Bio & Synthetics
Russian lithium hydroxide producer Khimiko-Metallurgicheskiy Zavod posted more than a tenfold increase of its operating profit to 167 million rubles (U.S. $2.3 million) for 2019, according to the company’s latest earnings report.
The Groningen province in the Netherlands provided a €50,000 (U.S. $54,000) subsidy to support Stadskanaal-based Airgroup’s efforts to develop and produce lubricants based on vegetable oils.
Wider use of synthetic engine oils and a shift to electric vehicles could reduce the threat of environmental contamination from waste oil in the Middle East, a region historically dominated by mineral-based lubricants.
NextChem announced yesterday it was contracted by Sogis Chemical Co. to build a plant that will make oleic acid from residual fats. Oleic acids are intermediates used for production of biobased lubricants.
Croda International Plc announced last week the acquisition of Rewitec GmbH, stating it aims to help the German additive supplier to expand. The companies did not disclose the price of the transaction.
Nynas AB announced this month the introduction of a biobased rubber process oil, saying that it wants to accommodate the tire industrys growing desire for sustainable products.
The European Union is working on a revision of its Ecolabel standard for lubricants. Regulators say the proposed changes will strengthen protections for the environment while also encouraging the development of more environmentally benign products.