NextChem also has an option to acquire the remaining 16.5% stake within the next three years. The acquisition is expected to close by Apr. 15. Financial terms were not disclosed.

Conser’s portfolio includes technologies for maleic anhydride, butanediol and dimethyl succinate, the building blocks for producing biodegradable plastics, in particular polybutylene succinate (PBS) and polybutylene adipate co-terephthalate (PBAT).

PBS and PBAT have excellent biodegradation properties, said Maire Tecnimont, adding that their relevant markets show very promising outlooks, driven by growing demand, especially in Asia, where Conser has licensed more than half of the region’s plants during the past year.

Conser’s portfolio also includes technologies for liquid organic hydrogen carriers, specialties for lithium-based batteries production and bio-based (vegetable glycerine) derivatives.

“This important step enables Maire Tecnimont Group to expand its technology portfolio in the sustainable chemicals area. We will integrate our value proposition as a licensor and a technology-driven energy services provider with new innovative solutions to support global markets in the progressive shift towards a more sustainable economy,” said the engineering group’s CEO, Alessandro Bernini.

Earlier this month, Maire Tecnimont announced that it had signed a $1.3 billion lumpsum contract for engineering, procurement and construction services on the QatarEnergy and Chevron Phillips Chemical (CPChem) joint polymers project in Ras Laffan, Qatar.

QatarEnergy this month took a final decision to proceed with the $6 billion complex, which is now scheduled to start up in 2026. The project includes a 2.1 million t/y ethane cracker and two downstream hdPE plants with total capacity of nearly 1.7 million t/y.

Author: Elaine Burridge, Freelance Journalist