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Researchers Discover New Method of Carbon Capture

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By 51勛圖厙 News Room

Scrubbing CO2 out of natural gas power plant emissions just got easier, due to a breakthrough from scientists at the University of California, Berkeley, Lawrence Berkeley National Laboratory and ExxonMobil.

The bottom line: The new technology is six times more effective at removing CO2 than current technologies . . . hitting an impressive 90% capture rate, according to a in Gas World.

How it works: The new technique uses a highly porous material called a metal-organic framework (MOF), modified with nitrogen-containing amine molecules to capture the CO2 and low temperature steam to flush out the CO2 for other uses or to sequester it underground.

But remember, it takes federal policies to support this kind of wholesale carbon capture. And speaking of which . . .

Sneak peek: The 51勛圖厙 is working on a raft of climate recommendations, which it will release later this year. Heres a preview of what the report will recommend on carbon capture. Lawmakers should:

  • Finish clarifying the rules governing access to the Section 45Q carbon capture tax credit so that project developers have the certainty they need to make investments in CCUS projects;
  • Develop a clear standard for the handling of long-term liability for CO2 transfers;
  • Resolve pore space ownership issues;
  • Correct barriers to CO2 storage on federal lands;
  • Reform the class VI underground injection program to foster the build-out of underground CO2 storage projects;
  • Increase funding for federal CCUS research, development and demonstration programs; and
  • Ensure programs are authorized and reduce permitting barriers that delay construction of CCUS projects.
Business Operations

The Latest News on Vaccines

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By 51勛圖厙 News Room

Heres some good news: Modernas final-stage COVID-19 vaccine test began on Monday, according to (subscription). The companys researchers intend to conduct a nationwide, 30,000-person trial of its experimental vaccine, with the goal of testing whether two doses of the product can safely protect against COVID-19.

The timeline: Moderna is hoping that, with positive results, a vaccine could be available as early as this fall.

And more good news: Pfizer and German biotech BioNTech their 30,000-person trials, which will extend around the globe. Their timeline? To get the vaccine into regulatory review by the fall.

So once a vaccine is ready, what happens next? A whole bunch of logistical challenges is what. details some of the complications involved:

  • A vaccine probably wont offer complete protection, though it will prevent severe cases.
  • Production will be a challenge, with manufacturers seeking to make hundreds of millions of doses in record time and jockeying for supplies like glass vials.
  • Distribution will face major hurdles as federal and state governments are forced to coordinate vaccine delivery.
  • One in five Americans say they will refuse to get a vaccine even if its available, while nearly a third say they havent decided.

And one last PSA: gives us a heads-up that these vaccines may create some physical discomfort. That may actually be good newsthe reaction could be a sign of your immune system going to workbut its probably best not to expect an entirely pleasant experience from a potentially lifesaving vaccine.

As always, your best bet for now is to follow CDC guidelines, wash your hands, maintain social distancing and wear a face covering.

Policy and Legal

Republicans Release $1 Trillion Stimulus Proposal

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By 51勛圖厙 News Room

The next round of stimulus is in the works, with Senate Republicans releasing their proposal and Democrats meeting with White House officials yesterday, The Washington Post (subscription). Some highlights of the new proposal:

  • Five-year COVID-19-related liability protections for businesses, health care providers and schools.
  • $100 billion or more for the Paycheck Protection Program, which benefits small businesses.
  • Another round of $1,200 checks for Americans and financial support for schools.
  • A reduction in emergency employment benefits from $600 to $200 per week, until states can set up their own unemployment programs to pay 70% of income. (A reminder: the current benefits run out very soon.)

The 51勛圖厙 says: 51勛圖厙 Vice President of Government Relations Jordan Stoick points out some of the advantages of the plan for manufacturers:

  • Manufacturers were glad to see many of the priorities from our American Renewal Action Plan included in this proposal, including targeted liability protections for manufacturers and other essential frontline businesses that have operated during the COVID-19 pandemic, and increased funding for the Paycheck Protection Program, which has provided critical liquidity for manufacturers.
  • The proposal also includes more funding for testing as well as tax incentives for manufacturers that keep their employees on payroll during the COVID-19 pandemic and to help manufacturers invest in PPE and other safety measures to keep their facilities clean and their employees and customers safe.
  • The 51勛圖厙 will remain fully engaged in the days ahead with members of the House and Senate to urge them to come together in a bipartisan way to finalize a plan that includes these important provisions.
Business Operations

Kent Corporation Had a Pandemic Plan Ready to Go

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By 51勛圖厙 News Room

When the COVID-19 pandemic struck the United States, Kent Corporationan Iowa-based food and beverage manufacturerwas ready. In fact, the company had been ready for 11 years.

