Business conference

BP aims to sell the German Petrochimical Unit

The BP is pursuing other petrochimical manufacturers that are reducing operations in Europe by placing its Ruhr Oel unit, which operates a refinery and Petrochemical complex in Gelsenkirchen, Germany, for sale. The refinery has 12 million tons of metric (T) per year of the processing of raw oil. The site also includes a cracker with a capacity of 1.1 million t ethylene per year, according to the trade group Petrochimics Europe; Cracker supplies polyethylene and polypropylene plant materials that Sabic operates on the site. BP employs more than 2,000 people there. “BP has to constantly manage its global portfolio as we position us to grow as a simpler, more concentrated, higher value company,” says Emma Delaney, the executive vice president of the firm of clients and products, says a statement . Over the past year, many chemical firms have announced plans to sell, sew or review European petrochemical operations, including Exxonmobil, Sabic, Lyondellbasell Industries, and Eni. – Alex brull

Woodside Puza green h₂ PROJECT

The Woodside Energy Natural Gas firm has been waiting for a 200 mw green hydrogen project in Oklahoma. The plant, called H2OK, would be able to produce up to 60 tons of h metrics₂ per day using electrolysis powered by renewable energy. Woodside completed the engineering and design of the plant in 2022 and selected Nel and Air Liquids to provide electrolysis and liquid equipment, respectively. Woodside says it can continue with the project later if it can provide binding agreement and improve the projected margin of factory profit. The firm says it will prioritize a low-carbon ammonia factory under construction in Beaumont, Texas, which bought from Global OCI last year for $ 2.4 billion.-Craig Bettenhausen

France offers $ 500 million for recyclars

The French government plans to offer more than $ 500 million in incentives to support the recycling of items, such as trays, movies, bottles without carriers and textiles, containing polyethylene (PET). Direct grants will cover up to 40% of the investment recycling cost. By weighing the plan, the European Commission says incentives are needed, “as beneficiaries would not make relevant investments without public support.” Two firms, Carbios and Eastman Chemical, plan recycling plants in France that will depolimize PET. Carbios recently delayed his project due to the difficulty in receiving funding. – Alex brull

Firms join for hair care proteins

Chemical specialty manufacturer Syensqo has signed a 5-year partnership with the synthetic firm of Biology World Bio to develop biomimetic ingredients for hair and scalp care products. Companies say the deal complies with the world’s custom protein fermentation technology with the growing Emphasis of Syrensqo on head care, part of a tendency throughout the industry towards head care integration into hair care regimes. A press release notifying the deal quotes hair repair and improved hair growth as target functions for the ingredients. – Craig Bettenhausen

ERITION Liberation Laborators raises money for fermentation

Liberation Labs has raised $ 32 million to complete the construction of a Bioman production factory in Richmond, Indiana. The facility will have 600,000 L of fermentation capacity and connected equipment at the bottom of the processing. Liberation plans to provide the object based on a contract to clients seeking to produce a variety of biobase materials. The company also received a US Department of Defense Award to explore the feasibility of a contract fermentation facility 4 million L in the same site. – Matt Blois

Novonesis to take over the food enterprise

The Danish Firm of Biotechnology Novonesis will spend $ 1.6 billion to buy the DSM-Firmenich share of a common animal feed enzyme enterprise that they created more than 25 years ago. Firms say the DSM-Firmonich strategy involves the removal of animal feed components, while Novonesis is focusing on those products. The part of the DSM-Firmenich venture reported sales of $ 311 million last year. The firm announced plans to share and sell its overall animal food business in February 2024 and is now looking for buyers. – Matt Blois

Fujifilm to add CMP slurries to Belgium

Fujifilm says it will spend about $ 25 million to build a structure in Antwerp, Belgium, which produces the chemical slurries of mechanical planarization (cmp) used to soften the chip features during the production of the semiconductor. Fujifilm expects an annual growth rate of 13% for slurries. The Japanese company says the project, which also includes investments in photolography -related materials, is part of a $ 1.1 billion program to increase the production of materials used to fabricate computer chips. It is already expanding the production of the photoistist in Japan and South Korea and the dilution production of CMP in Japan. – Michael McCoy

