Surfactants Monthly - February 2025

Blog – February 2025

Time flies and it’s blog time again. With every new subscriber, I’m reminded how many people read this and I do take the responsibility seriously. If you see where we can improve, please do let me know. And if you want to provide some perspective on the surfactants news of the day, the tip line (which is just my email, remember) is open 24/7. We’re still free to subscribe and read and so please indulge me this commercial message, although it’s more of a public service announcement. The early bird for our 15th World Surfactants Conference in NJ, May 7 – 8th extends to March 15th and frankly we may well sell out anyway. So please register now as I don't want you to be left out. And also don't forget the one day in-person course on May 6th – Surfactant Business Essentials – taught be me. Here’s the link for both https://events.icis.com/website/8544/ . Book early. See you in May.

Gonna get pretty crowded up there in Jersey City

The News:

Our friends at the investment bank Evercore are back to publishing their “Chemical Synthesis letter and so Macroeconomics note comes largely from them.

The headlines are pretty interesting with my comments in [ ]:

· S&P 500 Chemicals show potential for improved performance in 2025, with 2024 valuations at a similar level to the troughs of 2020-2021 [That’s putting it nicely]

· Consumer seeing sales growth and improved EPS but faces headwinds posed by novel challenges [not sure what novel challenges are. Maybe tarrifs and all that]

· Global Beverages face headline and macro risks but positive mid- / longer-term outlook

· Autos see general positivity with the Trump Administration, but negatives on EV sales

· Homebuilders see strong margins and housing supply remains tight

· Global Airlines had a great 2024, continued positivity in 2025

And an interesting chart with commentary.

You’ll have to look up the stock symbols

· S&P 500 Chemicals EBITDA growth and stock performance lagged the market on average in 2024 (S&P 500 Chems +2% vs. S&P 500 +27%)

· Underperformance primarily driven by oversupply in parts of the chemicals supply chain and lackluster industrial end market demand in last 2 years

· Gases and coatings EBITDA changes proved less volatile with less cyclical and differentiated companies

· Winners characterized by defensive business models with pricing power

This is just a small snippet and the whole thing’s worth a read. Many of the points made here support what I heard at the recent SCI/ Racemics meeting in NYC. Here’s my 5 minute takeaway video from that meeting.

More News:

Palm and its derivatives continues to make news and create controversy. Here’s a Linkedin post by the great Jen Novakovich, who will, by the way, be leading a panel in collaboration wit the great Indpendent Beauty Association at our (great) World Surfactants Conference in May. Here’s the post.

https://www.linkedin.com/posts/activity-7291193940622356480-UO0A?utm_source=share&utm_medium=member_desktop

In just 10 slides you get a college (a good one that is not, like, you know, one of those types of colleges) level course on the matter of palm today. I reproduce one slide below, but you should go visit the whole thing. Jen is a chemicals communicator, par excellence (that means bloody good in French)

Now, despite all the prior economic gloom from chemicals sector, our friends and regular conference attendees, Church & Dwight reported a 4.1% increase in net sales for fiscal year 2024, reaching $6,107.1 million, surpassing its projected growth of 3.5%. The company’s success was driven by a 4.6% rise in organic sales, fueled by strong volume growth and positive pricing, alongside standout performances from some key brands. Global online sales grew to 21.4% of total consumer sales, and operations generated over $1.1 billion in cash flow. Looking ahead to 2025, the company anticipates continued volume-driven growth despite a cautious outlook on U.S. consumer spending due to persistent inflation and high interest rates. That was a nice read, right?

And more great news from our other NJ based friends and conference speakers and attendees. Colgate-Palmolive reported a 3.3% increase in net sales for fiscal year 2024, reaching a record-breaking $20.1 billion, driven by a 7.4% organic sales growth across all divisions and categories. The company's earnings per share rose 27% to $3.51, supported by strong performances in oral care and pet nutrition, despite a slight 0.1% dip in fourth-quarter net sales. Global market share in toothpaste and manual toothbrushes remained robust, bolstered by increased advertising [Yes !] and innovation [Also Yes!] investments. For 2025, Colgate-Palmolive projects mid-to-high single-digit organic sales growth and continued earnings improvement, navigating challenges like inflation and currency fluctuations with optimism [Like a good American company, should!].