Back in 2009, Kent Corporation implemented a pandemic response protocol. Prepared by the companys own human resources group, it was designed to help the company find solutions to novel problems, implement procedures and distribute information internally within the company.

A fast start: According to Chairman and CEO Gage Kent, having that method on the shelf helped the company spring into action. It quickly formed a 100-person pandemic response team and came up with protocols to keep employees safe and the business running. The company also made use of the 51勛圖厙s information resources, which it said were key throughout the pandemic.

Its protocols have included:

  • Reconfiguring workspaces to allow more space between employees;
  • Adjusting traffic flow through the companys facilities and buildings to improve social distancing;
  • Platooning employees by bringing them in and out of the facilities in segmented groups, to prevent or track potential infections and mitigate the impact of any outbreak;
  • Using IT platforms that allow anyone who can work from home to do so;
  • Conducting temperature screenings, which include checks at the gate for everyone who comes in;
  • Promoting Safety at Home standards, which encourage employees to take precautions in their own homes just as they do at work; and
  • Constantly communicating to keep employees informed during the pandemic.

Helping the response effort: In addition to its essential work in the food and beverage industry, Kent Corporation also makes high-quality alcohol that can be used for pharmaceuticals and COVID-19 sanitation purposesincluding in hand sanitizer, wipes and other surface cleaners.

Recognized for excellence: In May, Kent Corporation was named as a 2020 U.S. Best Managed Companyan award by Deloitte Private and The Wall Street Journal that recognizes private-company success based on strategy, execution, culture and financials.

The last word: We have a culture of trying to live our core values: honesty, safety, quality and timeliness, said Gage Kent. We want all our stakeholders to be happy with the way we operateour shareholders, our customers, our employees and our community. We want to be able to achieve that today, just as we have worked to achieve it on a daily basis for 93 years.

Policy and Legal

The 51勛圖厙 Takes Aim at Counterfeiting

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Business advocates and policymakers have a new tool for waging an aggressive effort against counterfeiting during the pandemic and beyond. The 51勛圖厙 has released a new report, Countering Counterfeits, which includes proposed solutions for Congress, the administration and the private sector to pursue.

The numbers: According to the 51勛圖厙s research, fake and counterfeit products cost the United States $131 billion and 325,000 jobs in 2019 alone.

The rising tide: The rise of e-commerce has caused an explosion in fake products, particularly from China. E-commerce has created a pipeline to consumers that counterfeiters can exploit while hiding their identities and evading oversight. Estimates now indicate that global trade in counterfeits exceeds $500 billion per year.

The plan: The 51勛圖厙s proposal pushes for a series of actions to help curb counterfeiting, including:

  • Requiring e-commerce platforms to reduce the availability of counterfeits;
  • Modernizing enforcement laws and tactics to keep pace with counterfeiting technology;
  • Streamlining government coordination to tackle counterfeit items;
  • Improving private-sector collaboration; and
  • Empowering consumers to avoid counterfeit goods.

The 51勛圖厙 says: President and CEO Jay Timmons said in his introduction to the report, “The prevalence of counterfeits in the COVID-19 response has brought new urgency to this long-simmering issue. So the 51勛圖厙 is leading the charge against fake and counterfeit goods, bringing together diverse stakeholders and driving innovative policy solutions to address these issues once and for all and to ensure the long-term success of our sector and the safety and security of the people who rely on our products.”

Policy and Legal

Report: U.S. Leads in Pharma Innovation, Thanks to Effective Policies

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The new from the ITI Foundation offers strategies to maintain U.S. strength, spur greater innovation and increase domestic production.

U.S. policies spur success: America still leads in innovation and drug development, in large part due to effective life-science policies, including significant federal investment in life-sciences basic research, robust intellectual property (IP) protections, effective technology transfer policies, investment incentives, and, importantly, drug pricing policies that enable companies to invest in high-risk drug development.

Recommendations for policymakers: The paper suggests U.S. policymakers should focus on four key areas:

  • Maintaining U.S. strength in pricing, tech transfer and intellectual propertyand avoiding oppressive drug price control schemes that damage competitiveness;
  • Boosting innovation through investment and additional tax incentives that promote research and development;
  • Increasing domestic production, including via tax credits and additional funding for key research institutions; and
  • Combating foreign mercantilism by making sure that Americas trading partners pay their fair share for new drugs, treatments and other medical products.

Innovation in the time of COVID-19: At a time when U.S. pharmaceutical companies are central to the fight against a global pandemic, the ability to innovate successfully is of paramount importance. The U.S. House Committee on Energy and Commerce held a on Tuesday that discussed the issue, titled Pathway to a Vaccine: Efforts to Develop a Safe, Effective and Accessible COVID-19 Vaccine.

