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ADNOC has announced a non-hostile takeover bid for German chemical giant Covestro, offering €62 per share—a 54% premium over June 2023 prices
ADNOC will also subscribe to a 10% capital increase through new shares, bringing a total investment of €1.17 billion to support Covestro’s Sustainable Future strategy. The bid, led by ADNOC’s subsidiary, ADNOC International Germany Holding, was approved by Covestro’s board, which recommends shareholders accept.
Covestro’s CEO Markus Steilemann expressed confidence in the partnership, highlighting ADNOC’s financial strength and long-term focus. Recycled Plastics
He noted the collaboration will boost Covestro’s growth in attractive sectors and its contribution to the green transition. ADNOC’s CEO, Sultan Ahmed Al Jaber, described the deal as a key step in ADNOC’s goal of becoming a top global chemicals company and emphasized the shared commitment to sustainability and innovation.
The offer is contingent on a minimum acceptance level of 50% plus one share, alongside customary regulatory approvals. Recycled Plastics
The plant is an efficient and sustainable implementation of a technology that provides for both present and future energy and environmental needs. The figures speak for themselves: compared to a conventional system of separate production of energy and heat, the cogeneration of heat and power (CHP) has enabled us to save a considerable amount of fossil fuel and reduce the environmental impact, thus contributing to a cleaner environment for future generations.”
Those were the words spoken by Massimiliano Bignami, president of Novel Spa, during the plant’s 20th anniversary ceremony, attended by regional and city officials, local stakeholders, employees and the media. Recycled Plastics
Opening greetings from the regional government were delivered by President of the Piedmont Region Alberto Cirio, who wished to participate virtually in the celebration via a video, in which he thanked the Novel top management and pointed out the importance of a great entrepreneurial enterprise: “The 20th anniversary is very important, as it is a mark of seriousness, commitment, goals achieved and difficulties overcome. Your success and capability to take a look at sustainable sources, steam, when no one was even thinking about that, are a testimony to your ability to know how to look ahead, to have a ‘smart compass’ to orient your investments. Therefore, I thank you and offer the full availability of our region to accompany you along your path. Italy is a complicated but marvellous country, and I believe that – working together – opportunities for wealth, employment and cutting-edge innovative technologies in the energy sector are truly within our reach.” Recycled Plastics
Chinese 6C Battery Technology Set to Revolutionize the EV Market
SAIC-GM and battery manufacturer CATL have unveiled the first electric vehicle (EV) battery with a 6C charging capacity, signaling a major leap forward in EV technology. Slated for release in 2025 on General Motors’ next-generation Ultium platform vehicles, this innovation aims to substantially cut down charging times.
The term “6C” indicates the battery’s ability to be charged at a power level six times its nominal capacity. For example, an 80 kWh battery could theoretically accept up to 480 kW of charging power, drastically reducing the time needed to recharge. This advancement surpasses the current high-speed charging batteries in China, which peak at 5C and are used in models like the Li Mega and Zeekr 001. Recycled Plastics
The breakthrough was achieved through several technological innovations:
- Enhancing Electrochemical Reactions: Improved efficiency within the battery’s electrochemical processes boosts performance.
- Increasing Charging Efficiency: Optimizations allow for quicker energy transfer without compromising safety.
- Introducing a New Electrolyte: A novel electrolyte formula helps maintain stability at higher charging powers.
These enhancements enable the battery to retain a stable structure and consistent performance even under the stress of rapid charging. Recycled Plastics
Other manufacturers are also exploring high-capacity charging technologies. BYD is developing its own 6C LFP (Lithium Iron Phosphate) battery but has not provided a specific timeline for its availability. The advent of batteries capable of such rapid charging could significantly accelerate the adoption of electric vehicles by alleviating one of the primary concerns among potential buyers: longer “refueling” times compared to traditional gasoline-powered cars.
