Merichem Technologies Enhances Sulfur Treatment Capabilities with Acquisition of Chemical Products Industries

Merichem Technologies (the "Company"), a portfolio company of Black Bay Energy Capital ("Black Bay"), announced today the closing of its acquisition of Chemical Products Industries ("CPI"), a provider of novel chemistries for sulfur removal and industrial cleaning applications. CPI's flagship product line, the SULFURTRAP® family of adsorbents, delivers a highly efficient, lower cost, and environmentally friendly solution for sulfur contaminants in natural gas and biogas. The acquisition of CPI aligns with Merichem Technologies' strategy to be a leading provider of sulfur treating solutions across a broad range of concentrations and end-markets.

Merichem Technologies, acquired by Black Bay in early 2024, is a global provider of sulfur treating solutions, including market-leading technologies such as LO-CAT®, FIBER FILM®, THIOLEX®, MERICAT®, MERICON®, and a suite of proprietary chemical catalysts. The Company has treated sulfur and related impurities for decades, across various end markets that include refining, renewable fuels, biogas, midstream, petrochemical, and other industrial applications.

"The acquisition of CPI aligns perfectly with Merichem Technologies' strategy to expand its technology suite and our goal to be the end-to-end market leader in sulfur treatment," said Cyndie Fredrick, CEO of Merichem Technologies. "With our unparalleled track record across multiple industries, Merichem Technologies can now be viewed as the one-stop-shop for clients seeking sulfur treatment solutions."

CPI's products will be integrated into the Merichem Technologies' Catalyst Division, leveraging a global sales force and clients across multiple continents. The CPI team will be joining Merichem Technologies' Catalyst Division and Jordan Flaniken, current Chief Operating Officer of CPI, will be leading the new Adsorbent product line for the Company. William Rouleau, SVP of Catalysts for Merichem Technologies, added "We couldn't be more excited to bring the CPI team and technologies to our strong base of proprietary chemical offerings. CPI has a long history of delivering innovative solutions for its diverse client base, and this history aligns well with Merichem Technologies' goal of providing technologies across the entire sulfur spectrum."

CPI, based in Oklahoma City, was co-founded by the late Dr. Floyd Farha and has built a strong client base across the renewable fuels, biogas, downstream, midstream and industrial markets. Since inception, CPI has endeavored to formulate high-quality and environmentally friendly products for a variety of industrial applications.

CPI's industrial surfactants product lines were also part of the transaction, which includes the AQUA-CLEEN®, MICRO-CLEENtm, and DITHIAZOLVtm chemistries, among others.

About Merichem Technologies

Merichem Technologies is a global provider of sulfur treating solutions, including market-leading technologies such as LO-CAT®, FIBER FILM®, THIOLEX®, MERICAT®, MERICON®, and a suite of proprietary chemical catalysts. The Company's capabilities include design, engineering, fabrication, R&D, and implementation of adsorbents, chemicals, catalysts and mechanical solutions to treat sulfur and other impurities across many different industries and markets including landfill gas, odor control, CO₂ recovery, geothermal, renewable fuels, midstream oil & gas treating, and downstream. Merichem Technologies' reputation has been built over several decades, with mission critical applications across the globe. For more information, please visit www.merichemtech.com.

About Black Bay

Black Bay is a private equity firm that invests equity capital in partnership with entrepreneurial management teams who are building high-growth companies in the energy and chemical industries. Black Bay's strategy is to target companies with innovative products and services that help their clients to reduce costs, improve operations, and achieve sustainability initiatives. The firm's objective is to drive success through a relentless commitment to establishing and cultivating a true partnership with portfolio company management teams, and a belief that deeply rooted partnerships generate outsized returns by fostering collaboration and creativity. Black Bay is currently investing out of its second fund and has approximately $500+ million of assets under management. For more information, please visit www.blackbayenergy.com .