Solvay has launched a fourth growth platform, complementing existing ones in battery materials, green hydrogen and thermoplastic composites. This will focus on developing sustainable products for multiple markets using renewable feedstocks and biotechnology.
Solvay has launched a growth platform focused on renewable materials and biotechnology, complementing existing ones in battery materials, green hydrogen and thermoplastic composites. This will focus on developing sustainable products for multiple markets using renewable feedstocks and biotechnology.
“The new platform will bring together several Solvay businesses to help meet growing demand for sustainable solutions by increasing the share of renewable carbon in Solvay’s product offering and developing new business opportunities enabled by biotechnology,” the company stated. I
Following on from the examples of other major chemicals companies, such as Bayer and DuPont, Solvay is reviewing plans to separate into two independent publicly traded companies. The process is expected to be completed in 2H 2023.
The company said that the separation “would establish two strong industry leaders that would benefit from the strategic and financial flexibility to focus on their distinctive business models, market and stakeholder priorities”.
Clariant, Solvay, Chemours and Novozymes have all announced plans to suspend business with Russia in response to the invasion of Ukraine. They have all also pledged support for employees in the affected countries and made donations to support relief operations.
Clariant suspended operations with immediate effect. CEO Conrad Keijzer said: “Continuing to do business under these circumstances is incompatible with our purpose and values”. The company has a sales office and a laboratory in Moscow, which contribute about 2% of its sales. It also employs 146 people in Ukraine.
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.
Ten major global chemical sector companies have agreed with the World Economic Forum (WEF) to establish what they called “a breakthrough, pre-competitive development platform to accelerate net-zero climate technologies”. They are BASF, Dow, DSM, Solvay, Clariant, Covestro, Mitsubishi Chemical, Air Liquide, Sabic and Sibur.
Univar Solutions has reached an agreement to serve as Solvay’s first distribution partner for the agrochemical market in Brazil. This covers agrochemical defensives, adjuvants and fertilisers. It is the first time Solvay has named a distributor for this market in the country.