Axplora to increase drug production for weight loss

Axplora, a German drug service firm, plans a $ 50 million investment in its Mourenx site, France, to make Peptide 1 (GLP-1) agonists similar to glucagon (GLP-1). Company, and others. Axplora, which has 10 drug components globally, was created in 2022 through the union of Novasep and Pharmazell. The investment will be used to build new facilities for the production and cleaning of peptides in the French site. Axplora says it expects GLP-1 supplies from the plant in 2026. -Aayushi Pratap

Partnership aims at enzymatic catalysis

Chemical technology provider Thyssenkrupp and Novonesis enzyme manufacturer have begun a technological package for companies seeking to perform esterification reactions using enzyme catalysts than traditional chemical catalysts. Esterification is often used to convert natural fatty acids into the respective esters. Partners say access can save significant amounts of energy, minimize side reactions and reduce waste. – Michael McCoy

Novartis will buy Anthos for $ 925 million

The Swiss drug firm Novartis has agreed to get a company with which it has joined. Novartis will buy Anthos Therapeutics, a Boston -based biotech focused on cardiac conditions, for a $ 925 million front payment. Anthos was founded in 2019 by Novartis and the Firm of Private Capital Blackstone Science Life. His most advanced drug candidate, Ablacimab, is a monoclonal antibody created to prevent strokes and conditions related to blood clots. As part of the deal, Novartis will also pay Anthos up to $ 2.15 billion in regulatory and sales milestones. – Aayushi Pratap

Maxona releases with pain drug candidate

Maxona Pharmaceuticals has begun stealthily after completing a clinical test of phase 1 for its nonopioid pain drug candidate, Max-001, whose active ingredient is nephopamous. The complex has been approved to treat pain in some countries, including the United Kingdom and France, but has not been approved by the US Food and Drug Administration or the European Drug Agency. Pennsylvania-based company has not revealed how many funds it has collected, it only closed an AA series in 2021 and a series B “Lately”.

Roche sells intermune for undetected amount

A decade after buying the intermune biotech of RRA diseases at $ 8.3 billion, Roche has sold it to Legacy Pharma, a specialty pharmaceutical company, for a very undisclosed. Purchase comes after sales of intermune idiopathic pulmonary fibrosis drug, Esbriet, scratched due to a generic competitor that began in 2022. Esbriet sales were about $ 221 million in 2023, from about $ 1.1 billion 2 years ago, According to ROCHE’s annual financial reports. —Rowan Walrath

Greenlight BiosciencesA Boobase pesticide company has received a $ 36 million loan from the European Investment Bank. The company will use the loan to develop pesticides of RNA intervention for crops in Europe.

SvanteIt will receive up to $ 1.5 million from the US Energy Department for a first -scale, commercial scale carbon capture structure to be installed in a pulp mill in Ashdown, Arkansas. Cost sharing grant will support engineering and design work.

Bioxol A Belgian pesticide company Biobaza has provided about $ 4.4 million in funding, increasing its total fundraising to about $ 10 million. Biocsol, a 2023 spinoff from Ucouvain, says he will use money for R&D and demonstrate evidence of the concept of its first two biofungicides.

Chemical And the Braconics Syzygy have completed the installation and testing of an electric ammonia cracking system in Ulsan, South Korea. The unit reached 290 kg per day of hydrogen production, thereby demonstrating the efficiency of ammonia as a hydrogen carrier.

Snapper It will provide an electrolyzer 100 MW system in BP for a green hydrogen project in Germany. The site is expected to produce 11,000 tons of hydrogen metric per year when it begins in 2027.

Biogenic It will receive up to $ 250 million from Royalty Pharma for R&D in the Lupus Litifilimab drug candidate in exchange for regulatory moments and royalties on sale if lithifilimab is approved. Lithifilimab is in stage 3 clinical evidence for the treatment of two forms of lupus.

Johnson Matthey It is collaborating with the supplier of Bosch automobile components for future projects. As part of the partnership, the membranes coated with Matthey catalyst will be used in Bosch fuel cell modules for long -distance trading vehicles.

Pfizer And alloy therapists have formed a new pact to develop technology to detect antibodies that can drug derogates difficult objectives. Alloy says Pfizer has used its antibody detection technology for many years.