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Business Roundup

January 19, 2024 | A version of this story appeared in Volume 102, Issue 2


Ineos’s plan to build Europe’s largest ethylene cracker in the port of Antwerp, Belgium, is back on track after a Belgian court reversed a July 2023 ruling that the facility would generate unacceptable levels of air pollution. Environmental groups and local governments seeking to block the plant have until mid-February to appeal.

Eneos is making an investment in MVCE Gulf Coast, a hydrogen project planned for the US. The Japanese energy company may use methylcyclohexane as a carrier to export hydrogen to Japan.

Abu Dhabi National Oil Company( Adnoc) has purchased a 10.1% stake in the carbon dioxide capture and storage developer Storegga for an undisclosed sum. It is part of Adnoc’s plan to invest $15 billion in decarbonzation technologies. Adnoc is also in the middle of a 5-year, $150 billion expansion of its oil and gas production.

Fujifilm will invest $40 million to build a plant in Kumamoto, Japan, for color filter materials used in digital cameras and other imaging devices. The firm is also adding capacity for the filters at its plant in Pyeongtaek, South Korea.

International Flavors & Fragrances has appointed Erik Fyrwald as CEO. He previously served as CEO of the agricultural chemical company Syngenta and the chemical distributor Univar Solutions.

International Battery Metals has a deal to deploy its direct lithium extraction technology for an unnamed customer in the western US. That firm aims to initially produce 4,000 metric tons (t) of lithium carbonate and scale up to 8,000 t.

Italmatch Chemicals has agreed to acquire a majority stake in Alcolina, a Brazilian specialty chemical firm making products for applications including paint, pulp and paper, and water treatment. Alcolina recorded sales of about $38 million last year.

Evolva, a Swiss maker of ingredients made via fermentation, has been acquired by the yeast producer Lallemand for about $23 million. Evolva says it faced liquidation without a sale.



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