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Latest News: Business

Eastman selects Longview, Texas as site for new molecular-recycling facility

Eastman Chemical Co. (Kingsport, Tenn.) announced that its second U.S. molecular recycling project has been selected by the Department of Energy (DOE) to begin award negotiations for up to $375 million in Bipartisan Infrastructure Law and Inflation Reduction Act funding…

JERA and ExxonMobil to develop low-carbon hydrogen and ammonia project in the U.S.

JERA Co., Inc. (Tokyo) has reached a Project Framework Agreement with ExxonMobil Corp. (Houston) to jointly explore the development of a low-carbon hydrogen and ammonia production project in the United States. ExxonMobil is currently developing what is expected to be…

ABB and Captimise to collaborate on decarbonization technologies for the cement industry

ABB, Inc. (Zurich, Switzerland) and carbon-capture specialist Captimise are extending their collaboration to drive the adoption of cost-effective carbon capture, utilization and storage (CCUS) technologies in the cement industry. Under a Memorandum of Understanding (MoU), the two companies will develop…

Dow announces new production facility for carbonate solvents on U.S. Gulf Coast

Dow (Midland, Mich.) announced the intent to invest in ethylene derivatives capacity on the U.S. Gulf Coast, including the production of carbonate solvents, critical components to the supply chain of lithium-ion batteries. This investment supports growth in domestic electric vehicle…

AtkinsRéalis awarded FEED contract for proposed green-hydrogen hub in Quebec

AtkinsRéalis (SNC-Lavalin Group Inc.) has been awarded a contract by TESCanada H2 Inc. ("TESCanada") to provide front end engineering and design services for their Projet Mauricie green hydrogen hub in Quebec. "Energy secure and affordable Net Zero grids will be…

Hyaxiom and Doosan Fuel Cell announce milestone in SOFC technology for maritime use

Leading global fuel cell and hydrogen solutions providers HyAxiom, Inc. (HyAxiom) and Doosan Fuel Cell Ltd. (DFCC) announced today their Solid Oxide Fuel Cell (SOFC) cell stack has passed a critical environmental test by Det Norske Veritas (DNV), the classification society…

Koch Modular to significantly expand pilot plant in Houston

Koch Modular Process Systems (Koch Modular)  announced the expansion of its Houston, TX pilot plant. The expansion will improve Koch Modular's analytical lab and testing capabilities to address customers' demand in industries spanning Chemical, Pharmaceutical, Petrochemical, Biotech, Food, Flavor and…

Johnson Matthey to sell its Medical Devices business for $700 million

Johnson Matthey Plc (JM; London) announced that it has signed a definitive agreement to sell 100% of its Medical Device Components business (MDC) to Montagu Private Equity (Montagu) for cash consideration of US$700 million (£550 million) on a cash free…

Lonza acquires biologics manufacturing plant in California from Roche

Lonza AG (Basel, Switzerland) announced it has signed an agreement to acquire the Genentech large-scale biologics manufacturing site in Vacaville, Calif. from Roche (Basel, Switzerland) for $1.2 billion. The acquisition will significantly increase Lonza’s large-scale biologics manufacturing capacity to meet…

BASF breaks ground on new fermentation plant in Ludwigshafen

BASF SE (Ludwigshafen, Germany) held a groundbreaking ceremony in Ludwigshafen for its new fermentation plant for crop protection products. The plant is expected to go into operation in the second half of 2025 and will manufacture biological fungicides and biological…