| WTI Crude | $40.59/bbl | +0.2% |
| Brent Crude | $43.28/bbl | +1.3% |
| HH Nat Gas | $1.76/MMBtu | +2.9% |
| MB Propane | $0.49/gal | +3.1% |
| 3:2:1 Crack | $10.38/bbl | +5.1% |
Ascend's new facemask material is killer
Houston-based Ascend Performance Materials, leader in nylon 6/6 resins, announced that it has submitted an FDA 510(k) for clearance to market a new facemask fabric. The nylon 6,6 fabric absorbs moisture droplets to activate the zinc ions, and those activated zinc ions can kill 99% of the COVID-19 virus (video explanation).
How is this unique?
Medical grade masks like the N95 respirator are effective because they trap particles though many layers of filters. They are made for one-time use and are the best filter widely available for the virus. But Ascend's new material isn't just a filter, it actually destroys the virus as well.
Read the press release here.
Dow has been working on the railroad
Headquartered in Michigan, global corporation Dow Chemical has announced the divestment of their rail assets for $310 million. The rail infrastructure and related equipment are being sold to Kansas-based transportation company Watco.
Why are they selling the assets?
Dow is looking to grow their core businesses (commodity plastics and chemicals) in what the CEO of Dow calls a "capital-efficient manner". This sale provides Dow with cash they can reinvest into assets that produce products.
Why did they own this in the first place?
By owning their own rail assets they had cost advantages over competitors when it came to shipping. Fortunately for Dow, Watco has agreed to enter into long term service agreements at similar prices.
Read the press release here.
ExxonMobil gives more money to a university
Multinational oil and gas corporation, ExxonMobil, has announced the renewal of a research collaboration with Princeton University. The collaboration was first enacted in 2015 and aims to discover lower-emission technologies and energy solutions. The university challenges ExxonMobil scientists to ask fundamental scientific questions, and ExxonMobil scientists challenge the university to consider the practicality of scaling technologies.
So what are they doing?
Exxon is the world leader in carbon capture, having sequestered more carbon in the last 20 years than any other company, and this partnership aims to increase their lead. The research from Princeton has narrowed their focus on CO2 sequestration and carbonate fuel cells.
Read more here.