Latest news with #BASF
Cision Canada
2 days ago
- Business
- Cision Canada
Sustane Technologies Announces Offtake Agreement with Global Leader BASF to Advance Circular Plastics Economy
Canadian-sourced plastics pyrolysis oil to boost BASF's recycled feedstock supply and Ccycled ® portfolio and support the production of high-performance, recycled-content products. HALIFAX, NS, June 26, 2025 /CNW/ - Sustane Technologies and Germany-headquartered BASF have signed a long-term offtake agreement that will see BASF purchase premium plastic feedstock from Sustane's Chester, Nova Scotia facility, including output from both its existing production line and an upcoming facility expansion comprising a new line, tripling capacity. The agreement builds on a collaboration between the two companies that has enabled Sustane to deliver high-quality feedstock from end-of-life plastics to BASF operations in Europe and the United States. Given that Sustane processes the hardest to recycle plastics, this is a major step forward in advancing a true circular economy for plastics. BASF will take-up the pyrolysis oil from Sustane's plant in Chester, Nova Scotia. The pyrolysis oil will be used as recycled feedstock in BASF's production Verbund, supporting the expansion of BASF's portfolio of mass-balanced Ccycled ® products. The Ccycled ® portfolio now comprises several hundred products, which BASF's customers use for a wide range of applications – from food packaging to high-performance plastics for the automotive industry and functional textiles. "This partnership with BASF affirms the value of our Canadian-made innovation on the global stage," said Peter Vinall, CEO of Sustane Technologies. "Sustane's unique product has a greatly reduced carbon intensity compared to fossil feedstocks for plastics and is notable for not requiring additional upgrading." "Together, we're closing the loop on hard-to-recycle plastics and proving that circular solutions can scale and deliver real economic and environmental impact." Sustane has developed a breakthrough process that transforms end-of-life plastics- the kinds that typically end up in landfills or incinerators - into virgin-quality plastic feedstock that can be used in chemical production. Sustane's operations are certified under ISCC+, providing chain-of-custody assurance that the feedstock meets stringent sustainability standards. "At BASF, we are committed to driving circular economy, and partnerships like this are essential to that mission," comments Paul Houston, Manager Business Development Americas, BASF. "Sustane's advanced recycling technology enables us to integrate high-quality, circular feedstock into our value chains and reducing reliance on fossil inputs while supporting our customers' green transformation goals. This agreement represents a powerful example of innovation and collaboration driving real impact." The companies are now exploring opportunities to expand Sustane's capacity both in Canada and internationally, further supporting Canada's emergence as a global leader in clean technology and circular materials innovation. About Sustane Technologies Inc. Sustane Technologies is a Canadian clean technology company, pioneering advanced plastics upcycling and resource recovery from end-of-life streams including municipal solid waste. Using a proprietary process, Sustane transforms unsorted waste, including difficult-to-recycle plastics, into plastics feedstock that can be infinitely circularized. By diverting up to 90% of waste from landfills, Sustane advances a circular economy model that significantly reduces greenhouse gas emissions and plastic pollution. With operations based in Nova Scotia and projects advancing across North America and Europe, Sustane is unlocking new value from waste while supporting industry and governments in meeting their climate and sustainability goals.
Time of India
2 days ago
- Business
- Time of India
Concrete And Cement Additives: U.S. Court Dismisses Antitrust Claims Against Major Concrete Additives Firms, ET Infra
Advt A U.S. judge in Manhattan on Wednesday dismissed a nationwide antitrust lawsuit accusing six companies that sell the vast majority of concrete and cement additives in the United States and Europe of conspiring to drive up prices.U.S. District Judge Lewis Liman said the "extreme and persistent" price hikes alleged by purchasers were "episodic," and inconsistent with coordinated activity in the estimated $27 billion global market for additives and so-called admixtures."Plaintiffs' allegations fall short of suggesting that the price increases were not the product of normal market forces or that the explanations given were pretextual so as to suggest an antitrust conspiracy," Liman defendants include Germany's BASF , Britain's Cinven Group, Italy's Mapei, Ohio-based RPM, France's Saint-Gobain and Switzerland's to court papers, they control an estimated 80% to 90% of the $3 billion U.S. market for the additives, which are chemicals added to concrete, cement and mortar to improve the finished products' strength and his 50-page decision, Liman also said "plus factors" such as mergers, memberships in trade associations, and scrutiny by U.S. and European competition regulators suggested at most that a price-fixing conspiracy was possible, not for the purchasers did not immediately respond to requests for comment. Liman said the purchasers can try to replead most claims. The alleged conspiracy began in began after the European Commission in October 2023 conducted surprise inspections, which the purchasers called "dawn raids," at several producers of construction chemicals, on suspicion of possible anticompetitive commission said the inspections were a preliminary investigatory step and did not mean it found anticompetitive May 2024, the U.S. Department of Justice confirmed a Pennsylvania grand jury had begun probing the concrete and cement additives industry.
