Bright-PET chips – EXCLUSIVE-Eni exploring sale of stake in bioplastic maker Novamont 18-12-2023
- Polyester Feedstocks – ‘Biodegradable’ plastic bags failing in Beijing – Nylon filament and its feedstock isn’t strong 11-12-2023
- New enzyme technology for environmentally friendly plastic recycling
EXCLUSIVE-Eni exploring sale of stake in bioplastic maker Novamont
Eni is reportedly exploring the possibility of selling a minority stake in its bioplastic subsidiary, Novamont, engaging in discussions with potential investors, in a move that could value the bioplastic giant at approximately €1 billion ($1.1 billion).
Earlier this year, Eni expanded its chemical portfolio by acquiring the remaining 64% of Novamont, previously held by private equity funds Investitori Associati II and NB Renaissance. Bright-PET chips
Eni now aims to expedite Novamont’s growth by seeking partnerships with investors, potentially enhancing the sustainability of its overall chemical business and increasing exposure to the circular economy sector.
Novamont, located in Piedmont and owned through Eni’s chemical unit, Versalis, stands as the global leader in bioplastic production. Noteworthy investors expressing interest in the prospective deal include Norway’s private equity fund HitecVision and U.S. fund Blackstone. Discussions remain in their early stages, and Eni has not yet determined the exact stake size for potential sale.
In contrast to traditional plastics, predominantly derived from fossil fuels and posing environmental challenges, bioplastics such as Novamont’s MATER-BI are made from natural or renewable sources and boast biodegradable properties. Novamont’s extensive patent portfolio, with over 1,400 patents and applications, underscores its commitment to advancing sustainable alternatives in the bioplastic industry. Bright-PET chips
EPA Begins Process to Prioritize Five Chemicals for Risk Evaluation Under Toxic Substances Control Act
Today, the U.S. Environmental Protection Agency (EPA) announced that it is beginning the process to prioritize five additional toxic chemicals for risk evaluation under the nation’s premier chemical safety law. If, during the 12-month long statutory process, EPA designates these five chemicals as High Priority Substances, EPA will then begin risk evaluations for these chemicals. Bright-PET chips
EPA plans to prioritize the following chemicals for risk evaluation under the Toxic Substances Control Act (TSCA):
- Acetaldehyde (CASRN 75-07-0),
- Acrylonitrile (CASRN 107-13-1),
- Benzenamine (CASRN 62-53-3),
- 4,4’-Methylene bis(2-chloroaniline) (MBOCA) (CASRN 101-14-4), and
- Vinyl Chloride (CASRN 75-01-4).
“Under the Biden-Harris Administration, EPA has made significant progress implementing the 2016 amendments to strengthen our nation’s chemical safety laws after years of mismanagement and delay. Today marks an important step forward,” said Assistant Administrator for the Office of Chemical Safety and Pollution Prevention Michal Freedhoff. Bright-PET chips
“Moving forward to comprehensively study the safety these five chemicals that have been in use for decades is key to better protecting people from toxic exposure.”
“Most vinyl chloride is used to make polyvinyl chloride (PVC) plastic, which poses significant health and environmental problems that have been known for over 50 years. This is one of the most important chemical review processes ever undertaken by the EPA. I applaud the EPA for launching this review,” said Judith Enck, President of Beyond Plastics and former EPA Regional Administrator.
This step is consistent with a commitment from the Biden-Harris Administration to understand and address environmental and toxic exposures as part of the Cancer Moonshot’s mission to end cancer as we know it, and as progress on delivering environmental justice. Bright-PET chips