Some bullish petro-news from Shell as reported in the Oil & Gas Journal: Shell Nanhai BV and China National Offshore Oil Corp. (CNOOC) have greenlit the Phase 3 expansion of their joint venture, CNOOC & Shell Petrochemicals Co. Ltd. (CSPC), in Huizhou, China, boosting ethylene production by 1.6 million tonnes per year with a new cracker, increasing the site’s total capacity to 3.8 million tonnes. Approved on January 15, 2025, the project includes 17 new units, featuring downstream derivatives like surfactant intermediates, linear alpha olefins, and detergent alcohols. This expansion, leveraging Shell’s advanced process technologies, aims to meet China’s rising petrochemical demand with enhanced production capabilities. [Boom !]

Dioxane: CESIO fights back. CESIO put together a Q&A document following their webinar on 1,4-dioxane, held on 20th November 2024. I’m not sure if it’s a public document so I’ll just summarise it here. If you want the original, contact them.

Summary: The document highlights significant uncertainty and concerns regarding the proposed 1,4-dioxane restriction. They argue that the timeline is unclear and the scope of the restriction is still undefined, including potential exemptions. CESIO questions the necessity and basis of the risk assessment, suggesting it may be disproportionate and lacks sufficient EU-specific data. They emphasize the potentially massive negative economic impacts, particularly for downstream users due to limited alternatives and high abatement costs. CESIO also points out that surfactants are not the only source of 1,4-dioxane emissions, and that reduction measures like stripping have their own environmental trade-offs. Finally, they raise a new concern about 1,4-dioxane generation during storage of certain surfactants, adding further complexity to the issue. Essentially, CESIO is advocating for a more cautious, data-driven approach, emphasizing the need for more clarity from authorities and a broader consideration of the impacts and alternatives before implementing a strict restriction. [Good on them. Let’s see how it goes. I guess I’ll quote a very important part here “As of today, the framework for the future restriction on 1,4-dioxane is not yet known, so it is not

possible to predict precisely what its scope will be, nor whether there will be any exemptions. Indeed, the only document shared by the authorities, which is no longer available on the authority's website, is the Preliminary draft entry text published by Germany during the call for evidence in April 2023, which is explained in Box 3-3 of the SEA. Nonetheless, as indicated in the above sections, we expect the final restriction proposal to change substantially before the envisioned publication in October 2025.”]

Does this make any sense? I’m not Star Wars guy

Whilst perusing my well-thumbed copy of BIC Magazine, I came across the following news re Ethox Chemical. The company has begun construction on a new greenfield chemical plant in Pasadena, Texas, to be co-located on 17 acres the company purchased from global chemical company Kao. This Texas facility will be the company’s second, with the first one located on a 45-acre site in Greenville, South Carolina. The project to build the new site in Texas was in the idea stage for many years and it’s been about three years since the company bought the property. [great vote of confidence in US manufacturing!]

What’s in the bottle these days? The great Womens Wear Daily, which I don't ever read, published their top 10 hair care brands on Social Media. Number 1? Olaplex. I hopped over to Potion.ai and learned that Olaplex has a number of Blonde enhancer and Clarifying shampoos built on AOS (Alpha Olefin Sulfonate) as the lead surfactant with fairly simple formulas. Others in the line are built on Sodium Lauroyl Methyl Isethionate (and an incredibly long list of other ingredients), which Potion further told me, may have been procured from Innospec. Interesting right?

I just recorded a video on Sasol and it’s on my YouTube. Here’s some news reported by the great OFI (Oils and Fats International) that further confirms my assessment of the Sasol Chemicals product range as incredibly broad and strong in the global surfactant value chain. Sasol – has launched a rapeseed-derived stearyl alcohol for the personal care industry. Produced exclusively from segregated rapeseed oil, the NACOL 18-98 product had been designed as a palm oil-free, bio-based stearyl alcohol solution for the personal care industry. The product can be used as a conditioning agent, stabiliser, consistency regulator, structuring agent and opacifier in conditioners and moisturisers for personal care. And of course, it meets EUDR.

The other Sasol news is pretty big and it essentially is that the CEO has intimated a sale, merger or IPO for the chemicals business some time in the future as reported lots of places, including Bloomberg. My video has more. Also reported, mothballing some chemicals assets i.e., three underperforming assets in Germany, Italy and the US as it conducts a review of its international chemicals portfolio to improve profitability and reposition the business as globally competitive. They are the company's Marl, Germany alkylphenol plant, the Augusta, Italy, linear alkylbenzene (LAB) plant, and the US Lake Charles, LA (USA) Guerbet alcohol plant. The alkylphenol plant has a capacity of 60,000 MT/yr. The LAB site has a combined capacity of 220,000 MT/yr. The Guerbet alcohols plant has a capacity of 30,000 MT/yr. Tough times for chemicals.

