Page 164 - CW E-Magazine (2-1-2024)

News from Abroad

COLLABORATION
L’Oréal signs deal for waterless extraction process

for natural fragrance ingredients

France’s L’Oréal is teaming up with extraction machine can be plugged offering unprecedented olfac-
Cosmo International Fragrances for into any regular electrical socket. tive authenticity, allowing nat-
exclusive access to the US-based frag- According to Cosmo, this means ural ingredients to express their
rance creation company’s ‘air only’ ex- the natural ingredients retain their full olfactive identity like never
traction technology. integrity and, at the end of the pro- before,” said Mr. Cyril Chapuy,
cess, can be recycled and reused President of L’Oréal Luxe, in a
Cosmo’s patent-pending process in a second extraction, helping to statement.
is a waterless, low-energy extraction reduce waste.
technique that reveals the exact smell According to L’Oréal, ‘green sciences’
of a fragrance while preserving its inte- L’Oréal said the approach sets new are a keystone of its sustainability stra-
grity. The ambient scent capture tech- frontiers for the group’s fi ne fragrance tegy, which aims to develop a new para-
nology harnesses the volatile fragrance development, expanding the perfumers’ digm with nature at the core. Today, 61%
molecules of fl owers, fruits and other palette with wholly natural and pure of the group’s formula ingredients are bio-
natural ingredients without the need for scent extracts. based, derived from abundant minerals
heating, cooling or chemical solvents from circular processes. By 2030, the com-
used in conventional scent extraction. The partnership’s fi rst collaboration pany aims to have wholly eco-designed
will focus on tuberose for a future fi ne fra- formulas that respect aquatic ecosystems
“You really capture the exact scent grance, targeted for release in 2024. “To- and 95% of the company’s ingredients
of a fresh fl ower,” explained Mr. Marc gether with Cosmo, our brands will take stemming from renewable plant-based
Blaison, President of Cosmo, adding the fi ne fragrance crafting to new heights by resources or abundant minerals.
CONSOLIDATION
Koch Ag & Energy to buy US fertiliser facility from

OCI Global for $3.6-bn

Diversifi ed conglomerate, Koch Ag & as well as a phosphate fertiliser plant in space, building on OCI’s early mover
Energy Solutions (KAES), has agreed to Morocco. lower-carbon ammonia and green metha-
acquire Amsterdam-headquartered OCI nol platforms.
Global’s fertiliser plant in Wever, Iowa, “The announcement is an important
for $3.6-bn. step forward for KAES as we continue “Our strengthened balance sheet will
to invest in our fertiliser business,” said support the acceleration of our strategy
The transaction, once fi nalised, will Mr. Mark Luetters, president of KAES. in the fi eld of decarbonisation projects,
give KAES 100% ownership of the Once all closing and regulatory condi- driving future growth and supporting
facility, which was opened in 2017 and tions of the acquisition agreement are the energy transition goals we share
has the capacity to produce 3.5-mtpa of met, the Wever facility will be added to with many of our stakeholders, estab-
nitrogenous fertilisers. KAES and its sub- the existing Koch Fertilizer portfolio. lishing us as a leader in the low carbon
sidiaries, including Koch Fertilizer, Koch space,” said Mr. Nassef Sawiris, Exe-
Agronomic Services, Koch Energy Ser- Strategic review cutive Chairman of OCI. Mr. Hassan
vices and Koch Methanol, are providers The divestment by OCI follows the Badrawi, CFO of OCI added, “Combined
of value-added solutions for the agricul- launch of a multi-faceted strategic review with the recent sale of Fertiglobe, OCI is
ture, energy and chemical markets. Koch in March 2023. The transaction is ex- crystallising $7.2-bn of tax-free gross cash
Fertilizer and its affi liates own or have pected to result in a reduction in holding proceeds. The resultant fi nancial profi le
interests in nitrogen fertiliser plants in company net debt as well as help explore provides signifi cant fl exibility to achieve
the US, Canada, and Trinidad & Tobago, opportunities in the energy transition all OCI’s goals.”

164 Chemical Weekly January 2, 2024

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