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LyondellBasell achieves renewable enegery milestone

LyondellBasell announced it has made another step forward in its journey to net zero greenhouse gas (GHG) emissions. The company signed two additional long-term renewable electricity power purchase agreements (PPA) with Buckeye Partners for a total of 165 megawatts (MW) to be sourced from Buckeye’s solar farms currently under construction in north Texas. This announcement is another example of the progress LyondellBasell is making towards achieving its 2030 goal of procuring at least half, approximately five million megawatt hours (MWh) per year, of its current electricity consumption from renewable sources.

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Ashland reports strong financial results for third quarter of fiscal year 2022

Sales were $644 million, up 19 percent versus the prior-year period. Each of the company’s reportable segments achieved double-digit sales growth compared to the prior year. Demand remains strong across the company’s resilient end markets. The year-over-year sales growth was driven primarily by disciplined pricing leading to cost recovery in a high-inflation environment and improved product mix. Foreign currency negatively impacted sales $26 million, or five percent.

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Flame retardants market to reach $9.2 billion by 2027

The flame retardants market is projected to reach USD 9.2 billion by 2027, at a CAGR of 5.1 % from USD 7.2 billion in 2022 according to MarketsandMarkets. The global flame retardants market is estimated to be USD 7.2 billion in 2022 and is projected to grow at a CAGR of 5.1% during the forecast period. The growth of the market is mainly triggered by the growth of end-use industries and increasing regulations for fire safety. Growth opportunities are expected to be governed by the innovation in technology, and the development of more effective synergist compounds to boost the performance of flame retardants. In addition, the growth is largely driven by factors such as an increase in fire accidents in various industries and fire safety guidelines.

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Christian Eidt appointed CFO for Davis -Standard

Davis-Standard announced that Christian Eidt has been appointed Chief Information Officer. In his new role, Eidt will be an integral part of Davis-Standard’s senior management team, charged with transforming IT capabilities as the company moves toward an increasingly digital and data-enabled industrial environment. He will be responsible for IT strategy, corporate systems, data and analytics, and cyber security.

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Department of Energy awards $3 million to polySpectra and Fortify to develop olefin resin-based composites for automotive use

The DOE announced a selection of 30 projects that will receive $57.9 million in funding from the Advanced Manufacturing Office (AMO). The DOE awarded $3 million to polySpectra and Fortify, along with National Renewable Energy Laboratory, MPI Systems, RePliForm Inc, and Oak Ridge National Laboratory to develop durable direct additive tooling for automotive lightweighting via Cyclic Olefin Resin-based composites

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