Biome Technologies recently received government funding for using industrial biotechnology methods for producing new product range of the highly sustainable polymers. This initiative is taken up as a part of the company’s £6Million programme. By collaborating with University of Nottingham, the 2 year £0.8Million project will be utilizing organism for producing bioplastics ‘building blocks’ at experimental scale. The bio-based building blocks are expected to be significantly beneficial for usage in production of the recyclable and compostable polymers that are suitable for the purpose of flexible packaging applications, including pouches, which are not recyclable currently.
Biome Technologies has been taking immense efforts in dealing with the increasing plastic waste challenges with the help of these polymers. In addition, the company will also be delivering functionality in a way that it can be of notable competition to the conventional oil-based plastics. Experts in sustainable chemical processing recently mentioned that commercializing sustainable processes demands for innovative blending of the multidisciplinary expertise. The exclusive industrial biotechnology project will benefit the company in reducing its development cycle towards rapid commercialization, which also creates need for cold flow improvers for better processing purposes.
A recent study by Future Market Insights on cold flow improvers market indicates that need for controlling wax formation in the process units as well as growing cases of blockage of pipelines in oil and gas sector is expected to significantly drive the revenue sales in cold flow improvers market.
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Mexico Increases Investments in Oil and Gas Production
Andres Manuel Lopez Obrador, the Mexican President recently revealed the budget plans regarding the region’s oil and gas production. The investment has been increased to US$ 3.65 billion (75,000Million pesos) for bringing about significant improvement in the dwindling production of the oil company owned by the state, namely, Pemex. The state government is expecting the country’s oil and gas production to uptake by 2.4Million barrels of oil each day by the end of 2024. Lately, Pemex had been witnessing significant losses with regards to refining levels owing to in-effective logistics and overuse of pipeline networks along with higher import costs.
By 2019, Mexico is expected to witness manufacturing of more expensive gasoline and oil products, benefitting profitability and will mainly enable in eliminating the probabilities of gang-related fuel robbery. Improvements in six existing refineries is likely to take place in the coming times with the emergence of new facility in Tabasco, which in turn drives the need for cold flow improvers. Most of all, fuel theft is substantially costing the country by nearly $3.5Billion annually, and that calls for advancement in the infrastructure and oil refineries in the region.