1 July 2026
New capacity and refinery investment led the week across the chemical value chain. Air Liquide committed over $170M in Indiana to build industrial‑gas supply for SK hynix's new U.S. HBM fab, while Neste earmarked more than €400M for a major turnaround at its Porvoo refinery. On the polyurethanes side, Covestro outlined a 660 kt MDI train in Shanghai alongside a feasibility study for a second world‑scale plant in the UAE. Financing flowed into specialties too, with Nextchem (MAIRE) completing its acquisition of the Ballestra Group, including Mazzoni and BUSS ChemTech. Read on for the deals, pilots and approvals across chemicals and adjacent markets this week.
Industry Trends
Sustainable Feedstocks & Circularity
Acelen Renewables and Trafigura signed a strategic agreement securing UCO feedstock and renewable‑fuel offtake for the Bahia biorefinery. Upstream of packaging, Avantium is collaborating with bottle maker Gepack and beverage producer Frubaça on plant‑based PEF in shot‑size bottles, and Symrise’s Closing the Hydrogen Loop cut fresh hydrogen use ~80% in cosmetic‑ingredient production. Together these moves point to waste‑to‑value contracting and process circularity being embedded alongside performance requirements. Near‑term, more multi‑year feedstock deals and format pilots are likely as SAF/HVO mandates and retailer packaging targets come into force.
Decarbonization & Low‑Carbon Technologies
Industrial pilots are targeting hard‑to‑abate heat and feedstocks: Hycamite joined the FutSteel research project to apply methane cracking for low‑carbon hydrogen and solid carbon in steel, and Coolbrook’s RotoDynamic Heater advanced electrified high‑temperature heating. On carbon removal, Siemens is scaling electrochemical Direct Air Capture via a standardized automation platform. At refineries, the green hydrogen project at Castellón refinery secured EU funding reallocation, aiming for start‑up in 2026. Implementation will hinge on integration costs, certification pathways and reliable renewable power, shaping adoption curves across metals and fuels.
Regulatory Reforms & Compliance Challenges
Policy remained a central variable: the European Commission opened an antidumping investigation into imports of polyether polyols from China, citing rising market share losses for EU suppliers. Energy exporters urged clarity in a joint open letter on the EU Methane Regulation, requesting transitional mechanisms to manage contractual risk. In Japan, low‑carbon ammonia imports advanced under a plan certified under Japan’s price‑gap scheme, signalling use of public support to bridge cost differentials. Provisional duties, transitional compliance and support schemes are set to influence sourcing, pricing and contract structures into the next decade.
Digital Transformation & AI Integration
Digital programs continued to target efficiency and time‑to‑value: thyssenkrupp and GlobalLogic formed a strategic alliance to deploy autonomous robotics and Physical AI across heavy industry. In R&D‑to‑scale, BASF and Bota Biosciences announced SkinNexus Collag3n, discovered via an AI‑driven biofoundry and now commercialized. In operations, Metsä Group and Finnish AI and quantum company Qutwo are applying next‑generation AI to mill converting lines and wood procurement.
Energy Transition Investments
New capacity and contracting continued to underpin electrification: Enel started up the 330 MW Impofu Wind Farm cluster delivering wheeled power to Sasol and Air Liquide; Iberdrola inaugurated the 243 MW Fénix photovoltaic plant in Italy under long‑term PPAs. On the buyer side, Uniper signed a long‑term Power Purchase Agreement for electricity from the Gennaker offshore wind project. Grid equipment build‑out is keeping pace, with Siemens will invest €300 million to expand production of medium‑voltage and high‑performance switchgear. As electrified loads rise, more PPA‑anchored projects and domestic equipment investments are likely to manage supply risk and lead times.
Innovation to Commercialization in Bio & Specialties
Specialty players advanced scale‑up and regionalization: Asahi Kasei’s forward osmosis–membrane distillation system entered manufacturing‑scale API trials to de‑risk GMP adoption, while Borouge introduced Queo 7030LA‑P, a new polyolefin elastomer for high‑flow, soft TPOs and adhesives. Go‑to‑market proximity increased with a new Guangzhou facility that brings together Croda Beauty Actives and Iberchem Fragrances. In regulated biologics, WuXi Biologics secured ANVISA GMP certification for three sites, enabling commercial supply to Latin America.