Yahoo
3 days ago
- Business
- Yahoo
Lavoro Limited (LVRO) Reaches Out-of-Court Agreement with BASF and EuroChem
Lavoro Limited (NASDAQ:LVRO) is one of the 7 Best Fertilizer Stocks to Buy According to Hedge Funds. A rustic farm field with a tractor spreadng nitrogen-based fertilizer in the background. To address financial challenges, the company reached an out-of-court restructuring agreement with key suppliers like BASF and EuroChem on June 18, 2025. Under Brazil's Recuperacao Extrajudicial framework, the company is reorganizing its debts outside of court. The EJ plan (Extrajudicial Plan) aims to restructure $0.45 billion in trade payables, against which the company aims to secure a steady supply of products in the future. Furthermore, the plan aims to help the company mitigate supply chain disruptions by making adjustments to the inventory financing terms and payment schedules. This restructuring is critical to Lavoro Limited (NASDAQ:LVRO), which faced difficulties in FY25 due to product shortages and financial constraints. With the help of extended payment terms and in-kind settlement with creditors, the company aims to improve its financial flexibility and stabilize its inventory flow through 2030. Lavoro Limited (NASDAQ:LVRO), the region's largest pure-play agricultural inputs company, is a key player in Latin America. The company distributes crop protection products, seeds, and fertilizers across Brazil and six other countries, operating through both physical stores and digital platforms. While we acknowledge the potential of LVRO as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 10 Overlooked Tech Stocks to Buy Now and 10 Low Risk High Reward Stocks Set to Triple by 2030. Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
3 days ago
- Business
- Reuters
Concrete and cement additives price-fixing lawsuit dismissed by US judge
NEW YORK, June 25 (Reuters) - A U.S. judge in Manhattan on Wednesday dismissed a nationwide antitrust lawsuit accusing six companies that sell the vast majority of concrete and cement additives in the United States and Europe of conspiring to drive up prices. U.S. District Judge Lewis Liman said the "extreme and persistent" price hikes alleged by purchasers were "episodic," and inconsistent with coordinated activity in the estimated $27 billion global market for additives and so-called admixtures. "Plaintiffs' allegations fall short of suggesting that the price increases were not the product of normal market forces or that the explanations given were pretextual so as to suggest an antitrust conspiracy," Liman wrote. The defendants include Germany's BASF ( opens new tab, Britain's Cinven Group, Italy's Mapei, Ohio-based RPM (RPM.N), opens new tab, France's Saint-Gobain ( opens new tab and Switzerland's Sika (SIKA.S), opens new tab. According to court papers, they control an estimated 80% to 90% of the $3 billion U.S. market for the additives, which are chemicals added to concrete, cement and mortar to improve the finished products' strength and stability. In his 50-page decision, Liman also said "plus factors" such as mergers, memberships in trade associations, and scrutiny by U.S. and European competition regulators suggested at most that a price-fixing conspiracy was possible, not plausible. Lawyers for the purchasers did not immediately respond to requests for comment. Liman said the purchasers can try to replead most claims. The alleged conspiracy began in 2017. Litigation began after the European Commission in October 2023 conducted surprise inspections, which the purchasers called "dawn raids," at several producers of construction chemicals, on suspicion of possible anticompetitive conduct. The commission said the inspections were a preliminary investigatory step and did not mean it found anticompetitive behavior. In May 2024, the U.S. Department of Justice confirmed a Pennsylvania grand jury had begun probing the concrete and cement additives industry. The case is In re Concrete and Cement Additives Antitrust Litigation, U.S. District Court, Southern District of New York, No. 24-md-03097.
