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solutia.com

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Investments

1

Portfolio Exits

1

About Solutia

Solutia, founded in 1997, is a high performance chemicals and specialty materials manufacturer.

Solutia Headquarter Location

575 Maryville Centre Drive

St. Louis, Missouri, 63141,

United States

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Latest Solutia News

Monsanto successor companies to pay $17.9M for landfill cleanup

Dec 16, 2021

Monsanto successor companies to pay $17.9M for landfill cleanup Solutia Inc. and Pharmacia LLC have agreed to take responsibility for the EPA’s cleanup plan of four former landfills and waste lagoons in Sauget, Illinois. Two successor companies of St. Louis, Missouri-based Monsanto have agreed to complete the cleanup of four former landfills and waste lagoons in Sauget, Illinois. Under a federal settlement by the U.S. Environmental Protection Agency (EPA) , Solutia Inc. (acquired by Eastman Chemical Co. in 2012) and Pharmacia LLC (acquired by Pfizer Inc. in 2003) are required to reimburse the EPA $700,000 in past costs spent at the sites and take responsibility for implementing the EPA’s cleanup plant, which is estimated to cost $17.9 million. “This settlement is one in a series that requires the industry that polluted Sauget and Cahokia, Illinois, to clean up their mess,” says Deputy Assistant Attorney General Bruce S. Gelber of the Justice Department’s Environment and Natural Resources Division. “This settlement demonstrates the Justice Department’s and EPA’s continuing efforts, together with our state partners, to ensure that polluters, not the American public, pay for the investigation and cleanup of Superfund sites.” The selected sites—designated as Sauget Area 2 Sites O, Q, R and S—span over 270 acres and were previously used by area industry to dispose of hazardous and other wastes throughout much of the 20th century. The hazardous waste includes toxic substances and known carcinogens, including PCBs, dioxin, lead, cadmium, benzene and chlorobenzene. According to the EPA, the industrial area is not readily accessible to the public, however; the remedial actions required under this settlement will prevent exposure to these harmful contaminants for workers, anglers or others who gain access to the sites. The cleanup will require placing engineered caps over identified waste areas, conducting vapor intrusion mitigation and controlling access to the sites. This is only the latest in various lawsuits and settlements involving the cleanup of these former landfills dating back 15 years in which Solutia and Pharmacia have conducted extensive investigations, paid for the removal of hazardous wastes and installed a slurry wall to prevent contaminated groundwater from leaching into the nearby Mississippi River. “For too long, residents in the Metro East area have been overburdened by legacy sources of pollution,” says Administrator Debra Shore of EPA’s Region 5. “[This] settlement is the result of years of EPA’s efforts to investigate the extent and sources of soil and surface water contamination in the four former landfills that make up Sauget Area 2, and to hold accountable those who placed it there.” Slovakia-based Sensoneo and France-based Birdz, a subsidiary of Veolia, have announced reaching a “partnership aimed at accelerating their joint development in the international market of intelligent management and recovery of waste.” Sensoneo describes itself as a provider of “ smart sensors  with advanced tracking and monitoring equipment and sophisticated software” designed to provide “digital transformation and data-driven decision making” for generators and collectors of waste and recyclables. Birdz describes itself as “a pioneer in remote monitoring of water consumption” with more than 3 million connected sensors deployed worldwide. “The partnership with Sensoneo started from a simple observation: In France as well as globally, the current waste recovery offer only covers very little of the collection part,” says Christian Carrara of Birdz. “Waste is collected at predefined times which are in fact not correlated with the actual rate of filling of the Dumpsters. Optimizing collection would allow communities to reduce costs, avoid unnecessary travel to improve their environmental performance and provide better service to their fellow citizens to prevent them from finding themselves in front of Dumpsters [that are] full.” Sensoneo says its Smart Waste line (Asset Management, Waste Monitoring and Collection Planner), succeeds in shrinking waste collection routes by from 30 to 63 percent, “which directly impacts emissions and fuel and enables customers to monitor actual waste production with 97 percent accuracy.” This partnership is being designed to allow the two firms to “combine their expertise to bring an innovative and complete Smart Waste solution to the international market.” The offer will initially focus on Voluntary Contribution Points (PAVs – street bins with either public or private access) and will then extend to access control issues. The two firms say that aspect of collection is “particularly interesting for local authorities setting up incentive pricing systems according to the principle of polluter pays.” “We greatly appreciate the opportunity to partner with Birdz,” states Martin Basila, CEO and co-founder of Sensoneo. “They have succeeded in becoming leaders in environmental IoT [internet of things] and we believe the combination of the know-how of our parties has the power to tangibly transform the way cities and businesses operate when it comes to waste. We look forward to the opportunities that our cooperation will bring.” Birdz says it has been extending its long-time presence in the “smart water” market into other “smart city” issues for several years, including the waste and recycling collection sectors. Birdz  and Sensoneo say they aim to launch a joint product to the market by the first quarter of 2022. BioHiTech Global Inc. , a circular economy and sustainability technology services company based in Chestnut Ridge, New York, has rebranded to Renovare Environmental Inc. and will now be traded on the Nasdaq under the symbol RENO. “We believe that our new company brand, Renovare, the Latin root of the word Renew, better describes our mission of creating and providing sustainable technologies and services that address the use and reuse of waste material,” says Anthony Fuller, CEO of Renovare. “We are pleased to introduce this new branding of the company, which we believe better illustrates its current direction and will serve us well in the execution of our business and strategic initiatives as we strive to contribute to the circular economy in the coming year.”

Solutia Investments

1 Investments

Solutia has made 1 investments. Their latest investment was in ChemConnect as part of their Series C on April 4, 2000.

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Solutia Investments Activity

investments chart

Solutia Portfolio Exits

1 Portfolio Exit

Solutia has 1 portfolio exit. Their latest portfolio exit was ChemConnect on July 10, 2007.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

7/10/2007

Acquired

1

Date

7/10/2007

Exit

Acquired

Companies

Valuation

Acquirer

Sources

1

Solutia Acquisitions

1 Acquisition

Solutia acquired 1 company. Their latest acquisition was Etimex Solar (subsidiary of Etimex Holding Co.) on June 26, 2010.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

6/26/2010

$99M

Acquired

Date

6/26/2010

Investment Stage

Companies

Valuation

$99M

Total Funding

Note

Acquired

Sources

Solutia Team

6 Team Members

Solutia has 6 team members, including former President, Rich Altice.

Name

Work History

Title

Status

Rich Altice

President

Former

Tim Feast

President

Former

Ed Robinson

Acadia Harvest, Cambrex, Lonza Biologics Tuas, Genencor International, and Kodak

President

Former

Kent Davies

Haemonetics, Sterilmed, Stryker, United Industries, Kimberly-Clark Corporation, 3M, and General Mills

Senior Vice President

Former

Nadim Z Q

CRA International

Senior Vice President

Former

Name

Rich Altice

Tim Feast

Ed Robinson

Kent Davies

Nadim Z Q

Work History

Acadia Harvest, Cambrex, Lonza Biologics Tuas, Genencor International, and Kodak

Haemonetics, Sterilmed, Stryker, United Industries, Kimberly-Clark Corporation, 3M, and General Mills

CRA International

Title

President

President

President

Senior Vice President

Senior Vice President

Status

Former

Former

Former

Former

Former

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