Business Roundup

Infinity Recycling, a Dutch firm creating markets for recycled plastics, has raised over $45 million for its Circular Plastics Fund, which invests in companies with advanced plastics recycling technologies. Investors include the polymer makers Chevron Philips Chemical, LyondellBasell Industries, and Indorama.

Honeywell UOP is licensing its Isoalky ionic liquid–based alkylation process to the Turkish refiner Tüpraş. The technology uses ionic liquids instead of hydrofluoric and sulfuric acids to catalyze the alkylation process.

Westlake Chemical is changing its name to Westlake. The company says it decided to adopt a more general name after several acquisitions, three of which were in the building products field.

FortePhest, an Israeli start-up, has secured undisclosed series B funding from BASF and venture capital firms. FortePhest has developed herbicides that disrupt the homeostasis of free amino acids in weeds and target their meristems to stop development of shoots and roots.

Umicore will provide Automotive Cells Company, a French battery maker, with its next-generation lithium-ion battery recycling technology. Umicore claims that the technology performs better than the one it has deployed since 2011 at a plant in Hoboken, Belgium.

Fujifilm is launching a $60 million venture capital fund that will invest in emerging companies with what it calls high-impact biotechnology. Fujifilm’s earlier investments in regenerative medicine and cell therapy will be folded into the new fund.

Electra Therapeutics has spun out of Star Therapeutics with $84 million in series B funding. Electra will target signal regulatory proteins to treat immunological diseases.

Eli Lilly and Company has purchased rights to certain ImmunoGenantibody-drug conjugates that are based on anticancer compounds called camptothecins. ImmunoGen will get $13 million up front.