ExxonMobil Acquires American Materials Company Materia

According to Hydrocarbon Processing News on December 7th, ExxonMobil Chemical Company acquired California-based Materia, a technology company that first developed the Nobel Prize for the manufacture of new materials. Technology. This innovative material can be used in a variety of applications, including wind turbine blades, electric vehicle parts, sustainable construction and anti-corrosion coatings.

Since 2017, ExxonMobil and Materia have been collaborating to develop new hydrocarbon materials that are stronger, lighter, and more durable than existing thermoset products (such as epoxy resin). In the wind power industry, these advantages allow the design of longer and more durable wind turbine blades to achieve more efficient renewable electricity production. Due to its strength, this material can also be used as a lightweight, corrosion-resistant alternative to steel in certain construction applications.

Karen McKee, President of ExxonMobil Chemical Company, said: “We are reimagining how new hydrocarbon materials constitute building blocks to help multiple industries achieve a more sustainable future. This acquisition will bring Materia’s Nobel The award-winning technology is combined with ExxonMobil’s complementary know-how and world-class manufacturing capabilities to bring this exciting new structural material to commercial scale."

This material utilizes a revolutionary catalyst discovered by Dr. Robert Grubbs, a professor at California Institute of Technology, and his research team. Grubbs won the 2005 Nobel Prize in Chemistry for these discoveries.

Robert Grubbs, Nobel Prize winner and Materia co-founder, said: “Materia’s innovative culture, dedicated employees and cutting-edge technology are comparable to ExxonMobil’s expertise and scale in bringing new technologies to market. The combination will open an exciting new chapter for Materia. The ExxonMobil acquisition greatly increases the growth opportunities of this unique technology."

The acquisition includes Materia's headquarters and technology center in Pasadena, California, and a manufacturing facility in Huntsville, Texas. Exxon Mobil intends to operate the business under the name of Materia as a wholly-owned subsidiary.