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News from Abroad                                                                                                                                                                  News from Abroad


       DEAL UPDATE                                                                                                   converts hard-to-recycle plastics into a  faction technology and  Technip  looking forward to offering a robust
       Covestro board lends support to ADNOC’s takeover                                                              liquid hydrocarbon product. This liquid  Energies will design, engineer and deli-  and  easy-to-deploy  liquefaction  tech-
                                                                                                                     intermediate  product  can  then  be  fur-
                                                                                                                                                       ver the standardised liquefaction plant  nology to also contribute to meeting
       offer                                                                                                         ther refi ned into high-quality raw mate-  solution to interested parties globally.  our own increasing demand for lique-
                                                                                                                                                                                         fi ed  waste  plastic,”  said  Mr. Andreas
                                                                                                                     rials for new plastics and chemicals.
                                                                                                                     As of today, Neste alone has processed   “We have a proven technology  Teir, who is in charge of chemical
          German plastics and materials fi rm,                                                                        more than 6,000 tons of plastic-derived  for liquefaction that encompasses  recycling at Neste.
       Covestro,  has  said  that  its  manage-                                                                      feeds,  including  ISCC  PLUS  certifi ed  15 years of research, development
       ment  and supervisory boards support                                                                          oil  from Alterra’s  industrial-scale  site  and  improvement,”  said  Mr.  Frederic   “We  look  forward  to  supporting
       Abu Dhabi National  Oil Company’s                                                                             in Akron, Ohio (USA).             Schmuck, CEO at  Alterra Energy.  the market with Alterra’s proven tech-
       (ADNOC’s) $16.3-bn takeover offer.                                                                                                              “Now we are reducing the hurdles  nology, improved with Neste, and our
                                                                                                                     Combining expertise               for companies interested in investing  standard modular  solution,  both  seen
          The company said the boards “wel-                                                                             Alterra and Neste started collabo-  in liquefaction.  We are ultimately  as key enablers for scalable projects.
       come and support the takeover offer”                                                                          rating in chemical recycling in 2021,  enabling  a  copy-paste  solution  for  We  are  confi dent  that  this  solution,
       and  regard  ADNOC  as  a  strong  and                                                                        jointly improving aspects of Alterra’s  liquefaction plants, allowing for a  along  with  Neste’s  brand  power  and
       long-term oriented partner, with whom                                                                         technology and creating respective  fast  scale-up  of  economically  viable  expected increasing demand for lique-
       Covestro will be able to further drive its                                                                    value chains.  Alterra and  Technip  recycling capacities globally.”  fi ed  waste  plastic,  will  contribute  to
       successful ‘Sustainable Future’ strategy.                                                                     Energies  started  their collaboration in                           fast  deployment  of  new  chemical  re-
                                                                                                                     chemical recycling in 2022. The three   “There is strong demand for more  cycling capacity,” said Mr. Bhaskar
          “The offer made by ADNOC Inter-                                                                            companies have now joined up where  sustainable solutions, and we are ready  Patel, SVP Sustainable Fuels, Chemi-
       national provides shareholders with an                                                                        Alterra and Neste will license the lique-  to serve this demand. We are therefore  cals & Circularity at Technip Energies.
       attractive opportunity to realise signifi -
       cant value already upon completion of                                                                         CDMO ECOSYSTEM EXPANSION
       the transaction,” the company said.                                                                           Fujifi lm Diosynth Biotechnologies completes fi rst
                                         ADNOC has also committed to recognise   As part of the transaction, there are
          As part  of the  deal,  ADNOC has  the German governance regulations and  no plans to sell, close or signifi cantly   phase of expansion at Danich site
       signed an  investment agreement in  to retaining the co-determined Supervi-  reduce Covestro’s business activities
