Business Roundup

PTT Asahi Chemical, an acrylonitrile and methyl methacrylate joint venture between Asahi Kasei and PTT Global Chemical in Rayong, Thailand, has discontinued production because of declining market conditions and competition from China. The venture began operating in 2013.

Lubrizol and the Indian company Polyhose plan to build a medical tubing plant in Tamil Nadu, India. Lubrizol says the tubing will be made with its medical-grade thermoplastic polyurethane and other polymers.

Indorama’s Indovinya specialty chemical business will purchase two lines of oil extraction chemicals—de-emulsifiers and wax inhibitors—from Cargill Bioindustrial UK. The deal includes an R&D facility in Houston.

C2CA has raised $11 million to scale up a process that converts old concrete into aggregate, cement, and insulation. The firm plans to build a facility in the Netherlands that will recycle 150,000 metric tons of concrete per year.

Copernic Catalysts has raised $8 million in funding to develop a catalyst that lowers the temperature and pressure required for ammonia synthesis. The firm is also working on a catalyst for Fischer-Tropsch-based production of sustainable aviation fuel.

Lyten has acquired a manufacturing facility in San Leandro, California, from Cuberg, a lithium-metal battery start-up that shut down this year. Lyten will retool the facility to produce lithium-sulfur batteries.

Revlon is moving its New Jersey R&D operations into a 5,700 m²space in the Northeast Science and Technology Center in Kenilworth. The center is part of the former headquarters of Merck & Co., which sold the site in 2023.

Novartis has tapped the radiopharmaceutical firm Ratio Therapeutics to develop radioligands that target somatostatin receptor 2. Novartis will pay Ratio up to $745 million in up-front and milestone payments.