Quotient Sciences is to invest £6.3 million to expand drug substance manufacturing at the site in Alnwick, UK, which it acquired along with Arcinova in February. This will also create 80 new jobs over the next three years and boost its capacity to develop complex medicines tenfold.
Researchers from Sasol and the Catalysis Institute at the University of Cape Town (UCT) have announced advances in the use of commercial iron catalyst in CO2 hydrogenation at rates above 40%. This produces ethylene and light olefins, which can be used as chemical feedstocks and in jet fuel much more cheaply and efficiently than cobalt catalysts.
ICL has concluded a five-year €250 million ‘sustainability-linked loan’ from syndicate of five global lenders at 0.8%/year interest. It is the first company in Israel to do so. This is part of its sustainability efforts and includes three performance targets.
ICL will seek to achieve a 4-5% reduction in direct and indirect Scope 1 and Scope 2 CO2 emissions resulting from global operations. Third party monitoring will begin in the 2021 fiscal year, in accordance with the accounting and reporting standards published by the GHG Protocol.
Libra Speciality Chemicals of Irlam, UK, which makes and blends active ingredients for home and personal care, has invested £3.5 million in a new plant to manufacture the new low-salt betaines it has developed. This will also increases the site’s total betaine capacity by around two thirds and double the firm’s size.
Orion Engineered Carbons has begun construction of its second plant in China for speciality and high-performance carbon black at Huaibei in Anhui province. This complements an existing plant in Qingdao, which opened in 1994, and another in South Korea.
The new plant is expected to be completed late next year and to begin operating in 2023. It will have 65,000-70,000 tonnes/year of capacity. Orion will equip the plant to convert its waste heat to steam for sale to the local industrial park.
Eurazeo has announced that it has entered into exclusive discussions to sell its stake in French-based CDMO Seqens to funds advised by SK Capital Partners and its existing French shareholders, Mérieux Equity Partners.
Seqens commented that SK Capital’s involvement could enhance its position in the production of APIs, pharmaceutical intermediates and speciality ingredients. SK has already owned API manufacturer Wavelength Pharmaceuticals since 2017.
Lanxess has signed a corresponding agreement to acquire the microbial control business of International Flavors & Fragrances (IFF) for $1.3 billion or 9.6x EBITA. The deal should be completed in Q2 2022, following a carve-out process and subject to regulatory approvals. This is the firm’s second largest ever buy, just ahead of the recently completed acquisition of Emerald Kalama.