So, look, this is what I would do if I was Sasol’s CEO. Step 1: PE Bootcamp. Sell half of the chemicals business (or 51% whatever) to a big PE like Bain or Carlyle and let them whip it into shape for a few years until the chemical cycle recovers. Step 2: IPO sell or merge the business at which point Sasol is out, reaping some of the PE value creation. Now a great merge I think might be Indovinya – which, however, may be public already at that point. Although of course Indovinya could become part of the Step 1 bootcamp prior to an IPO of the merged entity. No extra charge, Sasol readers, for that advice.

I’ve always said (well not always, mainly just since I started teaching the surfactant business essentials course), new chemicals take time and money. And new chemicals in personal care are built up over lots and lots of brands. The great Brazilian Blowout, I’m pleased to report, contains an ingredient “Glycolipids” which is in fact a biosurfactant from BioRenuva, the intriguing new company speaking on May 7th, only at our conference in NJ. Biosurfactants march on.

Elsewhere I learn that Bubble Skincare, a super-buzzy Gen-Z Tiktok brand according to WWD, that I never read, is launching in Target (nothing says super buzzy like Target, I guess..?). Anyway one of their products (here ) contains glycolipids. I don't know whose. I think someone told me – who wanted to be in the blog – but I cannot actually remember who.

More on the bio front. Dispersa, a great company who attracted a lot of buzz at the last World Surfactants Conference in NJ, has raised a chunk of new equity to fuel their growth. They closed a $5.8 million CAD round of seed funding. The round was led by Nàdarra Ventures and backed by a consortium of all-Canadian investors, eh, including new investors BDC Thrive Lab, Cycle Momentum, The 51 Food & AgTech Fund and Fonds d'investissement Eurêka, through Hidden Layers Capital. This round also saw participation from existing investors, including Good & Well, Dragonfly Ventures, BoxOne Ventures, and Front Row Ventures. So that’s cool. The PR goes on to say that

Dispersa's proprietary technology, BioEterna®, combines synthetic biology and precision fermentation to create surfactants from waste oils and sugars. And they claim that PuraSurf® M is the world's first fully waste-derived biosurfactant. Kudos to them and much success.

Pilot Chemical in partnership with Kao is bringing to market an interesting new class of products that I wrote about a while back in the blog – BioIOS (Internal Olefin Sulfonates). Great ! Love the idea!. Download more info from Pilot here. They’re available in C16 and C18, made from – I’m assuming, palm stearin and palm olein. It doesn't spell that part of the process out. Quite how the internal olefin is obtained though, I’m not sure. Could be catalytic isomerization of palmitic (first dehydrogenate) or palmitoleic fractions. Or also maybe some metathesis? Anyway, there’s one slide that kind of summarises the whole thing but tantalizingly leaves out some details. Can someone elaborate. Tip line’s open.

More on the bio front, Bota Bio of China and Syensqo announced a partnership in haircare recently here. It’s hard to see what it’s specifically about but it seems to involve novel proteins for hair and maybe hair repair. This graphic is perhaps the most informative part of the PR.

Well, let's see. If Syensqo is seeking hair inspiration (hairspiration?) they might consider Kim Kardashians 47 Greatest Hair Moments here. (I’m not kidding)

Restructuring: It’s not just DOGE. I wrote an article soon to be published in the great HPC Today about 5 companies in our industry undergoing restructuring and or cost cutting. Estee Lauder was not among them. Retail Insight reports that, in a significant organisational overhaul, Estée Lauder Companies has revealed an estimated net reduction of between 5,800 and 7,000 jobs as part of the restructuring programme set out in its Profit Recovery and Growth Plan. The reasons – grim results, a grim outlook and problems in Korea. For the second quarter of fiscal year 2025, Estée Lauder reported a 6% decrease in net sales, amounting to $4bn. Gross profit also witnessed a downturn, falling by 2% to $3.04bn from the same period of the previous year’s $3.12bn. For the third quarter, Estée Lauder anticipates a substantial contraction in net sales within its global travel retail segment. This forecast reflects ongoing difficulties within the Asian travel retail sphere and additional strains stemming from revised selling policies adopted by several Korean retailers. Interesting how one key market, albeit in a small-ish country (52 Million) for cosmetics (Korea) can have such an impact.

