ExxonMobil Acquires Materia, Inc., a High-Performance Structural Polymers Company
December 07 2021 - 11:13AM
Business Wire
- Plans to bring Nobel Prize-winning technology to commercial
scale
- New class of hydrocarbon-based materials with performance and
sustainability advantages
- Materials could enable more durable, efficient wind turbine
blades for energy transition
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.
ExxonMobil 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,” 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.”
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 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.
About ExxonMobil ExxonMobil, one of the largest publicly
traded international energy companies, uses technology and
innovation to help meet the world’s growing energy needs.
ExxonMobil holds an industry-leading inventory of resources, is one
of the largest refiners and marketers of petroleum products, and
its chemical company is one of the largest in the world. To learn
more, visit exxonmobil.com and the Energy Factor. Follow us on
Twitter and LinkedIn.
About Materia Materia was founded in 1999 to
commercialize a group of ruthenium catalyst technologies developed
by Nobel Prize winner Dr. Robert Grubbs and his research group at
Caltech. In recent years the company has focused on developing
Proxima™ polymers with commercial success in subsea pipeline
insulation, molding of parts for industrial applications, and
various composite applications like composite rebar for concrete
reinforcement.
Cautionary Statement: Statements of future events or conditions
in this release are forward-looking statements. Actual future
results, including the application of new technologies to new
industrial processes, could differ materially due to manufacturing
or operating requirements; political or regulatory developments;
future technological developments; technical or operating factors;
future testing of material properties and applications; and other
factors cited under the caption “Factors Affecting Future Results”
on the Investors page of our website at exxonmobil.com.
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