TAGS: Industrial Coatings
ExxonMobil Chemical Company has acquired California-based Materia, Inc., a technology company that has pioneered the development of a Nobel prize-winning technology for manufacturing a new class of materials. The innovative materials can be used in a number of applications, including wind turbine blades, electric vehicle parts, sustainable construction, and anticorrosive coatings.
Corrosion-resistant Innovative Materials
In the wind power industry, these benefits could enable the design of longer, more durable wind turbine blades for more efficient renewable electricity production. Due to their strength, the materials could also be used as a light-weight, corrosion-resistant replacement for steel in certain construction applications.
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We are reimagining how new hydrocarbon-based materials can form the building blocks to help multiple industries achieve a more sustainable future,” said Karen McKee, president of ExxonMobil Chemical Company. “
This acquisition ties together Materia’s Nobel Prize-winning technology with ExxonMobil’s complementary proprietary technology and world-class manufacturing capabilities to bring this exciting new class of structural materials to commercial scale.”
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The combination of Materia’s innovative culture, dedicated employees and cutting-edge technology with ExxonMobil’s expertise and scale in bringing new technology to market will open up an exciting new chapter for Materia,” said professor Robert Grubbs, Nobel Laureate and co-founder of Materia.
“ExxonMobil’s acquisition significantly expands the growth opportunities for this unique technology.”
The acquisition includes Materia’s headquarters and technology center in Pasadena, California and its manufacturing facility in Huntsville, Texas. ExxonMobil intends to operate the business under the Materia company name as a wholly owned affiliate.
Source: ExxonMobil