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Latest News: Business

Australia unveils national network of hydrogen-technology clusters

A network of regional hydrogen technology clusters has today been unveiled across Australia, as part of a drive to establish a nationwide hydrogen cluster. Spearheaded by National Energy Resources Australia (NERA), the national cluster (which would operate as a virtual…

Volkswagen Group Components commences battery-recycling pilot

Volkswagen Group Components opened the Group’s first plant for recycling electric car batteries in Salzgitter, Germany. As pilot operation commences, the Volkswagen Group takes another committed step towards sustainable end-to-end responsibility for the entire value chain of the electric vehicle…

Lukoil commissions high-viscosity oils plant at Volgogad Refinery complex

Lukoil (Moscow, Russia) has commissioned a new production complex at its Volgograd Refinery. Presidential Plenipotentiary Envoy to the Southern Federal District Vladimir Ustinov, Russian Minister of Energy Nikolai Shulginov, Governor of the Volgograd region Andrei Bocharov and President of LUKOIL…

Stepan acquires Invista’s aromatic polyester polyol business

Stepan Co. (Northfield, Ill.) announced that it has purchased Invista's (Wichita, Kan.) aromatic polyester polyol business and associated assets.  Included in the transaction are two manufacturing sites, one in Wilmington, NC (United States) and the other in Vlissingen (the Netherlands), and…

Eastman Chemical to build world-scale molecular-recycling facility

Eastman Chemical Co. (Kingsport, Tenn.) CEO Mark Costa and Tennessee Governor Bill Lee announced the company's plans to build one of the world's largest plastic-to-plastic molecular recycling facilities at its site in Kingsport, Tenn. Through methanolysis, this world-scale facility will…

UPM begins basic engineering work for 500,000-ton biorefinery

UPM Group (Helsinki Finland) is moving forward with its biofuels growth plans and starting the basic engineering phase of a next-generation biorefinery. The potential biorefinery would have an annual capacity of 500,000 metric tons per year (m.t./yr) of high-quality renewable…

Valmet to provide major process equipment for Renewcell textile-recycling plant in Sweden

Renewcell and Valmet Oyj (Espoo, Finland) have signed a contract for Valmet to deliver the main equipment for Renewcell’s planned 60,000 metric-ton capacity textile recycling plant at Ortviken industrial site in Sundsvall, Sweden. This is a major milestone in the…

ArcelorMittal and Vow ASA announce plans to build a biogas plant in Luxembourg

Specialist provider of technology for decarbonizing industry Vow ASA (Oslo, Norway) confirms that it has signed a strategic memorandum of understanding with ArcelorMittal (Luxembourg) to work on a project to build a biogas production plant that will reduce CO2 emissions…

U.S. specialty chemical markets expand in December, ACC says

U.S. specialty chemicals market volumes expanded by 1.2% in December following an upwardly-revised 0.6% gain in November, according to the American Chemistry Council (ACC; Washington, D.C.; www.americanchemistry.com). Of the 28 specialty chemical segments monitored by ACC, 23 expanded in December,…

SK Global Chemical and Brightmark to build pyrolysis-based plastics-recycling plant in South Korea

SK Global Chemical (Seoul, South Korea) and Brightmark, the global waste solutions provider, have signed a memorandum of understanding to create a partnership that aims to take the lead in the circular economy of plastic by construction of a commercial-scale…