Dow is one of the companies I did write about. They just announced 1,500 job cuts and a $1 billion cost-saving drive as it suffers through a sluggish economic backdrop. Q4 numbers were bad: a net loss of $35 million ($0.08 per share), pressured by weak pricing in packaging and specialty plastics. Sales dropped 2% to $10.4 billion, missing estimates, though volume squeezed out a 1% gain. They are also slashing up to $500 million in capital spending for 2025 while tightening operational efficiency. The earnings missed the mark, sending shares down 6.3% immediately the next day after the annoucement. Its adjusted EPS stayed at breakeven versus the expected $0.24. Packaging & Specialty Plastics, a major revenue driver, took a 6% hit as polyethylene prices sagged. On the flip side, Industrial Intermediates & Infrastructure showed some resilience, holding steady year-over-year. Dow is also making moves to improve liquidity, selling a minority stake in its U.S. Gulf Coast infrastructure for up to $3 billion, a strategic play to boost financial flexibility. The stock is still down nearly 29% over the past year,

Patent Watch: P&G. I often find it difficult to figure out what is going on in patents, especially when they run long. However here’s one from Procter & Gamble relating to a water soluble unit dose article, which I first assumed was the great Tide Evo, but then it mentions a film and filling a compartment so it seems to relate to an improved pod. Anyway, there is some interesting work in there about olefins and branched alcohols. Maybe worth a read.

If you do business in or with Mexico, you need to be a Pemex watcher. I’ve written about this before. Pemex is the national oil company. They will invest 20,000 million Mexican pesos (around $975 million) to increase its petrochemical output over the next six years, they said Feb. The company is targeting an annual production of 330,000 mt of aromatics, of 250,000 mt of ethylene oxide and of 690,000 mt of polyethylene by 2030. For this purpose, Pemex plans to reactivate and increase the production at the Cangrejera and Morelos complexes. Pemex's plan also outlines an increase in liquid hydrocarbon and natural gas production, the maximization of the Olmeca and Deer Park oil refineries, and reducing reliance on fertilizer imports. The financing for all these projects will come mainly from Pemex's own investment budget, complemented by resources from other companies through mixed public-private projects. Sources in the market said that achieving these milestones would require an enormous investment. May be some opportunity for those in our industry with money and an appetite for risk. Think about it.

Think you could run a detergent brand better than the big boys? Some companies do and it’s an interesting business. As part of its portfolio optimization in the Consumer Brands business, announced in February 2022, Henkel signed an agreement to sell its Retailer Brands business in North America to an affiliate of First Quality Enterprises, LLC headquartered in Great Neck, New York. The Retailer Brands business comprises products in the detergents, fabric finishers and dishwash categories serving several retail customers in North America with annual sales of around 500 million euros.

The Retailer Brands business has been identified as non-core activity within the Consumer Brands business.It’s really store brands and nothing to do with the monster brands like All®, Snuggle®, Dial®, Schwarzkopf®, got2b® and others. Just to be clear.

I sometimes find that the bio mass balance concept takes a while to percolate through to folks, especially in the consumer goods sector. Apparently Shell thinks so too and have a published another guide which I think is worth linking to here. It’s worth a read.

The blog takes no joy in reporting this latest news from Unilever, although any news from Unilever is of course very welcome. As reported in the WSJ and elsewhere, Unilever Ousts CEO to Speed Up Turnaround Efforts. Hein Schumacher to leave less than two years after taking the helm. The move comes as Schumacher is in the midst of implementing a major turnaround plan at Unilever, with the aim of cutting costs and stepping up growth. The company said last year it would cut some 7,500 jobs while also spinning off its ice cream business, which includes the Ben & Jerry’s brand.

As recently as this month, Schumacher told investors that those efforts were ahead of schedule, though the company warned that it expected its markets to remain soft in 2025. The board, though seemd to think that while OK, not enough was done and not fast enough. More faster, then was needed. They put the veteran CFO in the top job. Let’s see. One wonders if certain board members discussed this with certain of their family members (after the event of course)…

UL Director discusses CPG Strategy with Photogenic Family Members.

