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Mattress retailer could exceed $1.1 billion private valuation
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IPO proceeds to help fund expansion, including storefronts
Company News
October 24, 2019
Lanxess Uses AI for Prepolymer Development
By Mary Page Bailey | Lanxess launches AI-assisted formulation development for Urethane Systems
Lanxess AG (Cologne, Germany; www.lanxess.com) is broadening its use of artificial intelligence (AI) in product development. The specialty chemicals company has launched a project aimed at expanding its range of prepolymers. The goal is to offer customers tailor-made polyurethane systems with even shorter lead times, including for entirely new applications with different requirements. The Urethane Systems business unit is using the potential of AI and has brought materials AI company Citrine Informatics on board as a project partner.
In an initial project phase, Lanxess enlarged its database of prepolymer-based formulations. Lanxess data specialists and process experts used the Citrine Platform for artificial intelligence to add further data points to the company’s formulation database. This involved linking existing empirical measurement data with the knowledge of the process experts and a chemistry-aware algorithm to calculate additional measurement values. This meant that only a few real-life measurements were required to verify the figures determined with AI.
In a next step, data and process experts at Lanxess will check how reliably optimal formulations can be predicted with the aid of AI to meet customer-specific requirements for product characteristics. “If the next tests are successful, we will be able to fulfill customer requests even more quickly and effectively. Our existing knowledge of formulations shall be enhanced by AI-assisted formulation design – in other words, systems that are not yet part of our portfolio but for which artificial intelligence will enable us to know instantly whether we can manufacture them and how,” says Markus Eckert, head of the Urethane Systems business unit at Lanxess.
So far, chemists have largely had to rely on their specialist expertise and years of experience when researching new formulations with defined product characteristics such as hardness, tensile strength and viscosity. AI is expected to become an important tool to help them broaden their knowledge and significantly reduce the amount of tests required.
Lanxess already has some experience in using AI. In a pilot project with Citrine Informatics, the specialty chemicals company is using AI to optimize glass fibers as a way of further enhancing the properties of Lanxess high-performance plastics. It is anticipated that AI will cut development times for the necessary formulations by more than half. Customers will receive even better, tailor-made products within shorter time frames.
For Jörg Hellwig, Head of the Lanxess Digitalization Initiative, the partnership between Citrine and the Lanxess Urethane Systems business unit demonstrates the growing role of digitalization in product development. “Most employees who are already using artificial intelligence cannot imagine ever going back to the old methods of working. The use of digital technologies is increasingly becoming standard procedure at Lanxess,” says Hellwig.
https://www.chemengonline.com/lanxess-launches-ai-assisted-formulation-development-for-urethane-systems/?printmode=1
October 24, 2019
Lanxess Uses AI for Prepolymer Development
By Mary Page Bailey | Lanxess launches AI-assisted formulation development for Urethane Systems
Lanxess AG (Cologne, Germany; www.lanxess.com) is broadening its use of artificial intelligence (AI) in product development. The specialty chemicals company has launched a project aimed at expanding its range of prepolymers. The goal is to offer customers tailor-made polyurethane systems with even shorter lead times, including for entirely new applications with different requirements. The Urethane Systems business unit is using the potential of AI and has brought materials AI company Citrine Informatics on board as a project partner.
In an initial project phase, Lanxess enlarged its database of prepolymer-based formulations. Lanxess data specialists and process experts used the Citrine Platform for artificial intelligence to add further data points to the company’s formulation database. This involved linking existing empirical measurement data with the knowledge of the process experts and a chemistry-aware algorithm to calculate additional measurement values. This meant that only a few real-life measurements were required to verify the figures determined with AI.
In a next step, data and process experts at Lanxess will check how reliably optimal formulations can be predicted with the aid of AI to meet customer-specific requirements for product characteristics. “If the next tests are successful, we will be able to fulfill customer requests even more quickly and effectively. Our existing knowledge of formulations shall be enhanced by AI-assisted formulation design – in other words, systems that are not yet part of our portfolio but for which artificial intelligence will enable us to know instantly whether we can manufacture them and how,” says Markus Eckert, head of the Urethane Systems business unit at Lanxess.
So far, chemists have largely had to rely on their specialist expertise and years of experience when researching new formulations with defined product characteristics such as hardness, tensile strength and viscosity. AI is expected to become an important tool to help them broaden their knowledge and significantly reduce the amount of tests required.