       which it pledged to provide additional  sory Board. An important component is  and  ADNOC has undertaken in the   Fujifi lm Diosynth Biotechnologies,                                 Since  2011,  Fujifi lm  Corporation
       funding by buying Euro 1.17-bn worth  also the commitment that two members  investment agreement not to initiate   a  Denmark-based  contract  develop-                           has  invested  over  $8-bn  to  establish
       of new shares of Covestro from a capital  of the Supervisory Board on the share-  any such actions. The agreement also   ment and  manufacturing organisation                     a  global  network  for  biologics  manu-
       increase.                         holder representatives’ side will remain  contains a commitment to protect   (CDMO)  for  biologics,  vaccines,  ad-                            facturing.  This includes strategically
                                         independent  of ADNOC  Group  after  Covestro’s technology and intellectual   vanced therapies, and oncolytic viruses,                          located modular  facilities designed  to
          In the investment  agreement,  the takeover offer has been completed.   property.                          has begun operations at the fi rst phase                             provide the agility  needed for rapid
       STANDARDISED SOLUTION                                                                                         of its expansion at the Hillerød site in                            production scaling. In 2025, operations
                                                                                                                                                                                         will begin at the fi rst phase of Fujifi lm
                                                                                                                     Denmark.
       Neste, Alterra and Technip Energies join hands                                                                                                                                    Diosynth  Biotechnologies’  large-scale
                                                                                                                        This milestone marks the initial step
                                                                                                                                                                                         facility in Holly Springs, North Caro-
       to offer modular chemical recycling plants                                                                    in the company’s  strategy to build a  production is scheduled to commence,  lina (US).
                                                                                                                     comprehensive global ecosystem dedi-  with full expansion expected  to be in
          Finland’s  renewable  chemicals  &                              in building capacity for  chemical         cated to enhancing the production and  operation by 2026, increasing the site   “The Hillerød facility is the fi rst ex-
       fuels  fi rm  Neste,  US-based  liquefac-                           recycling.  This solution will come        delivery of life-saving medicines.  footprint  to  approximately  51,500-m   pansion in  our global  network, which
                                                                                                                                                                                      2
       tion process technology specialist                                 in the form of readily designed and                                          and creating up to 2,200 jobs.    will include further developments  in
       Alterra and France’s Technip Energies                              engineered liquefaction plant modules,        This  fi rst  phase  adds  six  mamma-                            the  US, UK, and  Japan.  By  investing
       have signed a collaboration agreement                              which will allow for lower pre-invest-     lian cell bioreactors, bringing the   “This expansion is a testament to  in  state-of-the-art  facilities  on  both
       to advance the circularity of plastics                             ment  costs,  accelerated  implementa-     total capacity at the Hillerød site to 12  our vision for introducing robust capa-  sides of the Atlantic and prioritising our
       by  providing  the  industry  a  standar-                          tion  time,  high  predictability  on  pro-  x  20,000-L  bioreactors.  A  previously  bilities into the global biopharma land-  workforce, we are uniquely positioned
       dised  technology  solution  for  chemi-                           ject economics and reduced overall         announced major capital investment  scape, ensuring the timely delivery of  to meet the evolving needs of our part-
       cal recycling, also referred to as                                 capital costs.                             will support the next phase, which will  critical therapies to those in need,” said  ners  and  the  patients  they  serve,”  ex-
       “advanced recycling”.             a standardised modular solution, based                                      include  an  additional  8  x  20,000-L  Mr. Christian Houborg, Site Head and  plained  Mr.  Lars  Petersen,  President
                                         on  Alterra’s proprietary liquefaction   Alterra’s  technology  is  a  thermo-  bioreactors  and  two  downstream  pro-  Senior  Vice  President  of  Fujifi lm  and  CEO,  Fujifi lm  Diosynth  Biotech-
          The partners aim to globally offer  technology, to parties interested  chemical  liquefaction  process,  which   cessing streams. By mid-2025, fi ll/fi nish  Diosynth Biotechnologies.  nologies.


       174                                                                 Chemical Weekly  November 19, 2024        Chemical Weekly  November 19, 2024                                                              175


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