The news just won’t stop. Apparently, Tulane University Researchers are working on ad patenting a better way to make ethylene oxide. I’m a bit skeptical but anyway, they say in the article that - The current industrial process for producing ethylene oxide typically generates two molecules of carbon dioxide per ethylene oxide molecule. Adding chlorine improves this ratio to about two molecules of ethylene oxide per carbon dioxide molecule. The new nickel-enhanced catalyst could potentially reduce these emissions further. I dunno. What do you think? If true it’s wind in the sales for this essential hydrophile.

I don't remember this much news in February. Indorama just posted results for FY 2024 It’s all on the website. Very comprehensive. Overall the company did quite well.

· Reported EBITDA rose 26% YoY to $1.41B while Adjusted EBITDA increased 10% to $1.52B due to management actions despite industry headwinds

· Like-to-like volumes grew 4% YoY, supported by stable demand for end products

· Asset rationalizations yielded $48M fixed cost savings in 2024, with further savings set to materialize in 2025, driving an 8% increase in operating rates across the company

· Lower energy costs in Europe contributed a $55M uplift, strengthening overall financial performance

· Favorable currency movements in Brazil, Nigeria, and Egypt reduced conversion costs by $48M, enhancing profitability

· Cash flow generation of $1.35B was affected by $110M in asset rationalization-related expenses and $229M working capital outflow from temporary supply chain disruption, which is expected to be reversed in 2025

Now, Indovinya (the bit with the surfactants) also did well. In the chart below they are the light purple bar.

They note that Indovinya delivered a strong performance, with 4% volume growth, driven by destocking normalization and demand recovery in South America. North America gained from higher integrated margins, while South America benefited from a stronger sales mix.

For those contemplating an investment in Indovinya in some form, here's the full read. Note the segments and the EBTDA margin. Hmm – what do you think?

BASF published their results also. Lot’s of detail in the website. We are kind of Nutrition and Care segment focused here at the blog so let’s get right to that. The segment is a touch over 10% of BASF sales and a touch over 10% of the company EBITDA. Here’s the scorecard for the segment – note the breakout of care chemicals sales.

Sales performance was positively impacted by strong volume growth overall within the segment. The Care Chemicals division raised volumes by 7.9% in all business areas, but prices were off by 5.5%. I quickly scanned for mention of the big Zhanjiang project in China. A lot of spending and bonds floated to cover some of it. I also read this: The Nutrition & Health division recorded negative cash flow, in part as a result of higher expenditures for the investments in the aroma business in Zhanjiang, China, and Ludwigshafen, Germany.. Something to keep an eye on.

Market Notes:

In detergent range alcohols : Fatty alcohol markets in Asia are seeing increased prices for mid-cut alcohols due to strong regional demand and supply constraints, further supported by plant turnarounds and limited feedstock PKO. Overall Asian spot prices are stronger, driven by upstream crude palm oil and palm kernel oil prices amidst supply concerns. Planned turnarounds are impacting spot availability, though improved regional supply is expected from mid-April. Globally, fatty alcohol markets are diverging, with tightening supply in Europe and the. The upcoming Ramadan month may further tighten Asian supply and potentially increase prices. In the US, rising feedstock costs are pressuring the market, particularly for palm derivatives. Sasol's planned mothballing of its US Guerbet alcohols plant is not going to impact the mid-cut market. European fatty alcohol markets are experiencing steady spot prices and tight market conditions, with ongoing supply constraints expected to persist through Q2 due to planned turnarounds, including maintenance at Wilmar's Rotterdam facility. PKO prices are rising and expected to remain firm. Finally, a regulatory update has resulted in postponement of the EU Deforestation Regulation, with compliance deadlines set for late December 2025 for large operators and mid-2026 for smaller enterprises.

Meanwhile in ethoxylates, the Asian fatty alcohol ethoxylates market has seen prices increase in Southeast Asia for the first time since mid-December. This strengthening is attributed to rising feedstock costs and tighter supply, which are bolstering the market. Supply is expected to be reduced due to a regional plant planning to cut production rates because of reduced upstream ethylene oxide availability. Upstream costs are further supporting higher prices, pushing sellers to raise offers to maintain profit margins. However, market activity is somewhat subdued as participants are awaiting more clarity amidst ongoing global trade uncertainties and the POC. Looking ahead, the market is focused on potential expansion of feedstock fatty alcohol mid-cuts capacity in the second quarter, and is mindful of the potential impact of US policies. The Chinese domestic ethylene oxide market is stable to firm as planned turnarounds are commencing. Southeast Asian buyers are currently less active after a recent market price increase, while the Indian market is observing higher offers but facing limited buying momentum. The regional appetite for mid-cut alcohols remains healthy, and while plant expansions in the second quarter could balance supply and moderate demand, upward price potential is still linked to feedstock sector performance.