In Brief
Project Updates and Milestones
- QatarEnergy and ExxonMobil declare commercial discovery for Block 10 (Glaucus & Pegasus)
- EnviTec Biogas secures awards for ~16 MW in German EEG auction
- Enel Green Power RSA commissions 330 MW Impofu wind cluster with Sasol and Air Liquide PPAs
- WuXi Biologics secures ANVISA GMP for MFG2, DP1 and DPPC to enable commercial anti‑PD‑L1 manufacturing
- Yara drops LCEC ammonia acquisition and reallocates capital
- IHI-led seven-company low-carbon ammonia plan certified under Japan's price-gap scheme
- OMV Petrom & CE Oltenia advance 550 MW solar build with first panel deliveries
New Projects and Expansions
- EIB lends €125m to Orano to build Orano Med’s ATEF for thorium‑228 production
- Air Liquide to invest over $170M in Indiana to supply SK hynix U.S. HBM fab
- Hycamite joins FutSteel to integrate hydrogen and carbon into steel production
- Covestro plans 660 kt MDI train in Shanghai and UAE feasibility study for second world-scale plant
- EIB backs Lact'Union with €50m loan for 2026–2029 industrial upgrades
- Eni takes 32% stake in Vaca Muerta blocks for Argentina LNG
- Statkraft proposes new Mår hydropower plant
Mergers, Acquisitions, and Partnerships
- Sumitomo Corporation to transfer 70% of S.C. Cement to Sumitomo Osaka Cement
- OCI recommends NNS EUR 4.10 all-cash offer; court-appointed directors consent to convene EGM for Orascom vote
- Eni and Mercuria form equal global energy trading joint venture
- Messer expands Southeast Asia footprint with acquisitions in Singapore and Malaysia
- Shell to sell Na Kika 50% stake and Coulomb tieback to Talos and Ridgewood for $1.7bn
- INEOS Enterprises sells INEOS Calabrian to Ecovyst for $190 million
- Equinor and Vår Energi complete asset swap in Troll–Gjøa area
Innovation and Product Development
- BASF and Bota launch SkinNexus Collag3n, AI-developed human-identical Collagen III
- Avantium trials PEF in shot-size beverage bottles with Gepack and Frubaça
- Coolbrook awarded €2.5m Business Finland grant to accelerate RDH electrification for steel
- Novo Nordisk to present denecimig and concizumab data at ISTH 2026
- Borouge launches Queo 7030LA-P polyolefin elastomer
- Clariant HYTREAT ECO — OSPAR‑compliant low‑dosage anti‑agglomerant for North Sea
- Genmab: EPCORE DLBCL-4 shows PFS benefit for epcoritamab plus lenalidomide
Operational Changes and Investments
- Neste to invest over EUR 400 million in Porvoo refinery turnaround
- AIQBE posts record €827M investment in industrial infrastructure
- EnviTec Biogas wins EEG tender for around 16 MW
- XRG to acquire 32% upstream stake in Vaca Muerta for ARGENTINA LNG
- Eni and NOC start Sabratha Compression Project to boost Libya gas output
- Croda opens Guangzhou hub for Beauty Actives and Iberchem fragrances
- EEW and enercity raise Hannover-Lahe waste-to-energy heat output to up to 85 MW
Sustainability and Environmental Initiatives
- Symrise wins L'Oréal 2026 Energy Award for 'Closing the Hydrogen Loop'
- Trinseo raises climate and renewable targets in FY2025 sustainability report
- Nobian marks five years advancing raw-material production and sustainable chemistry in Europe
- Mitsubishi Gas Chemical and Gold Hydrogen MOU for green methanol from natural hydrogen in South Australia
- ORLEN launches HVO100 pilot in Slovakia
- North Sea Port supports FLHYPorts hydrogen valley pilot
- Uniper signs 100 MW offshore wind PPA with Skyborn for Gennaker
Financial Performance and Strategy
- Evonik raises 2026 outlook after Q2 ahead of plan
- Nextchem (MAIRE) completes acquisition of Ballestra Group including Mazzoni and BUSS ChemTech
- Saipem sells Saudi shallow-water drilling unit to ADES for $285m
- Ecovyst completes acquisition of Calabrian SO2 and derivatives business
Executive Appointments and Governance Changes
- BASF Coatings names Executive Committee for standalone company effective July 1, 2026
- OCI court-appointed independent non-exec directors continue review of NNS cash offer
Regulatory and Compliance Updates
- EU Commission opens antidumping probe into Chinese polyether polyols after PCC Rokita complaint
- Roche’s Enspryng wins FDA Priority Review for at‑home subcutaneous TED treatment
- Lilly's Jaypirca recommended by CHMP for EU approval in CLL across all therapy lines
- Johnson & Johnson: CHMP recommends TECVAYLI plus daratumumab for relapsed/refractory multiple myeloma
- Qatar pushes EU to amend Methane Regulation in joint open letter
- Vattenfall: Swedish state to acquire 60% of Videberg Kraft
- GSK commences tender offer for Nuvalent
Workforce and Corporate Social Responsibility (CSR)
- Petrobras to restart UFN-III nitrogen fertilizer plant in Três Lagoas
- Siemens invests €300m in Germany to expand switchgear production
- PETRONAS logs three successes in Suriname Block 52
Crisis and Risk Management
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