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ExxonMobil acquires American materials company Materia
On Dec.
7, ExxonMobil announced the acquisition of a company
that uses Nobel Prize-winning technology to develop new hydrocarbon materials.
The acquired company, Materia, based in California, pioneered the use of a Nobel Prize-winning technology to develop new materials
for applications as diverse as wind turbine blades, electric vehicle components, sustainable construction and anti-corrosion coatings.
The material leverages the revolutionary catalyst
discovered by Caltech professor Robert Grubbs and his research team.
Grubbs won the 2005 Nobel Prize
in Chemistry for these discoveries.
Since its inception in 1999, Matria has been committed to the development and commercialization of these new ruthenium catalysts
.
Materia's flagship polymer range uses these catalyst technologies to produce hydrocarbon products
with significant performance and sustainability benefits.
The acquisition includes Materia's headquarters and technology center in Pasadena, California, and its facility
in Huntsville, Texas.
ExxonMobil intends to operate the business
as a wholly-owned subsidiary under the name Materia.
