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Tag: Germany

DOMO files for insolvency

Three German subsidiaries of the Belgian chemical group DOMO Chemicals have filed for insolvency, following weak demand in the European chemicals sector, high energy costs and a significant increase in imports of polyamide resins from outside the European Union, in particular from China. Court appointed administrator Prof. Lucas F. Flöther said that day-to-day operations would continue for the time being. Around 585 employees are affected across the three companies; DOMO Chemicals GmbH and DOMO Caproleuna GmbH in Leuna and DOMO Engineering Plastics GmbH in Premnitz.

Lyten acquires Northvolt

Lyten, a global leader in lithium-sulphur batteries has entered into a binding agreement to acquire Northvolt’s assets in Sweden and Germany. The acquisition includes Northvolt Ett and, Northvolt Labs in Sweden and Northvolt Drei in Germany. Additionally, Lyten is acquiring all remaining Northvolt intellectual property. The financial terms of the agreement were not disclosed. In total, Lyten’s acquisition includes assets valued at approximately $5 billion, including 16 GWh of existing battery manufacturing capacity, more than 15 GWh of capacity under construction, the infrastructure and plans to scale to more than 100 GWh, and the largest and most advanced battery R&D centre in Europe.

Funding for green hydrogen plant

Linde has received a e4.3 million ($4.7 million) funding commitment to build a new 5MW alkaline electrolysis plant in Leuna, Saxony-Anhalt, adding to the region’s growing hydrogen infrastructure. The project, which complements Linde’s existing 24 MW facility, is scheduled for commissioning by the end of 2026 and is expected to produce 450 t/a of green hydrogen for local industrial customers via pipeline distribution. The funding was formally awarded on August 13 by Saxony-Anhalt’s Economics Minister Prof. Dr. Armin Willingmann, backed by the state’s “Future Energy” programme and the EU’s European Regional Development Fund (ERDF).