Surely there is someone out there who has the info that proves how investors have been misled by Proxxima
10 replies (most recent on top)
@1br+1m2h3t7fn The fools have already been retired. They are no longer with the company. And Proxxima has failed. It's been shut down now.
EM was banking on a feed advantage. That is, EM would make the monomer at scale. That technology has failed.
So, the venture will fail. The writing is on the wall. EM will divest once the fools who made this acquisition are safe or retired.
Our competitors are laughing at us
We seem to not be very talented at discerning which companies are good acquisitions vs. a waste of money.
Because we cannot admit that our acquisition of Materia had significant "business" land mines. Materia is laughing all the way to the bank.
ExxonMobil Chemical Company acquired Materia, Inc. on December 7, 2021, integrating Materia’s Nobel Prize‑winning ROMP polymer technology with ExxonMobil’s manufacturing scale to commercialize advanced structural materials.
Overview of the Acquisition
Date: December 7, 2021
Buyer: ExxonMobil Chemical Company
Target: Materia, Inc., a California‑based advanced materials company specializing in high‑performance structural polymers.
Technology Basis: Materia’s materials are built on ruthenium catalyst and ROMP (Ring‑Opening Metathesis Polymerization) chemistry developed by Caltech’s Dr. Robert Grubbs, who won the 2005 Nobel Prize in Chemistry.
Strategic Purpose
ExxonMobil aims to scale Materia’s breakthrough hydrocarbon‑based polymers, which offer:
(1) High strength and stiffness
(2) Lightweight properties
(3) Durability and corrosion resistance
(4) Sustainability advantages over traditional thermosets like epoxy
Applications Enabled
The combined technologies support development of:
(1) Longer, more durable wind turbine blades for improved renewable energy efficiency
(2) Electric vehicle components
(3) Sustainable construction materials
(4) Anticorrosive coatings
(5) Advanced composites with steel‑like strength but lower weight
Facilities Included
The acquisition covers:
(1) Materia’s Pasadena, California headquarters and technology center
(2) Huntsville, Texas manufacturing facility
(3) ExxonMobil continues operating Materia as a wholly owned affiliate.
Significance
This acquisition strengthens ExxonMobil’s position in next‑generation structural materials, enabling commercial deployment of high‑performance polymers that support renewable energy, EVs, and industrial applications.
@bx So why are they wasting money trying to promote a product that no one wants?
EM is in the business of making money. Simple.
The basic flaw of Proxxima is the cost. High cost with insufficient benefit over existing products to justify the added cost.
Latest research work was on moving to different type of reactor technology while trying to understand the chemistry of this production.
Everyone knows, no need to stress this. 5 years at minimal sales - it is evident what this business is capable of.