By addressing charging speed—a critical barrier to widespread EV acceptance—this 6C battery technology has the potential to transform consumer perceptions and drive the next wave of electric mobility. Recycled Plastics
Dilo’s MicroPunch technology won the Innovation Award at CINTE Techtextil in Shanghai for its advanced needling capabilities
As energy and water costs rise, sustainable and efficient production methods have become crucial. Dilo’s focus on fine, lightweight nonwovens led to a complete overhaul of its needling process.
The “HyperPunch” and “CycloPunch” kinematics enabled higher production rates by increasing needle density from 20,000 to 45,000 needles/meter/board, ensuring greater abrasion resistance. To maintain efficiency, Dilo redesigned the needle boards, allowing for quick needle module assembly and precise mechanical operations. Recycled Plastics
Historically used for fabrics weighing 100 g/m² or more, Dilo has expanded needling technology’s applicability to lightweight nonwovens, down to 30 g/m². MicroPunch allows for the economical production of lightweight nonwoven fabrics entirely through mechanical processes. The fabrics produced are comparable to hydroentangled nonwovens in terms of abrasion resistance, but with added volume, stretch, and similar tensile strength.
MicroPunch’s unique characteristics make it ideal for hygiene, medical, cosmetic, and technical applications. Additionally, it reduces energy consumption by up to 75% compared to other bonding methods, offering a more sustainable solution for producing lightweight nonwoven fabrics. Recycled Plastics
At Fakuma 2024, DOMO Chemicals will present its sustainable polyamide innovations under the theme “Caring for a Better Tomorrow.”
Key highlights include:
- Renewal of the EcoVadis Gold Medal, placing DOMO in the top 2% of evaluated companies globally.
- ISCC+ certification for its new Haiyan, China plant, expanding its portfolio of eco-friendly polyamide products through sustainable sourcing.
- A collaboration with Sea2See to create polyamides from post-consumer fishing nets, reducing reliance on fossil fuels while supporting African communities.
In mobility, DOMO has partnered with BRANO to develop a lightweight polyamide brake pedal, reducing component weight by 27% and cost by 60%. They also introduce TECHNYL® LITE, a polyamide composite tape ideal for metal replacement in automotive and construction sectors. Recycled Plastics
For food and water safety, DOMO launches TECHNYL® SAFE C, certified for water contact, reducing CO2 emissions by 22%. The expanded TECHNYL® ONE range addresses the growing need for flame-retardant polymers in e-mobility and electronics.
Finally, DOMAMID® polyamides offer high performance for recyclable packaging, highlighting DOMO’s role in forming the Advanced Packaging Association (APA), promoting the sustainability of polyamide-based packaging. Recycled Plastics
Governor Newsom signed into law California’s AB 863 by Assembly Majority Leader Aguiar-Curry. Sponsored by the National Stewardship Action Council (NSAC), AB 863 will make critical improvements to the state’s first in the world carpet recycling program, including closed-loop recycling with the world’s first carpet-to-carpet minimum recycled content requirement.
“I want to thank the Governor for his support of AB 863. This bill strengthens transparency and accountability for CARE and will greatly increase the program’s performance by training more workers to improve product recyclability,” said Cecilia Aguiar-Curry (D-Winters). Recycled Plastics
“Even with constant intervention and enforcement actions by CalRecycle and the California legislature, CARE’s failure to successfully manage California’s carpet recycling program has resulted in more carpet in landfills, wasted consumer fee money, constant litigation with the state, and serious damage to recycling infrastructure in this state. We will fix this program by expanding auditing and increasing fines for bad performance. We owe it our state’s consumers to make sure the fees they pay are used effectively, create jobs for California workers and invest in California’s carpet recycling industry.” Recycled Plastics
Since July 2011, California consumers have paid a carpet stewardship fee when purchasing carpet sold in California. This fee funds a statewide carpet recycling program known as the Carpet America Recovery Effort (CARE), which is a Producer Responsibility Organization (PRO) designed and implemented by carpet manufacturers with oversight by CalRecycle.
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Car interiors – LOHUM, ReElement & American Metals Come Together to Set up an Integrated Li-ion Battery Materials Processing Facility With an Investment North of $30M 01-10-2024
