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Business

Aramco buys Novomer’s CO2-based polyols unit

by Alexander H. Tullo
November 14, 2016 | APPEARED IN VOLUME 94, ISSUE 45

Saudi Arabia’s national oil company, Saudi Aramco, will pay up to $100 million to acquire Novomer’s Converge polyols business. Novomer produces the polyols by reacting carbon dioxide with propylene oxide. The polyols, which have a renewable content of about 40%, are then reacted with isocyanates to make polyurethanes. The company intends to use the proceeds from the sale to develop technology for combining ethylene oxide with carbon monoxide to make beta-propiolactone, which can be converted into industrial chemicals such as acrylic acid.

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