The Chem Ledger #15: Key Updates in Materials Science, Manufacturing, M&A and More

Welcome to The Chem Ledger, your go-to source for the latest updates in the chemical and allied industries.

This week I highlight partnerships, major funding rounds, and key acquisitions shaping the industry.

Materials Science

1. Solid4m Inc. has partnered with Proto Manufacturing to enhance high-throughput powder diffraction solutions. This partnership aims to combine Proto's expertise in X-ray characterization instrumentation with Solid4m's modular multiwell devices. The two companies' combined efforts are expected to improve the efficiency of materials analysis and accelerate workflows in material discovery.
2. Whizzo, a company based in Bangalore, India and focused on engineered textiles, has raised $4.2 million in seed funding. The funding round was led by Lightspeed, with participation from BEENEXT. The company aims to utilize the funds to enhance its R&D in materials science, establish a state-of-the-art design lab for fashion-engineered textiles, and expand its supply chain network, particularly targeting markets in the US, Europe, and Japan.

Manufacturing

Basetwo, a Toronto-based startup focused on optimizing chemical manufacturing through artificial intelligence (AI), has raised $11.5 million in Series A funding. This funding round was led by AVP, with participation from existing investor Glasswing Ventures, as well as other notable investors including Deloitte Ventures, Global Brain Ventures, Shimadzu Corporation, Chiyoda Corporation, and several angel investors from the UAE via Qora71. The capital will be used to enhance Basetwo's 'Physics AI platform', which aims to revolutionize pharmaceutical and chemical manufacturing processes by integrating engineering principles with AI. The platform is designed to improve efficiency, reduce energy consumption, and lower costs in large-scale production.

Packaging

The Indian Institute of Packaging (IIP) and Ukhi have signed a Memorandum of Understanding (MoU) aimed at advancing sustainable packaging solutions. Ukhi specializes in developing biopolymers from agricultural waste, particularly using materials like hemp, nettle, and other agricultural byproducts. This partnership focuses on fostering innovation in packaging design and technology, and the promotion of environmentally sustainable methods within the packaging industry.

Climate Action

Origen Power Limited has secured $13 million in a Series A funding round led by Barclays Climate Ventures, with participation from other investors including Shell Ventures, Exascale Fund, Elemental Impact, and Hatch. This funding will be utilized to scale up its limestone-based direct air capture (DAC) technology. 

Energy

Forge Battery has completed contract negotiations to secure $100 million in funding from the U.S. Department of Energy (DOE). This funding will be used to expand the production capacity of its lithium-ion battery gigafactory located in Morrisville, North Carolina. This expansion aims to increase the facility's production capacity to 3 GWh/year. This grant is part of a broader initiative to enhance U.S. domestic battery manufacturing capabilities. Forge Battery plans to combine this funding with an additional $140 million of its own investment.

Pharma

1. JOINN Biologics has acquired Lonza's biologics manufacturing plant located in Guangzhou, China. This facility spans 183,00 square feet and is part of JOINN's strategy to strengthen its presence in Asia-Pacific market. 
2. Teva's Copaxone (glatiramer acetate), a medication used to treat relapsing forms of multiple sclerosis (MS), has received a boxed warning from the FDA regarding the risk of a rare but serious allergic reaction known as anaphylaxis. This warning was added following reports of 82 cases of anaphylaxis associated with glatiramer acetate from December 1996 to May 2024, including six fatalities. This warning also applies to other products containing glatiramer acetate, such as Sandoz's Glatopa. 
3. Johnson & Johnson's Spravato (esketamine) has received FDA approval as a monotherapy for adults with treatment-resistant depression. Spravato is now recognized as the first and only standalone treatment approved for this condition. The FDA's decision was based on data demonstrating that Spravato alone met its primary endpoint within four weeks, showing rapid improvement in depressive symptoms compared to a placebo. This approval expands the treatment options available for patients who have not responded adequately to traditional antidepressants.

Paints & Coatings

Axalta Coating Systems and Dürr Systems AG have partnered to develop advanced automotive digital paint technology. This collaboration aims to achieve the precision of paint application for Original Equipment Manufacturers (OEMs) by integrating Axlata's NextJet™ technology with Dürr's expertise in robotics integration. The digital paint solution, also known as overspray-free application, allows for more accurate paint placement, improving efficiency and reducing waste in the painting process.

Specialty Chemicals

Evonik and Fuhua have established a joint venture named Evonik Fuhua New Materials (Sichuan) Co., Ltd. to produce specialty-grade hydrogen peroxide in China. This collaboration combines Evonik's technology and production management with Fuhua's local market expertise and resources. The joint venture is set to begin supplying the market in the first half of 2026. 

M&A

SGS has signed an agreement to acquire RTI Laboratories, a provider of environmental and materials testing services. This acquisition, based in Detroit, Michigan, aims to enhance SGS's capabilities in North America, particularly in addressing the growing demand for environmental and PFAS (per- and polyfluoroalkyl substances) testing.

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