Business Roundup

BASF has granted Pulead Technology Industry, a Chinese battery cathode producer, a sublicense to make and sell its nickel-cobalt-manganese cathode materials for lithium-ion batteries in the U.S. The original patents for the cathode material are owned by Argonne National Laboratory.

Lanxess will spend $24 million to build a polymer compounding plant in Changzhou, China. Set to open by 2019, the facility will be able to make 25,000 metric tons per year of nylon and polybutylene terephthalate compounds for Chinese automakers.

Solvay has agreed to sell its mercury-based chlor-alkali plant in Torrelavega, Spain, to Portugal’s CUF for an undisclosed sum. CUF will invest $65 million to convert the plant to the more modern membrane-cell process.

Evonik Industries has agreed to acquire 3M’s high-concentrates plastic additive compounding business. The deal will enhance Evonik’s existing additive business by allowing it to expand into packaging and other applications.

Gelest has named Ken Gayer, former president of Honeywell specialty products, as its CEO. Founder Barry Arkles remains as chair and chief technology officer. Private equity firm New Mountain Capital took an equity stake in Gelest in April.

Regeneron Pharmaceuticals and Decibel Therapeutics will collaborate on new therapies to protect, repair, and restore hearing. Regeneron will fund R&D at Decibel and provide access to its scientists and technology.

LabGenius, a London-based start-up, has raised $3.7 million in a seed round of funding from investors including Kindred Capital and Acequia Capital. The company will use the money to develop its artificial intelligence engine for creating new materials using synthetic biology.

Arzeda, a biobased chemicals start-up in Seattle, has raised $15.2 million in a first round of funding from investors including Universal Materials Incubator and Casdin Capital. Arzeda is building a portfolio of enzymes and specialty chemicals made with synthetic biology.