Evonik has revealed that it aims to generate at least €1 billion/year in additional sales a year from circular products and technologies, both in its own processes and support its customers in the transition to circular applications. The company’s strategy in this arena is based on multiple initiatives in which it claims that it is already contributing to the circular economy, notably:

* Further strengthening its activities in additives and specialities for the circular economy

* Making greater use of raw materials based on recycled materials, biomass and CO₂

IFP Energies Nouvelles (IFPEN) and ResiCare, a Michelin Group operation, have co-developed a process for producing the platform molecule 5-hydroxymethylfurfural (5-HMF) from plant-based fructose using homogeneous catalysis. This follows ten years of laboratory research and joint industrial-scale work since the end of 2021.

Japanese petrochemicals firm Inpex has made an unspecified investment in OCOchem, a US-based start-up that has developed technology to produce green formic acid and potassium formate from CO₂ and water “cleanly and at low cost”, using electrochemical methods powered by renewable energy.

Inpex added that it will support OCOchem’s business development with the aim of linking its technologies to its own activities. The company is promoting CO₂ reduction in upstream projects, while development of hydrogen projects and carbon recycling.

Ben Beattie of Forbeats discusses the challenges that using chemical containers poses to companies and explore the best approaches to ensuring safety

Many industries often need to re-pack chemicals into smaller amounts. This means moving them from a large container to several smaller ones. When this happens, it is crucial that every smaller container is as safe as the large one. T

Saudi firm Chemanol has signed a share purchase agreement to acquire an 84% stake in Addar Chemicals for $12.3 million in cash. This is contingent on meeting predefined performance indicators and achieving a targeted return on investment. The transaction is due to be completed on 31 March 2024.

CDMO Cambrex has sold its Drug Product business unit to Noramco. Terms were not disclosed. The business comprises product development, clinical and commercial manufacturing and packaging from facilities in Mirabel, Québec, and Whippany, New Jersey.

CEO Thomas Loewald described this as “the result of a strategic decision to focus on core areas of growth and investment”. The company will henceforth prioritise its drug substance and analytical testing businesses, which are based across 13 sites worldwide, including the recently acquired Snapdragon Chemistry and Q1 Scientific.

Solvay has published materials for an extraordinary shareholders’ meeting, including details of the executive leadership nominations for when it splits into two firms. The meeting will be held in Brussels on 8 December for shareholders to approve the split, which has been unanimously recommend by the board and the executive leadership.