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Business

Business Roundup

September 14, 2019 | A version of this story appeared in Volume 97, Issue 36

ICL is increasing capacity for the flame retardant tetrabromobisphenol A by 25,000 metric tons annually at its plant near the Dead Sea in Israel. The $50 million expansion, which will also add capacity for an automotive bromine-based flame retardant, will meet higher demand from Asian customers.

VCI, Germany’s leading chemical industry association, has warned that chemical production in Germany fell 0.7% in the second quarter of 2019, with flat sales and prices just 0.6% higher than in the first quarter of the year. The main reason cited for the disappointing figures is a slowdown in German industrial production.

Sasol, which previously delayed release of its financial results for the year ending June 30, now says it will make results available no later than Oct. 31. The firm says it is still waiting for the completion of an independent review of cost overruns and start-up delays at its Louisiana petrochemical complex.

Evonik Industries has boosted capacity for the high-purity C13 alcohol isotridecanol at its plant in Marl, Germany. The increase will serve customers who use the alcohol to make specialty esters for paint resins and surfactants for cleaning products.

Air Products has formed a joint venture with Debang Xinghua Technology to build and operate a coal-to-syngas plant in China. Their $250 million project, which will supply the mixture of carbon monoxide and hydrogen to a chemical complex, is expected to come onstream in 2023.

Terramera, a biopesticides start-up based in Canada, has raised $45 million in a second round of funding from Ospraie Ag Science, S2G Ventures, and other backers. It will use the funds to develop and commercialize its active ingredient delivery technology, which it claims can reduce application rates by 80%.

ZeaKal, a plant traits firm focused on crop efficiency, has raised $15 million in its third funding round from Canopy Rivers and Corteva Agriscience. The company says its PhotoSeed technology enhances plants’ photosynthetic capacity, which results in higher yields and nutritional value.

Johns Hopkins University received $17 million from private donors to open a research center dedicated to studying psychedelics and consciousness. The center will be led by Ronald Griffins, famous for his research on psilocybin, a psychoactive compound found in mushrooms.

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