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tcetoday news: Evonik buys Imperial College spin-off

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8/3/2010

Evonik buys Imperial College spin-off

   
MET will tap growth markets

by Helen Tunnicliffe

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MET has clients in the US, Europe and the Far East

 

GERMAN specialty chemicals company Evonik has acquired Membrane Extraction Technology (MET), a spin-off company from Imperial College London.

 

The deal was finalised on 1 March 2010 and will see Evonik gain MET’s proprietary separation technology for the pharmaceuticals and fine chemicals industries. The company’s organic solvent nanofiltration technology can be used in heavy metal removal, catalyst recovery and recycling, product purification, and solvent exchange. MET supplies UOP’s Starmem membranes but has also developed proprietary second generation DuraMem membranes made from modified polyimide. MET has clients in the US, Europe and the Far East.

 

Evonik says that MET will enable it to strengthen and expand its P84 fibres and high performance polymers business, and complements its process competence and global market presence.

 

Andrew Livingston, MET’s ceo, says: “The synergies between MET and Evonik make a compelling case for this excellent deal and will make the combination company a leading player in organic solvent nanofiltration (OSN).”

 

Membrane Extraction Technology was the subject of a tce article in April 2009.