TCL #20: Micromeritics & Fraunhofer’s Materials Partnership, Mitico’s $4.3M Carbon Capture Funding, Saipem-Subsea7 Merger, Sumitomo’s LCP Expansion

Plus, Medtronic's FDA approval for Parkinson's device, Thermo Fisher Scientific's $4.1B acquisition of purification deal & more.

Stay updated on the latest developments in the chemical and allied industries.

Materials

Micromeritics Instrument Corporation and Fraunhofer Institute for Chemical Technology (ICT) have announced a technical collaboration aimed at promoting the development of new materials for Cleantech applications such as thermochemical heat storage, electrolysis, fuel cells, and batteries. Key highlights include-

• Installation of Micromeritics 3Flex high-performance adsorption analyzer in Fraunhofer ICT's Advanced Electrochemistry Lab to support research in catalyst and particulate materials development.
• Emphasis on the importance of sorption studies in developing electrocatalysts, highlighting the relationship between structure, electrochemical activity, and stability.

Carbon Capture

1. Mitico, Inc., a carbon capture technology company based in Los Angeles, California, has closed an over-subscribed Seed funding round of $4.3 million, led by Exergon and supported by a consortium of investors. This funding will accelerate the piloting and commercial scaling of their integrated sorbent technology aimed at making industrial carbon capture economically viable. Mitico's technology employs granulated metal carbonate (GMC) sorbents and can be retrofitted into a custom design, making the system adaptable to 3-18% CO₂ in flue gas.
2. POET and Tallgrass have partnered on a carbon capture project where POET's Fairmont, Nebraska bioprocessing facility will connect to the Tallgrass Trailblazer carbon dioxide pipeline. The Trailblazer project is under construction and expected to commence commercial operations in 2025. The pipeline will transport bioCO2 captured at the POET facility to permanent underground storage in Wyoming. Capturing and sequestering bioCO2 will reduce the carbon intensity of bioethanol, creating new market opportunities for Nebraska corn growers and bioethanol producers.

Energy

Saipem (Italy) and Subsea7 (Norway) have agreed to merge in an all-stock deal. The deal is valued at approximately $4.9 billion. Saipem provides oilfield services and specializes in engineering, drilling activities, and the development of projects in the energy and infrastructure sectors. Subsea7 focuses on facilitating the offshore energy transition by supporting lower-carbon oil and gas initiatives, as well as enabling the expansion of renewable and emerging energy sources. Both companies anticipate that the merger will lead to operational efficiencies and improved service offerings for their clients.

Coatings

Akzo Nobel N.V. has made an offer to acquire the Powder Coatings operations and International Research Center from its publicly listed subsidiary, Akzo Nobel India Limited. The Akzo Nobel India board has accepted this offer. The offer includes transferring the intellectual property for the local Decorative Paints business to its Indian subsidiary. The transactions will allow AkzoNobel India to become a more focused liquid paints and coatings business. The parent company has offered ₹2,073 crores (approximately $238 million) for the powder coatings business and ₹70 crores (approximately $8 million) for the international research centre.

Polymers

1. Sumitomo Chemical has acquired the liquid crystal polymer (LCP) neat resin business from Syensqo. The acquisition will allow Sumitomo Chemical to strengthen its ability to meet market demands and expand its LCP business, especially in the ICT and mobility sectors. The LCP market is expected to grow, driven by increased electrical demand and the shift towards electric vehicles, next-generation radar systems, and high-capacity connectors. 
2. BASF India Limited is enhancing its position in the Indian market by establishing a new plant for Cellasto® microcellular polyurethane (MCU) in Dahej, India, which is expected to be operational in the second half of 2026. The new mold line will enhance BASF's ability to deliver noise, vibration, and harshness (NVH) reduction solutions, essential for automotive customers.

Medical Devices

Medtronic has received FDA approval for the world's first Adaptive Deep Brain Stimulation (aDBS) system designed for individuals with Parkinson's disease. The system, known as  BrainSense™, utilizes a closed-loop technology that adjusts stimulation based on real-time brain activity, providing personalized therapy for symptom control. These BrainSense™ offerings are currently available in Europe, and will be available in select healthcare systems in the U.S. in the coming weeks, with nationwide availability expected in the coming months.

Pharma

The FDA has granted priority review to Precigen's Biologics License Application (BLA) for PRGN-2012, an investigational AdenoVerse gene therapy for the treatment of adults with recurrent respiratory papillomatosis (RRP). PRGN-2012 has the potential to be the first FDA-approved therapeutic for RRP. The FDA has set a PDUFA target action date of August 27, 2025, and no advisory committee is currently planned. Priority review reduces the BLA review timeline to 6 months and is granted to therapies that, if approved, would provide significant improvement in the safety or effectiveness of the treatment, diagnosis, or prevention of a serious condition.

Cleantech

Dispersa, a Canadian cleantech startup, has closed a $5.8 million CAD (approximately $4.01 million USD) seed funding round. The funding will primarily support the commercialization of PuraSurf® M, a waste-derived biosurfactant. The company uses a proprietary BioEterna fermentation process that harnesses the power of microbes to deliver cost-effective and biodegradable solutions that are palm-free.

Drug Discovery

Enamine, Chemspace, and PharmAI Discovery GmbH (PAID) have formed a collaboration to enhance AI-driven drug discovery focused on theranostics, particularly for cancer diagnosis and therapy. This partnership leverages Enamine's chemistry expertise, Chemspace's expertise in ultra-large libraries, and PharmAI's AI-driven molecular discovery platform. The goal is to accelerate the development of drug candidates for radioligand therapy (RLT) and radio diagnostics, addressing unmet medical needs in cancer treatment.

Life Sciences

Thermo Fisher Scientific will acquire Solventum's purification and filtration business for $4.1 billion in cash. The transaction is expected to be completed by the end of 2025, subject to standard closing conditions and regulatory approvals. In 2024, Solventum's Purification & Filtration business generated approximately $1 billion in revenue. 

Recycling

Resynergi, a company focused on modular pyrolytic plastic recycling technology, has secured $18 million in Series B extension funding. The funding round was led by Taranis, an investment and asset management company. Resynergi is based in Rohnert Park, California. The company intends to use the funds to commission its first commercial site.