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Business Roundup

June 11, 2022 | A version of this story appeared in Volume 100, Issue 21


Chevon Phillips Chemical plans to build a new poly(α-olefin) plant in Beringen, Belgium, by 2024. The project will double the site’s capacity for the chemicals, used in synthetic lubricants, to 120,000 metric tons per year.

Novoloop, a start-up based in Menlo Park, California, has raised $21 million in a venture capital round led by Mistletoe Singapore and the South Korean chemical maker Hanwha Solutions. Novoloop is developing a technology to convert postconsumer polyethylene into chemicals such as thermoplastic polyurethanes.

DSM has agreed to buy Prodap, a Brazilian animal nutrition and technology firm, for an undisclosed price. Prodap, which has 330 employees, provides nutrition, consulting, and technology services for farmers of cattle and other ruminants.

Ineos is collaborating with Fluxys, a Belgian gas distributor, on a project to build a low-carbon hydrogen network in the Antwerp port area. Ineos may buy 100,000 metric tons of hydrogen per year from the network.

Horisont Energi has signed deals with Equinor, Vår Energi, and Lhyfe to develop what the firms call Europe’s first large-scale blue ammonia plant. The facility will be on the northern coast of Norway.

Solvay has opened an application development lab and 3D-printing technology line at its site in Alpharetta, Georgia. Princess Astrid of Belgium was on hand for the ceremony.

Cambrex, a pharmaceutical services firm, has acquired Q1 Scientific, a pharmaceutical storage firm in Waterford, Ireland. Q1’s 1,900 m3 storage facility houses about 40 walk-in stability storage chambers, reach-in freezers, and stability units with ultra-low-temperature freezers for biologic therapies.

Praxis Precision Medicines will cut an unspecified number of jobs after disappointing results for its major depressive disorder drug, PRAX-114, in a Phase 2/3 study. Praxis says it will now focus on getting Phase 2b results for its essential tremor drug, on developing a proof of concept for its epilepsy candidate, and on advancing its preclinical pipeline.



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