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Business Roundup

January 5, 2024 | A version of this story appeared in Volume 102, Issue 1


BASF and LetterOne have agreed to sell the exploration and production business of their Wintershall Dea joint venture to Harbour Energy for $2.15 billion in cash plus shares of Harbour Energy. The value of the businesses being sold is $11.2 billion, and the deal excludes Russian and some minor assets.

Amogy, Mitsubishi Corp., and SK Innovation will jointly study Amogy’s technology, which combines ammonia cracking and fuel cell electricity production into a single system. The companies hope to develop ammonia as a hydrogen carrier for applications in Japan and South Korea.

Evonik Industries is expanding production of hydroxyl-terminated polybutadienes at its plant in Marl, Germany, to start up in the second quarter of this year. The product is used in adhesives and sealants.

Air Liquide is adding cryogenic carbon capture to its hydrogen plant in Rotterdam, the Netherlands. The firm plans to inject the captured CO2 into depleted gas fields under the North Sea via the Porthos project.

Bioenergy Iberica has installed a biogas generator at the Queizuar cheese factory in northwest Spain. Bioenergy says the plant will convert dairy waste into 3 million kW h of clean energy and avoid the equivalent of 600 metric tons of carbon dioxide emissions annually.

Biosynth has acquired VIO Chemicals, a Swiss designer and maker of specialty chemicals and drug intermediates, for an undisclosed sum. Biosynth acquired the UK peptide synthesis firm Pepceuticals in September.

ITM Isotope Technologies has agreed to a worldwide licensing agreement with Merck KGaA for the development and commercialization of folate-based radiotheranostics for all folate receptor-positive malignant tumors. Merck provides ITM with folate precursors.

Novo Nordisk will acquire a drug production facility in Athlone, Ireland, from the biotechnology firm Alkermes for $92.5 million. Novo Nordisk has been investing in manufacturing capabilities as it increases output of its fast-growing weight loss and diabetes drugs.



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