Globe and Mail
4 days ago
- Business
- Globe and Mail
Subsea Thermal Insulation Materials Market: Strategic Insights, Trends, and Opportunities Through 2030
The Subsea Thermal Insulation Materials Market is gaining momentum due to rising deepwater and ultra-deepwater exploration activities. These materials are vital for flow assurance and energy efficiency in harsh subsea environments. Innovation in epoxy, polypropylene, and silicone-based materials continues to drive demand. Key players include BASF SE, Dow Inc., Advanced Insulation, Shawcor Ltd., and TechnipFMC, focusing on advanced insulation technologies and global offshore expansion. In 2025, the global subsea thermal insulation materials market is estimated to be valued at USD 256.7 million. It is projected to reach USD 316.6 million by 2030, registering a CAGR of 4.3% during the forecast period. This research report provides a comprehensive analysis of the industry, including subsea thermal insulation materials market size, trends, drivers and constraints, competitive aspects, and prospects for future growth. The subsea thermal insulation materials market is expected to register robust growth, driven primarily by an upsurge in offshore oil & gas operations. As energy companies increasingly invest in deepwater and ultra-deepwater exploration and production, there is a pressing need for efficient subsea pipeline thermal management systems. These systems are critical for maintaining optimal fluid temperatures in extreme, high-pressure, and sub-zero underwater environments. Inadequate insulation can lead to seawater intrusion, resulting in significant temperature drops. This phenomenon can trigger the formation of hydrates and wax deposits, disrupting flow and jeopardizing equipment integrity and operational efficiency. Thus, there is a strong demand for advanced insulation solutions that ensure flow assurance, enhance safety, and reduce maintenance costs across subsea operations. Download PDF Brochure: Epoxy to be fastest-growing segment in subsea thermal insulation materials market during forecast period Epoxy resins are emerging as the leading choice for insulation in subsea applications due to their remarkable mechanical properties and superior adhesion capabilities. These materials exhibit excellent resistance to both water exposure and various chemical agents, making them ideal for extreme underwater environments. Epoxy coatings provide robust thermal insulation, complemented by a durable protective layer that enhances the longevity of subsea equipment and pipelines. In deepwater and ultra-deepwater settings, the performance of epoxy-based insulation systems is critical, as they must demonstrate reliability under high-pressure and low-temperature conditions. The technical characteristics of epoxy coatings facilitate their application on various complex underwater structures, including manifolds, jumpers, and tie-ins. As offshore projects extend into deeper waters and face increasingly challenging environmental parameters, the demand for effective epoxy insulation solutions continues to grow. Other filler types segment accounted for second-large share of subsea thermal insulation materials market in 2024 The other filler types segment held the second-large share of the global subsea thermal insulation materials market in 2024. Ceramic microspheres serve as lightweight hollow fillers that significantly reduce the weight of insulation systems while enhancing thermal performance and resistance in high-pressure, high-temperature (HPHT) environments commonly encountered in deepwater and ultra-deepwater projects. These microspheres improve the mechanical properties and stability of insulation systems, making them suitable for application in flowlines, risers, and various equipment. Furthermore, their compatibility allows engineers to effectively blend them with polyurethane and epoxy insulation materials, optimizing the overall effectiveness of insulation solutions in challenging settings. Pipe-in-pipe segment accounted for second-largest share of subsea thermal insulation materials market in 2024 The pipe-in-pipe segment held the second-largest share of the global subsea thermal insulation materials market in 2024. An insulated carrier pipe is positioned within an outer protective pipe, creating an additional thermal barrier that effectively mitigates the formation of hydrates and waxes in subsea operations characterized by high-pressure and low-temperature environments. The integration of extended tiebacks and elevated operating pressures, coupled with exceptional temperature resilience, positions the pipe-in-pipe solution as the preferred choice for intricate offshore projects. The rising demand for deepwater developments has notably accelerated the implementation of pipe-in-pipe systems in the industry. Europe held largest share of global subsea thermal insulation materials market in 2024 In 2024, Europe held the largest share of the global subsea thermal insulation materials market. Over the past several decades, Norway, the UK, and the Netherlands have made significant investments in offshore exploration and production, fostering sophisticated technical competencies to navigate complex subsea projects. The region continues to extend the operational lifespan of existing offshore fields while