ExxonMobil Chemical Acquires Materia

Recently, ExxonMobil Chemical Company, a subsidiary of ExxonMobil, announced that it has acquired Materia, which produces Proxima thermosetting resins used in oil and gas, chemical, automotive and renewable energy industries. The transaction includes Materia's headquarters and technology center in Pasadena, California, and a manufacturing facility in Huntsville, Texas.

It is reported that ExxonMobil Chemical and Materia have been working together since 2017 to develop new hydrocarbon-based materials that are stronger, lighter and more durable than existing thermosetting products (such as epoxy resin). ExxonMobil Chemical Company said: "In the wind power industry, using these materials can design longer and more durable wind turbine blades, and this material can replace steel in certain construction applications."

It is reported that Materia's key products are also used in subsea insulation materials. Its thermosetting cross-linked hydrocarbon polymer can maintain structural integrity at depths of more than 10,000 feet.