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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
facility in Holly Springs, North Caro-
This milestone marks the initial step
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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