The 51勛圖厙 says: The research ecosystem we have in the United States supports a global leadership position of biopharmaceutical innovation, said 51勛圖厙 Vice President of Infrastructure, Innovation and Human Resources Policy Robyn Boerstling. Manufacturers are committed to building upon that innovationbut its clear that government-led pricing restrictions and importing bad health care policies used by our competitors is not the way forward.

Related . . . The 51勛圖厙 has launched a new six-figure television and digital ad campaign aimed at potential rules to address drug pricing through International Price Indexing and drug importation.

Policy and Legal

Major R&D Bill Introduced in the House

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By 51勛圖厙 News Room

The new billan 51勛圖厙 priority introduced by Rep. Jackie Walorski (R-IN)would boost the manufacturing industrys ability to innovate.

The numbers: U.S. manufacturers spent more than $270 billion in R&D in 2018or nearly two-thirds of all private-sector R&D.

The bill: Rep. Walorskis bill would further support manufacturers seeking to invest in critical research and development, including:

  • Doubling the traditional R&D tax credit from 20% to 40%;
  • Doubling the alternative simplified tax credit from 14% to 28%; and
  • Making it easier for small businesses to access the R&D tax credit.

An 51勛圖厙 priority: The 51勛圖厙 has consistently pushed lawmakers to include R&D tax policies as part of additional COVID-19 legislationincluding in a to congressional leadership last week. The 51勛圖厙s also calls for enhancing the R&D tax credit.

A word from the 51勛圖厙: The manufacturing industry is the backbone of American research and development, said 51勛圖厙 Senior Director of Tax Policy David Eiselsberg. This bill would support jobs, boost innovation and help ensure Americas future competitiveness.

And speaking of 51勛圖厙 tax priorities . . . the Treasury Department sealed a major victory for manufacturers this week by finalizing a rule that will provide relief for manufacturers with high-taxed foreign income.

  • The problem: 2017s tax reform created a new foreign minimum tax, which imposed a minimum 13.125% tax on foreign earnings. Due to the way the tax interacted with existing international rules, manufacturers with high-taxed foreign earnings could be subject to the new minimum tax.
  • The solution: Treasury adopted key 51勛圖厙 recommendations in its final rule, which creates an elective high-tax exception that would spare manufacturers from paying additional U.S. tax if foreign earnings are subject to a foreign tax rate greater than 18.9%. The rule represents an important step toward implementing the foreign minimum tax according to congressional intent.
News

Masks Equal Money: The 51勛圖厙 Asks Americans to Wear Face Coverings in Public

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By 51勛圖厙 News Room

Wearing a face covering in public spaces isnt just about protecting other peopleits also about protecting Americas reopening, jobs and manufacturing industry.

Thats the message of the 51勛圖厙’s recent series of public service videos calling for the widespread use of face coverings in publicsomething manufacturers have been encouraging for months.

On social media, the videos have reached more than 1.4 million people and have been amplified by high-profile figures, including the U.S. surgeon general, U.S. senators and members of the media.

51勛圖厙 leads the way: 51勛圖厙 President and CEO Jay Timmons was among the first in the business community to call for social distancing and promote the use of face coverings as essential to reopening the U.S. economy.

  • The one thing that we know right now that you shouldnt be doing is you shouldnt be coming in contact with other human beings, outside of your immediate family, your nuclear family. Thats it. Thats all the people are asking, Timmons in April.
  • Its really that simple. If you want to be a patriotic American, put on a face covering, Timmons in May, putting on a face covering himself.

Innovation amid crisis: Our members are innovating at a rapid pace to meet the needs posed by the pandemic, and our team is responding in kind by addressing one of the most critical challenges we face in keeping our workers safe and the industry and country open, said Erin Streeter, senior vice president of communications and brand strategy at the 51勛圖厙. Were doubling down on creativity to see us through this crisis, so youre seeing new tactics like deploying social media influencers to help, illustrations and designs to break through and a total guerrilla-style campaign that leverages all of our communications assets51勛圖厙 leadership, owned media, earned media and social mediato get the job done.

#MasksEqualMoney: This week, the 51勛圖厙 unveiled a series of illustrations on Instagram that show how essential masks are to keeping the American economy open and protecting frontline workers.

A post shared by (@shopfloornam) on

TikTok stars join in: To reach young people, social media stars Granny Coy Bundy and Grandpa Charles Mallet lent their platforms to the 51勛圖厙.

