Miles Robinson, partner, and Daniel Cook, senior associate, at international law firm Mayer Brown, discuss the key considerations in the chemicals industry when drafting contracts post-Brexit
The American Chemistry Council (ACC) has issued a set of policy recommendations, which, it says could “enable dramatic reductions in greenhouse gas emissions” and help the administration to achieve its climate goals. Specifically, it called on Congress to enact legislation to
1. Increase government investment and scientific resources to develop and deploy low emission technologies in the manufacturing sector
2. Adopt transparent, predictable, technology- and revenue-neutral, market-based, economy-wide carbon price signals; and
Earth Day, 22 April, saw a world first in the launch of the first product using a surfactant made from industrial carbon emissions. This was developed by Unilever, LanzaTech and India Glycols (IGL), and was used in an Omo laundry capsule in China.
As part of its expansion plans for this year, Charnwood Molecular, a UK-based pre-clinical discovery CRO to the pharmaceutical and biotechnology market, has become the sole occupier of a three-storey laboratory facility at Charnwood Campus in Loughborough. This is being funded with support from European private equity fund Synova, which recently took a stake in the company.
Following press speculation, it has been confirmed that Innospec made an offer to acquire Elementis for £1.60/share on 31 March and that this was rejected on 9 April. Innospec is no longer pursuing the matter.
Elementis said that its board, together with its management and advisers, assessed the offer against its own valuation framework concluded that it “fell meaningfully short of the value creation potential” of the current strategy, particularly in view of “the strong momentum in the business” after a strong start to the year. They therefore unanimously rejected it.
Three major US synthetic biology companies - Antheia, Genomatica and Ginkgo Bioworks – have launched the Synthetic Biology (SynBio) Coalition. Its stated aim is to promote investment in and support for the industry in the US, in partnership with the federal government.
“The coalition believes that continued investment in synthetic biology, research infrastructure and manufacturing capacity is critical to realising the full potential of this industry and maintaining American global leadership,” the firms stated.
Merck KGaA is to spend €20 million to expand the R&D and manufacturing capabilities at its site in Shizuoka, Japan, where it opened a 6,000 m2 facility in January. Due to be complete by January 2022, this will mainly address demand in areas driven by the digital economy boom.