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Business

Business Roundup

October 27, 2024 | A version of this story appeared in Volume 102, Issue 34

 

General Motors is increasing its bet on Lithium Americas’ lithium mine in Nevada by $295 million, for a total investment of $945 million. The funds will help Lithium Americas qualify for a government-backed loan to fund the project.

Turnover Labs has received $1.4 million in preseed funding from Pace Ventures, GC Ventures, Sandy Spring Climate Partners, and other firms. The New York City start-up is based on technology from Columbia University to convert carbon dioxide into chemicals electrochemically.

Mitsubishi Chemical Group plans to expand capacity to make polyvinyl alcohol film at its Ogaki City, Japan, plant by the second half of 2027. The material is used for polarizing plates in liquid crystal displays.

Carbon Recycling International will design a plant for Tianying Group that will produce 170,000 metric tons of methanol per year from captured CO2and green hydrogen. The facility, to be located in Liaoyuan, China, will be Carbon Recycling’s third licensed plant in the country.

Syensqo has signed an agreement to partner with the Jean-Marie Lehn Foundation. The pact will bring together chemists from their organizations, as well as from the University of Strasbourg and France’s National Center for Scientific Research, to work on sustainable materials and the synthesis of renewable and polyfunctional chemicals.

Moolec has secured approval from the US Department of Agriculture for a genetically engineered pea that produces bovine myoglobin. The company has already received approvals for soy and safflower crops engineered to produce animal proteins.

ADM will produce Vestaron’s biobased crop protection products. They are derived from insecticidal peptides, such as those found in spider venom.

Roche and Genentech have returned the rights to bepranemab, a drug candidate to treat Alzheimer’s disease, to UCB after 4 years. UCB is slated to present Phase 2a results for bepranemab at the 2024 Clinical Trials on Alzheimer’s Disease Meeting in Madrid.

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