Neste has completed a strategic study it launched in September 2022 and is now beginning a gradual transformation of its crude oil refinery in Porvoo, Finland, into a “renewable and circular solutions refining hub”. This will take place in phases and is expected to be complete in the mid-2030s at a cost of around €2.5 billion.
Akaam Shamerany from Quantum Boost unveils a transformative chemical and material development approach
Korea’s Samyang Holdings has acquired Verdant Specialty Solutions from private equity firm OpenGate Capital for about $250 million. Texas-based Verdant mainly makes amphoteric surfactants for personal care products, plus non-ionic surfactants for industrial applications. It has revenues of about $210 million/year, and employs some 300 in the US, the UK and Germany.
Danish enzymes and ingredients firms Novozymes and Chr. Hansen have announced that their post-merger name will be Novonesis. This is derived from the Latin word for ‘new’ that is already in Novozymes’ name and the Green for ‘origin’ or ‘beginning’, to acknowledge the role Ancient Greek thinkers played in the development of science.
Following a public consultation, the US Environmental Protection Agency (EPA) is beginning a 12-month process to prioritise five additional toxic chemicals for risk evaluation under the Toxic Substances Control Act (TSCA). Should they be designated as high priority substances, as expected, risk evaluations will then begin.
Amsterdam-based Corbion, which specialises in lactic acid and derivatives, food preservation, functional blends and algae ingredients, has become the latest speciality chemical company to come under pressure from an ‘activist shareholder’ to change its strategy.
Checks on various consumer products in 26 European Economic Area (EEA) countries found that 18% of them contained excessive levels of hazardous chemicals, ECHA has revealed. This was carried out in late 2022 as an EU-wide enforcement project related to the ECHA Enforcement Forum.
