Ascensus Specialties, a provider of speciality materials for life sciences and advanced technology, has followed up on previous acquisitions by buying fine chemicals manufacturer Wychem from private equity firm Aurelius, which had acquired it in 2016. The company employs 25 people at its site in the UK.
Karan Chechi of ChemAnalyst looks at why demand is growing for a key alternative to agrochemicals
Agrochemicals such as pesticides, fertilisers and plant growth enhancers have played a crucial role over the last century. They allowed agricultural productivity to keep up with population growth and saved billions from starvation.
Draslovka, a specialist in cyanide chemistry based in the Czech Republic, has completed the previously announced acquisition of Chemours’s Mining Solutions business for $521 million. However, its proposed acquisition of Sasol’s sodium cyanide business has been blocked by the South African competition authorities.
Subject to final agreements and customary conditions, including regulatory approvals, Umicore and Volkswagen will establish a joint venture in precursor and cathode material production in Europe. This will begin in 2025 with initial production of 20 GWh/year for the plant in Salzgitter, Germany, and should grow to 160 GWh/year by 2030, enough to power about 2.2 million full electric vehicles.
Ineos subsidiary Inovyn has become the world’s first commercial producer of bio-attributed epichlorohydrin from renewable feedstock. Branded Reodrin, this is made at a site in Tavaux, France. Applications are expected in sectors including composites for wind turbines, wastewater treatment and lightweight coatings for electric vehicles.
The UK’s Department for Environment, Food & Rural Affairs (Defra) has announced that it has committed to “exploring alternative arrangements for UK REACH transitional registrations … in order to support chemical businesses whilst upholding the highest standards to safeguard public health and the environment”.
Through its own venture capital fund of Solvay Ventures, Solvay has made an unspecified investment in US-based DMC (Dynamic Metabolic Control) Biotechnologies. The $34-million Series B funding round also included Cibus Enterprise, Capricorn Partners, Sofinnova Partners, Breakthrough Energy Ventures, SCG, Boulder Ventures and Michelin.
