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In a huge deal, high-throughput experimentation specialist Symyx Technologies has inked a five-year alliance with ExxonMobil worth more than $200 million. ExxonMobil Chemical has been a Symyx customer for catalyst discovery in polymers and olefins. But ExxonMobil Research & Engineering will now use Symyx tools to discover new catalysts and products in petrochemicals, lubricants, and refining. Symyx CEO Steve Goldby says the new alliance “evolved from a successful history of working together.” He cites a six-month period in which the companies discovered a catalyst to improve olefin steam cracker product streams. Goldby says Symyx will execute research projects for ExxonMobil, which will also buy high-throughput tools and research techniques from Symyx and standardize around Symyx software for data gathering and analysis. “The objective here is not outsourcing research; the objective is to transform the way in which ExxonMobil does research,” Goldby says. In addition to the $200 million in services, licensing, and product revenues, Symyx says it could receive additional royalties for commercial products arising from the alliance. With $21 million from ExxonMobil this year, the company expects total 2003 revenues of $75 million to $85 million. In addition, Symyx says it needs to hire about 40 new employees. |
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