Sumitomo Chemical, along with private equity firm Outlook Investment Group, has announced an investment in Sweegen, a maker of stevia-based sweeteners for the food market. Terms of the investment, including its size, have not been disclosed. Sweegen launched a product line of stevia sweeteners combined with modulators, mouthfeel, and texture ingredients earlier this year.
The investment will help fund the expansion of a manufacturing site in Europe to produce 3,000 metric tons/year of stevia sweeteners, Sweegen says. “We are developing our strategic partnership with SweeGen to be part of the continuous success in providing the natural sweetener market with the latest innovations and advanced technologies, and also extending our established relationship into new ventures in the field of synthetic biology,” says Hiroshi Ueda, vice president at Sumitomo Chemical.
By Vincent Valk
Source: Chemical Week
The investment enables the steam cracker to increase the share of renewable and recycled raw materials used in its (ethylene and propylene) production. The move supports the Borealis Strategy 2030 for a circular economy. The Porvoo investment program is expected to be completed in 2025.
Murray Auchincloss, bp’s CEO, said in a statement: “As I set out in February, BP’s destination from IOC [international oil company] to IEC [integrated energy company] is unchanged – and we need to deliver as a simpler, more focused, and higher-value company.
Founded in 1972, Tecnofilm has expanded its product portfolio over the years to offer a wider range of compounds and functional polymers for various industrial applications and technical articles. The company has patented several of its products.