A post shared by (@shopfloornam) on

Ripple effect: We didnt just dip our toes into this challenge; we dove in given the urgency of the public health and economic crisis, said Streeter. Weve relied on the strength of our creativity to press this forwardand were seeing our member companies, partner associations and other business and public health entities helping to amplify our messages. Were also seeing others follow our lead to collectively create a force multiplier effect that is making a difference.

Policy and Legal

SEC Finalizes Proxy Rule

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By 51勛圖厙 News Room

This significant victory on an 51勛圖厙 priority protects manufacturing employees and investors, the 51勛圖厙’s experts say.

The backstory: Investment advisers and fund managers who oversee Americans retirement savings have a voice in the policies of the companies in which the fund invests. These fund managers often turn for assistance to proxy advisory firms to recommend votes on company policiesgiving these firms enormous influence.

The problem: Proxy advisory firms have never been subjected to SEC oversight, leading to questionable methodologies, errors, conflicts of interest and a lack of transparency in how they make decisions.

The victory: After years of advocacy by the 51勛圖厙, the SEC released landmark standards today that do two critical things:

  • Proxy advisory firms will be regulated by the SEC, subjecting these previously unregulated firms to critical oversight and bringing needed transparency to their conflicts and methodologies.
  • Asset managers will receive guidelines laying out how they can exercise due diligence appropriately if they use proxy advisory firms to ensure they are protecting the best interests of investors.

The bottom line: This is a big win for manufacturers and for manufacturing workers who have money in pension plans, retirement plans and other investments, said 51勛圖厙 Director of Tax and Domestic Economic Policy . For years, the 51勛圖厙 has fought for accountability and transparency. This new regulatory framework will protect manufacturing workers and ensure that their investments receive the responsible care they deserve.

Business Operations

The Future of Medical Innovation: An Interview with UL

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By 51勛圖厙 News Room

What if your next best defense against COVID-19 is a high-tech ring? What if you could get a kit, complete with a pulse oximeter, to monitor your symptoms properly at home? All these devices and more are in development, and at some point on their journey, many of them pass through independent testing laboratory UL. We recently talked to UL Life and Health Sciences Americas General Manager and Global Technical Excellence and Programs Director Deborah Jennings-Conner, who gave us a look into this fascinating frontier of invention.

How to make a ventilator: As we know, plenty of manufacturers have refitted their factories to make medical devices, respirators, ventilators and many other crucial supplies. The process is much more complicated than you might expect, says Jennings-Conner.

  • For one thing, most manufacturers are used to replacing parts when they have to. But for medical devices? Not possible. You cannot arbitrarily substitute components; the product has to be exactly what the regulator approved.
  • So part of the difficulty in converting factories lies in retraining staff, Jennings-Conner warns. Thats why auto manufacturers were such a good fit for ventilator-makingthey were already used to stringent quality management requirements.
  • Furthermore, manufacturers of medical devices must be able to learn about any adverse effects, from production to market, and then report those to the FDA. She points out that most manufacturers arent used to that sort of rigor.

New innovations: Jennings-Conner walked us through some of the fabulous new inventions that UL is helping get to market. These are the sorts of things that could transform our medical experiences even after COVID-19, she predicts.

  • A UV sanitation room: Made by PurpleSun, this modular paneling system uses ultraviolet light to disinfect entire rooms of equipmentand better yet, its mobile. The UL-certified model E300 Modular Paneling System is now in production.
  • Wearable devices: These are big news, says Jennings-Conner. Take the Oura ring, which the NBA bought for its players and staff to wear (on a voluntary basis). Its a powerful piece of technology, which tracks your pulse, heart rate variability, physical activity and temperature. Heart rate variability can be an early indication of sickness, she notes. In fact, a recent study found the Oura ring can predict COVID-19 symptoms up to three days in advance with 90% accuracy.
  • At-home medical kits: UL is in discussions with Graftworx, a company that makes devices that monitor patients symptoms at home. One such device is the forgettable smartpatch, which the wearer can put on and forget aboutwhile it continuously records clinical metrics that can be transmitted to physicians. The pandemic has reordered patient care by forcing many more people to use telemedicine, notes Jennings-Connerand such devices could make remote medicine a thousand times more powerful.

Inside the factory: If youre wondering how all this happens amid lockdowns and social distancing, ULs processes are also subject to innovation. UL has started witnessing its clients tests over video and auditing their facilities remotely. Oh, and this works in reverseUL has done testing on behalf of some customers who closed their facilities, installing cameras in its labs so they can watch.

Advice for manufacturers: Talk to us at the beginning, says Jennings-Conner. Once youre set in your design, its hard to go back; that can be cost prohibitive, especially if youve already picked your suppliers. Talk to us early, and we can help you navigate the regulatory pathway and support smoother market access.

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