Exxon Mobil Chemical Co. 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 company said on Dec. 7. The innovative materials can be used in a number of applications, including wind turbine blades, electric vehicle parts, sustainable construction, and anticorrosive coatings.
Exxon Mobil and Materia have been collaborating since 2017 on the development of new hydrocarbon-based materials that are stronger, lighter and more durable than existing thermoset products such as epoxy. 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.
“We are reimagining how new hydrocarbon-based materials can form the building blocks to help multiple industries achieve a more sustainable future,” Karen McKee, president of Exxon Mobil Chemical Company, said. “This acquisition ties together Materia’s Nobel Prize-winning technology with Exxon Mobil’s complementary proprietary technology and world-class manufacturing capabilities to bring this exciting new class of structural materials to commercial scale.”
The materials take advantage of revolutionary catalyst discoveries made by professor Dr. Robert Grubbs and his research team at the California Institute of Technology. Grubbs received the 2005 Nobel Prize in Chemistry for these discoveries.
“The combination of Materia’s innovative culture, dedicated employees and cutting-edge technology with Exxon Mobil’s expertise and scale in bringing new technology to market will open up an exciting new chapter for Materia,” Professor Robert Grubbs, Nobel Laureate and co-founder of Materia, said. “Exxon Mobil’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. Exxon Mobil intends to operate the business under the Materia company name as a wholly owned affiliate.
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