introducing new deepwater and harsh-environment ventures to sustain a robust demand for advanced thermal insulation materials. The European market prioritizes safety and operational excellence and exhibits a strong commitment to environmental regulations, which facilitates the effective implementation of reliable subsea thermal insulation solutions. The dominance of subsea thermal insulation materials in the European market can be attributed to the maturity of offshore operations and ongoing field development, paired with stringent regulatory frameworks that govern these activities. Subsea Thermal Insulation Materials Companies The report profiles key companies operating in the subsea thermal insulation materials market, including Aspen Aerogels, Inc. (US), Cabot Corporation (US), AIS (UK), Tenaris S.A. (Luxembourg), Vipo AS (Norway), and Kingspan Group (Ireland). Tenaris S.A. (Luxembourg) manufactures and supplies steel pipe products and associated services, primarily serving the energy industry and various industrial applications. Its clientele includes many of the world's top oil & gas companies. The company operates a fully integrated network of manufacturing, research, finishing, and service facilities across the Americas, Europe, the Middle East, Asia, and Africa. Tenaris's core focus remains on the oil & gas industry. It also provides steel pipes and tubular components for various non-energy applications. In addition, the company is actively engaged in supporting the energy transition by developing and delivering solutions for low-carbon energy initiatives, including geothermal wells, waste-to-energy (bioenergy) plants, hydrogen storage and transportation, and carbon capture and storage (CCS) projects. Kingspan Group (Ireland) is a global leader in insulated panels and high-performance insulation solutions. The group operates through five core segments: Insulated Panels, Insulation, Light, Air + Water, Data Solutions, and Roofing + Waterproofing. Kingspan offers innovative, ultra-high-performance products for piping and ducting applications within the Insulation segment. Through its LOGSTOR business, the company serves the district heating market by providing advanced pre-insulated piping systems. Kingspan LOGSTOR is a member of the Kingspan Group, a leading global provider of complete pre-insulated pipe solutions and services. Headquartered in Løgstør, Denmark, LOGSTOR employs approximately 1,400 professionals across 12 countries. The company operates seven strategically located sites throughout Europe. Kingspan LOGSTOR provides high-performance thermal insulation for the oil & gas industry. AIS (UK), formerly Advanced Insulation Systems, is a global leader in designing, manufacturing, and applying insulation and passive fire protection systems, along with buoyancy and subsea, umbilical, risers, and flowlines (SURF) solutions. Its advanced material technologies exhibit critical performance across various industries and sectors, such as energy, industrial, automotive, chemical, and marine. AIS operates from 14 locations worldwide, supporting a strong global presence. Cabot Corporation (US) is a global specialty chemicals and performance materials company. It offers a diverse portfolio, including reinforcing and specialty carbons, specialty compounds, conductive carbons, carbon nanotubes, fumed metal oxides, inkjet colorants, and aerogel. The company operates manufacturing facilities and maintains business operations in the US and over 20 other countries. Cabot's operations are structured into two primary business segments: Reinforcement Materials and Performance Chemicals. The Performance Chemicals segment is divided into two key businesses: Performance Additives and Formulated Solutions. The Performance Additives business encompasses specialty carbons, battery materials, fumed metal oxides, and aerogel product lines. Through the Performance Chemicals segment, Cabot designs, manufactures, and sells advanced materials that enhance performance across various applications in industries and sectors such as automotive, construction, infrastructure, inkjet printing, electronics, and consumer goods, as well as applications related to the generation, transmission, and storage of energy. The company delivers solutions for rubber mining applications, subsea pipelines, industrial insulation, and others. Aspen Aerogels, Inc. (US) is an aerogel technology company. It designs, develops, and manufactures innovative, high-performance aerogel products primarily for the energy industrial sector, sustainable insulation applications, and the electric vehicle (EV) market. For nearly 20 years, the company has supplied high-performance aerogel insulation solutions to the energy, industrial, and sustainable insulation markets. It operates through the Industrial and Thermal Barrier segments. Aspen Aerogels, Inc. has sales personnel located across North America, Europe, and Asia. The company provides insulation systems for subsea pipe-in-pipe applications. About MarketsandMarkets™ MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report. MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients. Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes. The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. 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