Lanxess already has some experience in using AI. In a pilot project with Citrine Informatics, the specialty chemicals company is using AI to optimize glass fibers as a way of further enhancing the properties of Lanxess high-performance plastics. It is anticipated that AI will cut development times for the necessary formulations by more than half. Customers will receive even better, tailor-made products within shorter time frames.
For Jörg Hellwig, Head of the Lanxess Digitalization Initiative, the partnership between Citrine and the Lanxess Urethane Systems business unit demonstrates the growing role of digitalization in product development. “Most employees who are already using artificial intelligence cannot imagine ever going back to the old methods of working. The use of digital technologies is increasingly becoming standard procedure at Lanxess,” says Hellwig.
https://www.chemengonline.com/lanxess-launches-ai-assisted-formulation-development-for-urethane-systems/?printmode=1
October 21, 2019
Casper Preps for IPO
Casper Is Said to Work With Morgan Stanley, Goldman on IPO
Byand
Online mattress retailer Casper Sleep Inc. is working with Morgan Stanley and Goldman Sachs Group Inc. on a U.S. initial public offering, according to people with knowledge of the matter.
The New York-based company could go public as soon as this year or the first half of 2020, said the people, who asked not to be identified because the information is private.
Casper, which sells and delivers mattresses directly to consumers, reached a $1.1 billion valuation this year in its most recent private funding round. Target Corp., New Enterprise Associates and Dani Reiss, the chief executive officer of Canada Goose Holdings Inc., are among its investors.
The company could attain a higher valuation in an IPO, one of the people said.
Representatives for Casper, Morgan Stanley and Goldman Sachs declined to comment.
Despite poor performances by high-profile listings including Peloton Interactive Inc. and the collapse of WeWork’s IPO plans, many companies are still aiming to go public before end of the year.
Casper, which has expanded its products to include bedding, pillows and bed frames, operates in the U.S., Canada, the U.K., Germany, Switzerland and Austria. CEO Philip Krim said in March that the company’s next big international market would be Asia.
The company also plans to open hundreds of physical stores. Part of its motive for going public is to raise capital for that expansion, one of the people said.
https://www.bloomberg.com/news/articles/2019-10-18/casper-is-said-to-work-with-morgan-stanley-goldman-on-ipo
October 21, 2019
Casper Preps for IPO
Casper Is Said to Work With Morgan Stanley, Goldman on IPO
Byand
-
Mattress retailer could exceed $1.1 billion private valuation
-
IPO proceeds to help fund expansion, including storefronts
Online mattress retailer Casper Sleep Inc. is working with Morgan Stanley and Goldman Sachs Group Inc. on a U.S. initial public offering, according to people with knowledge of the matter.
The New York-based company could go public as soon as this year or the first half of 2020, said the people, who asked not to be identified because the information is private.
Casper, which sells and delivers mattresses directly to consumers, reached a $1.1 billion valuation this year in its most recent private funding round. Target Corp., New Enterprise Associates and Dani Reiss, the chief executive officer of Canada Goose Holdings Inc., are among its investors.
The company could attain a higher valuation in an IPO, one of the people said.
Representatives for Casper, Morgan Stanley and Goldman Sachs declined to comment.
Despite poor performances by high-profile listings including Peloton Interactive Inc. and the collapse of WeWork’s IPO plans, many companies are still aiming to go public before end of the year.
Casper, which has expanded its products to include bedding, pillows and bed frames, operates in the U.S., Canada, the U.K., Germany, Switzerland and Austria. CEO Philip Krim said in March that the company’s next big international market would be Asia.
The company also plans to open hundreds of physical stores. Part of its motive for going public is to raise capital for that expansion, one of the people said.
https://www.bloomberg.com/news/articles/2019-10-18/casper-is-said-to-work-with-morgan-stanley-goldman-on-ipo
October 18, 2019
Recticel Fire in Belgium
Fire incident at Flexible Foams unit in Wetteren (Belgium)
Recticel informs that around 12:30 CET today, a fire broke out in one of the storage units in its Flexible Foams site in Wetteren (Belgium). The fire was rapidly brought under control by the fire brigade. Production facilities at the plant were not affected by the fire.
https://www.recticel.com/fire-incident-flexible-foams-unit-wetteren-belgium.html