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Arkema invests in battery start-up Verkor

July 08/2021

MOSCOW (MRC) -- Arkema has announced its ambition to build on its battery strategy by becoming a shareholder and technological partner of start-up Verkor, said the company.

Arkema becomes a shareholder and technological partner of Verkor, a French start-up specialized in the production of high performance batteries. Arkema, a key player thanks to its cutting-edge materials and innovative solutions that it provides in batteries, in particular for electric vehicles, is thus strengthening its development in batteries and clean mobility.

Arkema contributed several million euros to Verkors recent EUR100 million round of fundraising, which will enable the construction of the Verkor Innovation Center near Grenoble, then the launch of the first Gigafactory dedicated to battery production whose construction is expected to start in 2023. The Verkor Innovation Center, which should be operational in 2022, will provide a collaborative space to optimize smart industrial processes and create new generations of batteries.

As er MRC, Arkema is further increasing its fluoropolymer production capacities in Changshu, China, by 35% in 2022. The increase in capacity is scheduled to come on stream before the end of 2022, the company said in a statement. Financial and overall capacity details of the expansion project were not disclosed.

Trinseo completed the acquisition of Arkema's PMMA business for EUR1.14 billion. The EUR1.14 billion deal was announced in December and was expected to be completed by mid-2021. The company has seven PMMA plants, four in Europe and three in North America. Products are marketed under the Plexiglas brands in the Americas and Altuglas in the rest of the world.

Arkema's PMMA Manufacturing is an integrated business from methyl methacrylate (MMA) to PMMA, marketed under the Plexiglas brands in the Americas and Altuglas in the rest of the world.

According to ICIS-MRC Price report, global polyvinyl chloride (PVC) prices are no longer putting pressure on the Russian market. During the summer months, an acute shortage is the main factor behind the price rise in Russia. At the same time, the shortage of resin intensified in July due to scheduled shutdowns for maintenance at the two largest plants. An acute shortage led to another wave of price increases, and July PVC prices increased by Rb5,000-47,000/tonne, reaching new record levels.

Arkema is one of the world's leading chemical manufacturers headquartered in Colombes (near Paris, France). Founded in 2004 as a result of the restructuring of the French oil company Total, Arkema, with a turnover of EUR6.5 billion, has operations in 40 countries, 10 research centers around the world, and 85 factories in Europe, North America and Asia.
Author:Anna Larionova
Tags:petroleum products, crude oil, PVC, neftegaz, petrochemistry, Arkema, Kem One (Arkema), Trinseo (Styron).
Category:General News
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