Chemical Giant BASF Launches Unit Dedicated to Accelerate Low Carbon Technologies, Projects
Chemical and materials giant BASF announced today the launch of the “Net Zero Accelerator”, a new unit focused on implementing and accelerating projects relating to low CO2 production technologies, circular economy, and renewable energies. With the launch of the new unit, BASF aims to accelerate its activities towards the achievement of its climate goals.
Earlier this year, BASF announced a series of climate goals, including a target to achieve net zero Scope 1 and 2 emissions by 2050, cut emissions 25% by 2030, and plans to invest up to €1 billion by 2025 to reach its goals. The company has since announced a series of partnerships and projects aimed at developing technologies to help decarbonize the chemical industry, including an agreement with chemical company SABIC and global industrial gases and engineering company Linde to develop and demonstrate solutions for electrically heated steam cracker furnaces, and a strategic partnership with Siemens Energy aimed at accelerating the commercial implementation of new technologies designed to lower greenhouse gas emissions in chemical production.
The Net Zero Accelerator unit will be led by Dr. Lars Kissau as President. The project organization, based in Ludwigshafen, Germany is planned to start on January 1, 2022.
Ongoing projects managed by the unit include BASF’s circular economy activities such as ChemCycling, a project focused on plastic waste that is not recycled mechanically for technological, economic, or ecological reasons, as well as CO2-free technologies such as methane pyrolysis. Renewable energies are another field of activity, including BASF’s agreement with Vattenfall to acquire a 49.5% stake in the world’s largest offshore wind farm earlier this year, and the recently announced 25-year electricity supply contract to purchase 186 MW of capacity from Ørsted’s Borkum Riffgrund 3 offshore wind farm.
Dr. Martin Brudermüller, Chairman of the Board of Executive Directors of BASF SE, said:
“With the new project organization, we are continuing to accelerate and create more powerful structures within BASF to achieve our ambitious goals. This further step demonstrates the determination to drive forward our transformation to a climate-neutral company.”