Chevron Corporation and Renewable Energy Group, Inc. announced yesterday a definitive agreement under which Chevron will acquire the outstanding shares of REG in an all-cash transaction valued at $3.15 billion, or $61.50 per share. The acquisition combines REG’s growing renewable fuels production and leading feedstock capabilities with Chevron’s large manufacturing, distribution and commercial marketing position.
Stora Enso and Picadeli, Europe’s leading take-away salad bar company, are introducing renewable formed fiber lids to replace single-use plastics in take-away packaging. The lids are made of PureFiber™ by Stora Enso, and they are plastic-free, recyclable, and biodegradable. The innovation will help Picadeli reduce approximately 120 tonnes of plastic waste annually.
The European Circular Bioeconomy Fund (ECBF) is oversubscribed with a total of approximately €300 million (targeted initially 250). With the final closing of the subscription, the international team of the ECBF was able to gain the trust of further investors for the implementation of its mission.
Versalis, Eni’s chemical company, has begun the production of bioethanol from lignocellulosic biomass at Crescentino (Vercelli, North-western Italy). The plant, which was acquired in 2018, has been overhauled thanks to major investments and has started the production of advanced bioethanol, in compliance with the European legislation for the development of renewable energy RED II, as it is derived from raw materials that do not interfere with the food chain.
French company Global Bioenergies has developed a process for converting plant resources into isobutene, one of the main building blocks of chemistry, whose derivatives are used in cosmetics, fine chemicals, commodities and fuels. A production unit is currently under construction in Pomacle to serve high value-added markets.
German specialty chemicals company Lanxess, and Matrìca, Italian JV between Versalis (Eni) and Novamont, have partnered to produce sustainable biocide preservatives from renewable raw materials. The Matrìca plant at Porto Torres (Sardinia) will supply Lanxess with bio-based raw materials from vegetable oils, which Lanxess will use to manufacture a new series of industrial preservatives broadening its Preventol range.
DSM, a global purpose-led science-based company, completed its acquisition of Vestkorn Milling for an enterprise value of €65 million. This acquisition of one of Europe’s leading producers of pea- and bean-derived ingredients for plant-based protein products was first announced on 29 November 2021.
Anellotech and South Hampton Resources, Inc., a subsidiary of Trecora Resources, renewed their agreement for SHR to serve as site host and provide operations services for Anellotech’s TCat-8TM process development pilot plant, which is located inside of SHR’s Silsbee, Texas production plant. SHR owns and operates a 128-acre specialty petrochemicals facility at the Silsbee site, specializing in high purity hydrocarbons. The company originally began its site hosting relationship with Anellotech in 2016 with Anellotech’s development of its Bio-TCat process for producing petrochemicals from wood.
The original services agreement between Anellotech and SHR allowed Anellotech to install and then operate the TCat-8 unit inside the SHR plant.
In response to rapid growth in the market for sustainable biomaterials, NatureWorks is going to open a new headquarters and advanced biopolymer research facility in Plymouth, Minnesota. Expanded laboratory capabilities will support research into the full circular lifecyle of Ingeo biopolymers from next generation fermentation technology to new applications, to increased functionality.
Material manufacturer Covestro and biotechnology pioneer Genomatica announced an important industry milestone to advance sustainability resulting from their partnership. The two companies have teamed to be the first to successfully produce significant volumes of a plant-based version of the chemical raw material HMDA (hexamethylenediamine).
IL BIOECONOMISTA 