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Home  > Markets & companies  > Raw materials market  > Saudi Aramco acquires Novomer’s polyol bus...

Tuesday, 24 September 2019
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Markets & companies, Raw materials market

Saudi Aramco acquires Novomer’s polyol business

Thursday, 10 November 2016

Saudi Aramco has acquired the "Converge" product line and associated operations and technologies from U.S.-based Novomer Inc. The transaction was valued at up to EUR91.4 million.

Saudi Aramco acquires Novomer’s polyol business and associated technologies. Source: Thommy Weiss/pixelio.de

Saudi Aramco acquires Novomer’s polyol business and associated technologies. Source: Thommy Weiss/pixelio.de

"Converge" is manufactured from and contains a significant portion of carbon dioxide (CO2). The technology provides a high-performance, cost competitive and more sustainable alternative to conventional petroleum-based polyols that are used in coating, adhesive, sealant, and elastomer (CASE) applications which feature in high-value, high-demand end-products, including within the flexible and rigid foam manufacturing segments. Applications cover a broad spectrum from automobile seats to building insulation panels.

Development of new growth areas

Amin H. Nasser, Saudi Aramco President & CEO said: "Some of Saudi Aramco’s most significant achievements in recent years have been in developing new international partnerships in the downstream space. There is compelling industrial logic to the 'Converge' polyol technology deal as it enables the conversion of waste CO2 into cleaner, high-value end-products with significant performance, cost and carbon footprint improvements. The deal also enables the development of new technological growth areas in line with Saudi Vision 2030 objectives of economic diversification and job creation.”

Saudi Aramco will manufacture and market "Converge" and associated products through its subsidiary, Aramco Performance Materials LLC (APM). Saudi Aramco is planning for full-scale production facilities in Saudi Arabia to support the manufacture of specialty and intermediate chemical products to supply a wide variety of industries.

One-third the carbon footprint

Compared to conventional polyols, "Converge" polyols have approximately one-third the carbon footprint. When incorporated into polyurethane formulations, they demonstrates good material performance including: increased strength; increased abrasion, chemical and weather resistance; increased adhesion, hardness and tear-strength; greater load bearing capacity; and reduced heat of combustion.

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