. The Company's more than 6,000 products are manufactured at 201 sites in 35 countries across the globe. References to "Dow" or the "Company" mean The Dow Chemical Company and its consolidated subsidiaries unless otherwise expressly noted. More information about Dow can be found at www.dow.com.


For Editorial Information:

Rachel Wu
The Dow Chemical Company
+86 21 38512961