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Business

Solvay Takes Over Carbon Trading Firm

by Marc S. Reisch
December 5, 2011 | APPEARED IN VOLUME 89, ISSUE 49

Solvay plans to acquire the 50% stake it does not already own in the carbon emission rights trading firm Orbeo from the French banking group Société Générale. After five years in business together, the two companies have decided to pursue CO2 trading and abatement projects independently, Solvay says. Orbeo will become a part of Solvay’s Rhodia Energy unit, which will offer management of energy and CO2 emissions to customers. Solvay acquired specialty chemical maker Rhodia in September.

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