Braskem’s Renewable Innovation Center focuses on accelerating early-stage innovations in renewable chemicals and sustainable materials
PHILADELPHIA & LEXINGTON, Mass., September 10, 2024--(BUSINESS WIRE)--Braskem (B3: BRKM3, BRKM5, and BRKM6; NYSE: BAK; LATIBEX: XBRK) the largest polyolefins producer in the Americas, as well as a market leader and pioneer producer of biopolymers on an industrial scale, today announced the opening of its Renewable Innovation Center located in Lexington, Mass. Braskem’s new 35,000-square-foot innovation center will accelerate innovation in renewable chemicals and materials. Capabilities at the new center will expand Braskem’s competencies in biotechnology, catalysis, and process engineering. A particular focus will be given to early-stage science and engineering related to the conversion of biomass-based feedstocks, including sugars, cellulose, plant oils, and lignin, to sustainable chemicals and materials. This will enhance Braskem’s resources focused on the discovery of technologies that will drive new growth-oriented offerings centered around combating climate change. This innovation center is the latest expansion of Braskem’s global Innovation & Technology footprint.
Mark Nikolich, CEO of Braskem America, stated, "This is a great moment for Braskem and the bio-based industry as we continue to lead the change to a sustainable future. Braskem has a strong ambition to be a key player in carbon capturing through the production of materials with renewable raw materials. This innovation center even better positions Braskem to forge solutions that meet the needs of today and the future."
The new center is strategically based in Greater Boston’s world-class biotechnology and innovation ecosystem, located within a one-hour drive of more than 60 universities and colleges. Work in the Renewable Innovation Center will complement Braskem’s global research and development work currently being conducted in the U.S., Brazil, Mexico, and Germany.
From promoting plastic circularity to driving the bio-based materials revolution, Braskem is committed to diminishing the dependency on finite resources and reducing carbon emissions while generating a positive impact for a better society.
Antonio Queiroz, Vice President of Innovation, Technology, and Sustainable Development at Braskem, stated, "We are excited for the official opening of our Renewable Innovation Center, which expands Braskem’s global I&T footprint to seven centers dedicated to research and development. The launch of Braskem’s Renewable Innovation Center will foster the development of new sustainable solutions for chemicals and plastics. We are increasing investments, dedicating resources, and attracting great minds to help us meet our ambitions to create a more sustainable future for everyone."
ABOUT BRASKEM With a global vision of the future oriented toward people and sustainability, Braskem is committed to contributing to the value chain for strengthening the Circular Economy. The petrochemical company’s almost 9,000 team members dedicate themselves every day to improving people’s lives through sustainable chemicals and plastics solutions. Braskem has an innovative DNA and a comprehensive portfolio of plastic resins and chemical products for diverse segments, such as food packaging, construction, manufacturing, automotive, agribusiness, healthcare, and hygiene, among others. With 40 industrial units in Brazil, the United States, Mexico, and Germany, Braskem exports its products to clients in more than 70 countries.
Braskem America is an indirect wholly owned subsidiary of Braskem S.A. headquartered in Philadelphia. The company is the leading producer of polypropylene in the United States, with five production plants located in Texas, Pennsylvania, and West Virginia, an Innovation and Technology Center in Pittsburgh, and operations in Lexington, MA focused on leveraging groundbreaking developments in biotechnology and advanced materials. For more information, visit www.braskem.com/usa.
FORWARD-LOOKING STATEMENT This press release contains projections and other forward-looking statements (within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) regarding future events. These statements reflect Braskem’s current beliefs and expectations with respect to Braskem’s business, the economy and other future conditions and are based on assumptions, are subject to risk and uncertainties and are subject to change at any time. Actual events or results may differ materially from those contained in such forward-looking statements. Important factors that could cause actual results to differ materially from the forward-looking statements contained herein include, without limitation: (i) the continuation of restrictions related to the COVID-19 Pandemic or the continuing effects of the Pandemic; (ii) the contraction or lack of growth in the market segments in which Braskem competes and in which its products are sold (iii) unexpected delays in commissioning, (iv) increased competition from imports or in the export markets, (v) inability to anticipate future market trends and the future needs of Braskem’s customers, (vi) the impact of natural disasters on Braskem’s facility and its suppliers and (vii) other factors detailed in documents Braskem files from time to time with the Securities and Exchange Commission. Forward-looking statements in this release are made pursuant to the safe harbor provisions contained in the Private Securities Litigation Reform Act of 1995.
