HEXPOL has signed an agreement to acquire 70% of the shares in almaak from the existing owners Mr. Olaf Eichstädt and Mr. Thomas Schmeinta. almaak is a specialist in high quality recycled engineered polymer compounds based in Germany. The acquisition is fully in line with the HEXPOL´s M&A strategy with desired growth in thermoplastic compounding … Read more
Hy2gen AG, the green hydrogen investment platform, announced the successful completion of a €200 million, investment round. The capital will be used for the construction of facilities in several geographies including Europe, producing green hydrogen-based fuels – or “e-fuels” – for maritime and ground transport, aviation and industrial applications. The investment, which is the largest … Read more
BASF decided to build a new hexamethylene diamine (HMD) plant in Chalampé, France. The new plant is set to increase BASF’s annual HMD production capacity to 260,000 metric tons. Production is expected to start in 2024. Furthermore, BASF will expand its polyamide 6.6 (Nylon-6,6) production in Freiburg, Germany starting 2022. The planned investments will further … Read more
Eastman Board Chair and CEO Mark Costa, French President Emmanuel Macron jointly announced Eastman’s plan to invest up to $1 billion in a material-to-material molecular recycling facility in France. This facility would use Eastman’s polyester renewal technology to recycle up to 160,000 metric tonnes annually of hard-to-recycle plastic waste that is currently being incinerated. The … Read more
Maire Tecnimont S.p.A. announces that its subsidiary Tecnimont S.p.A. has been awarded an Engineering, Procurement and Construction (EPC) contract by Covestro for a new aniline plant in Antwerp, Belgium. Covestro is one of the world’s leading polymer companies, focusing on the manufacturing of high-tech polymer materials and the development of innovative, sustainable solutions for products … Read more
The Heubach Group and SK Capital Partners announced the completion of the acquisition of Clariant’s Global Colorants Business. The combined business will operate under the Heubach brand, creating a global pigment technology and industry leader. The newly combined Heubach Group is a leading global provider of comprehensive color solutions, supplying a broad portfolio of organic, … Read more
Novatek and Uniper signed a term sheet on the long-term supply of large volumes of low-carbon ammonia. These supplies will be delivered to Uniper’s markets in Germany and North-West Europe. Novatek is developing a major low-carbon ammonia production facility on the Yamal Peninsula in northwestern Siberia, making use of the vast local gas reserves. Carbon … Read more
The European Commission has approved, under EU State aid rules, a €900 million ($1 billion) German scheme to support investments in the production of renewable hydrogen in non-EU countries, which will be then imported and sold in the EU. The scheme, called ‘H2Global’, aims at meeting the EU demand for renewable hydrogen that is expected … Read more
Norway’s Equinor said that it collaberated with France’s Engie to develop a project designed to produce low-carbon hydrogen from natural gas in Belgium. The announcement of the H2BE project — which aims to produce hydrogen from natural gas using autothermal reforming (ATR) combined with carbon capture and storage (CCS) — follows a memorandum of understanding … Read more
Chemicals producer Borealis AG delayed the start of a plastics plant in Belgium, its biggest investment in Europe, citing Covid-19. The plant in Kallo in the port of Antwerp will begin production in the third quarter of 2023, the company said in an email. It had previously targeted starting operations by the end of next … Read more
BASF said it will strengthen its focus on battery materials and recycling and will establish a separate mobile emissions catalyst, automotive catalysts recycling and associated precious metal services entity. The new entity will be named BASF Automotive Catalysts and Recycling. The move came keeping in view with the automotive industry’s shift toward electromobility. The new … Read more
Tata Chemicals Ltd. is in discussions with London-based Johnson Matthey Plc to buy the company’s battery materials business, the Mint news reported, citing two people with direct knowledge. Tata Chemicals is one of the frontrunners to acquire the assets, the two people told the Indian news daily. A deal for the battery materials unit could … Read more
INEOS Styrolution, the global leader in styrenics, has confirmed its decision to invest into a pilot plant for advanced recycling of polystyrene. The site will be set up in collaboration with Recycling Technologies in Swindon, UK. It is expected to be operational in the second half of 2022. The decision announced today is a significant … Read more
Gazprom’s Board of Directors approved a pilot project for hydrogen production in the Russian Federation. The company highlighted that the development of hydrogen energy in Russia is essential both for the decarbonization of the domestic industry and for exports to the global hydrogen market. This line of activity is becoming increasingly relevant in the context … Read more
Westlake Chemical Corporation announced that it has entered into a definitive agreement with Hexion Inc. to acquire Hexion’s global epoxy business for approximately $1.2 billion. The deal is anticipated to be completed in the first half of 2022 following customary closing conditions. With this transaction, Westlake will significantly expand its integrated business by adding a … Read more
Sika has signed a definitive agreement to acquire MBCC Group, the former BASF Construction Chemicals, from an affiliate of Lone Star Funds, a global private equity firm, for a consideration of around EUR 5.2 billion ($6 billion). MBCC Group is a leading supplier in construction chemicals worldwide. Headquartered in Mannheim, Germany, the group has 7,500 … Read more
French industrial gas manufacturer, Air Liquide increased its total stake in H2V Normandy to 100%, of which it previously held 40%. Renamed Air Liquide Normand’Hy, this company aims to build a large-scale electrolyzer of at least 200 MW for the production of renewable hydrogen in France. This strategic investment will support the development of a … Read more
Repsol announced its hydrogen strategy up to 2030, with the aim of becoming the market leader in the Iberian Peninsula and positioning the company as a relevant producer in Europe. The company has announced investments in the entire hydrogen value chain that will reach €2.549 billion ($2.97 billion) by 2030. Renewable hydrogen is one of … Read more
INEOS announced Monday it was investing more than €2 billion ($2.3 billion) into electrolysis projects to make zero carbon, green hydrogen across Europe. The company intends to build its first plants in Norway, Germany and Belgium over the next 10 years, with investment also planned for plants in the UK and France. INEOS, through its … Read more
Energy companies Octopus Energy and Renewable Energy Systems have joined forces to spend 3 billion pounds ($4.1 billion) by 2030 to build hydrogen plants across the U.K. Octopus Renewables, part of the generation arm of the renewable energy retailer, and renewables developer RES will combine their expertise and capital to develop, own and operate the … Read more