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Business Roundup

September 2, 2013 | A version of this story appeared in Volume 91, Issue 35

Solexel has raised $54 million in a third round of venture capital funding. The Milpitas, Calif.-based solar start-up makes monocrystalline solar cells using silicon gas, a process that it says produces high-efficiency cells for lower cost than traditional wafer-based technologies.

Linde will build what it calls the world’s largest carbon dioxide liquefaction plant at Saudi Basic Industries Corp.’s complex in Al Jubail Industrial City, Saudi Arabia. The plant will compress around 1,500 metric tons per day of CO2 emitted by two ethylene glycol plants for sale to the food and beverage industry and for use in methanol and urea production.

Warwick Chemicals has secured a $60 million refinancing package from three banks. The Welsh company is the world’s largest producer of tetra­acetylethylenediamine, a bleach activator. Warwick says the new funding will help it expand its production capacity.

PPG Industries will spend about $34 million to build a paint resins plant at its facility in Sumaré, Brazil, by 2015. Relying on imported resins to make automotive, industrial, and other coatings is expensive and hurting its competitiveness, the company says.

Thermo Fisher Scientific will award 44 four-year scholarships annually to undergraduates studying science, technology, engineering, and math at five schools including MIT; University of California, Berkeley; and Imperial College London. The firm will spend $700,000 annually on the program when it fully ramps up in four years.

Synalloy has acquired Color Resources, a Fountain Inn, S.C., toll manufacturer for the chemical industry. Synalloy says the purchase, for $3.5 million, complements its existing Manufacturers Chemicals custom manufacturing business in Cleveland, Tenn.

Sunshine Biopharma, a Montreal-based oncology drug company, has agreed to acquire the pharmaceutical services firm Garmen Laboratories for an undisclosed sum. Garmen will manufacture 1 kg of Adva-27a, Sunshine’s flagship anticancer drug candidate.

Eli Lilly & Co. is working with Denmark’s Zealand Pharma on the design and development of peptides for the treatment of type 2 diabetes and obesity. Lilly scientists have discovered a peptide-hormone-based approach that, according to the partners, has the potential to lower blood glucose and body weight.



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