LAB : The Asian linear alkyl benzene (LAB) market remained stable recently, although suppliers are pushing for higher prices anticipating tighter supply due to upcoming plant maintenance in March across Asia. Buyers are cautious due to easing upstream benzene and jet kerosene prices. The downstream LAB sulphonate (LAS) market in Southeast Asia is also stable following a recent price increase. Benzene prices saw a slight dip, breaking a recent uptrend. In production news, ISU Chemical in South Korea achieved ISCC PLUS certification for bio-NP and bio-LAB production.

AI Corner:

I’ll keep this brief. Ive been using a bunch of AI tools recently. Perplexity has new research and thinking modes and allows you to use Deepseek (hosted in the US). It’s good but occasionally goes very hallucinatory, which is annoying as it is supposed to back up everything with linked citations. Recently, this is not so. Be careful. Google has an AI studio where you can sign up for free and try lots of different models. Their Gemini 2.0 Flash Thinking Experimental is a reasoning model and has been rated top of the pack recently. It is very strong and never breaks (like Grok) or goes off the reservation (Like Perplexity these days). Grok 3 is free for now and has interesting deep search and think modes. Watching it think can be amusing. It spent almost a minute thinking about whether MO was Missouri and MT was Montana and double checking multiple sources. Crazy. Even I know that. It is powerful and less constrained than the others. I haven’t used ChatGpt for a while since it got too preachy for my taste. I know they’ve added a lot of new models, so I should probably get back in there. Ultimately, I’d like to have my own model / agent running locally and interacting with these others. I think we’re almost there for an off the shelf product. The blog remains hand written by the way. Although I may lean on AI for images now and again.

Music Section

A lot a lot of feedback on last month’s. A senior person at a large chemical company told me that “his company” particularly liked the music in last months blog. They have tens of thousands of employees, so that’s good I guess. Another senior person accused me of using pop music and demanded something more to his taste (which we will do below). Pop music though! A dagger to my heart. Myself I’ve been kind of obsessed with Jinjer, since we played them last month. I must have listened to their whole Spotify collection and all the Youtube videos and I still think the voice of our young Tatiana Shmayluk is legit. They are Ukrainian, BTW. The sound is demonic, I guess that’s the best way putting it. I wonder if she’s like that at home: Can you take the garbage out tonight? Nah I’ll do it in the morning. Yeah but you never do it in the morning. Oh come on, Tati. Come on Tati is it? … all hell breaks loose..

And the live version of the song we heard last month. Why do I like this?

OK my jazz-loving friend, here we go: As requested Zaccai Curtis' "Cubop Lives". Now first, what can I say about it? Well, nothing really because I don't know Zaccai Curtis from erm.. well.. Tatiana Shmayluk. So we’ll employ AI. Let’s give Perplexity another chance. Here’s what it (he or she?) says:

Zaccai Curtis is a pianist, composer, and educator known for his work in Afro-Cuban Jazz and Bebop. He graduated from the New England Conservatory and has performed with notable artists like Cindy Blackman-Santana and Jerry Gonzalez. Curtis is a founding member of Insight and part of the Curtis Brothers Quartet with his brother Luques. "Cubop Lives!" is Zaccai Curtis's tribute to Afro-Cuban Jazz and Bebop, released on Truth Revolution Records. The album features originals and classics by Dizzy Gillespie and Thelonious Monk, celebrating the Cubop tradition. It won a GRAMMY Award for Best Latin Jazz Album in 2025, highlighting Curtis's contribution to the genre.

Well, what do you think? Change of pace right. ?

I think that’s it. OK one more. What was I listening to on YouTube this month? Well I found this nugget in my history. Latter day Rush playing along to the master tape of the great 2112 (overture). Check it out. Become familiar with it. It’s good.

Ok that is really it. Thanks for reading.

See you in May (7 – 8th) at World Surfactants XV ! https://events.icis.com/website/8544/

Surfactants Monthly - February 2025

Surfactants Monthly - March 2025

Surfactants Monthly - January 2025