Business Roundup

Shin-Etsu Chemical chair Chihiro Kanagawa has died at age 96. Kanagawa joined the company in 1962, founded its US polyvinyl chloride arm Shintech in 1973, and became chair in 2010.

Nexus Circular which is commercializing a pyrolysis recycling process, has raised $150 million in equity financing. Cox Enterprises, an Atlanta-based media conglomerate, bought additional company stock and will become majority owner.

Nova Chemicals has completed a 50% expansion of its ethylene cracker capacity in Corunna, Ontario. It has also finished work on a new downstream polyethylene plant in St. Clair, Ontario.

Yara, a Norwegian fertilizer producer, will modify its shipping terminals in Germany so that they are able to receive up to 3 million metric tons per year of ammonia. Yara plans to use the terminals for importing carbon-neutral ammonia that can be converted into hydrogen.

Citrine, an artificial intelligence platform developer, closed a $16 million series C funding round led by Prelude Ventures and Innovation Endeavors. The Redwood City, California–based firm develops software for chemical, materials, and manufactured product development.

Synthomer will sell its laminates, films, and coated-fabrics units to Surteco Group for about $255 million. Synthomer got the businesses in 2020 when it bought the polymer maker Omnova Solutions.

Dorf Ketal has acquired Canada’s Fluid Energy Group for an undisclosed sum. In 2022, Fluid Energy had about $60 million in sales of commodity chemicals, such as hydrochloric acid, modified to be safer or more effective.