Braskem Delivers Increased Supply of I'm green Bio-Based EVA Biopolymer to Support Heightened Demand for Welli Bins ™ Sustainable Storage Bins

Rhea-AI Summary

Braskem (NYSE: BAK) announced an increase in the supply of its carbon-negative I'm green EVA biopolymer to meet rising demand for Welli Bins, sustainable storage solutions launched earlier this year. These plant-based bins significantly reduce CO2 emissions and have gained popularity, selling out in their initial launch. The company aims to support sustainable production and is committed to a carbon-neutral circular economy, targeting 1 million tons of recycled content by 2030. Braskem's partnership with Welli Bins highlights its leadership in eco-friendly materials.

Positive

• Increased supply of carbon-negative EVA biopolymer to meet high demand for Welli Bins.
• Successful product launch of Welli Bins, selling out due to strong consumer interest.
• Commitment to a carbon-neutral circular economy, with targets for recycled content by 2030.

Negative

• None.

The plant-based, washable bins are the first environmentally friendly polymer storage bins that reduce CO2 emissions

PHILADELPHIA, May 16, 2022 /PRNewswire/ -- 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 it is supplying additional volume of its proprietary I'm green^TM carbon-negative EVA biopolymer to support the increased production of Welli Bins™ sustainable storage bins.  The additional production follows Welli Bins successful launch earlier this year which launched to sold out consumer demand.

Welli Bins are the first planet-friendly storage and organization solution made from plant-based, washable, durable and sugarcane-based material - all designed to be an environmentally friendly solution to traditional polymer storage bins. The bins are made of a proprietary blend of Braskem's I'm green EVA and other plant-based materials that allow the bins to significantly reduce CO2 emissions.

"We are proud to support increased production of Welli Bins sustainable storage bins with additional volumes of our I'm green sugarcane-based EVA biopolymer," said Giancarlos Delevati, Account Manager and Business Development at Braskem. "Over six months ago, the company had a successful launch and sold out of these unique, sustainable storage containers. The strong demand for Welli Bins' product affirms the heightened consumer interest in products that are produced in an environmentally friendly way. Braskem is committed to continuing to support innovative, sustainable products that aid in reducing waste and having a positive impact on the environment."

"Here at Welli Bins Co., we're building a market-changing product at a time when households demand stronger, lighter, and more sustainable products. This is core to our strategy and why we have a loyal customer base. Braskem gives us a competitive advantage. Not only are they the industry leader and pioneer in carbon-negative EVA biopolymer, but Braskem has the skills and flexibility to be a deeply integrated product partner with Welli Bins Co. We are excited to continue building out our plant-friendly line of products together,"  stated Kathleen McIntyre, Founder and CEO, Welli Bins.

Soft but sturdy, Welli Bins are comfortable to handle and lightweight and are tear-resistant, which means the bins won't break down and end up in a landfill.  Available in a variety of colors Welli Bin's biopolymer-based surfaces are waterproof, making them easy to clean and disinfect. Welli Bins significantly reduce emissions thanks to the consumption of CO2 by the sugarcane plants. Additionally, leftover biomass during manufacturing is used to heat generators and supply electricity to the manufacturing facility to further reduce the carbon footprint of the process. The first production of Welli Bins sustainable storage bins was launched on November 16 and sold out to strong consumer reception. Welli bins are available for sale online and shipping throughout the United States. For information on the bins and how to purchase them, please visit Welli Bins' website:  www.wellibins.com

Braskem is strongly committed to a Carbon-Neutral Circular Economy where nothing is wasted, and everything is transformed. To support this vision for the future Braskem has clearly stated targets for growing the company's recycled content product portfolio to sales of 300,000 tons by 2025 and 1 million tons by 2030. Braskem's transition to a circular economy is deeply rooted in mechanical and advanced recycling solutions. By engaging and investing in partnership with other members of the value chain the company is strengthening mechanical and advanced recycling, overcoming barriers, and ensuring the increased production of high-quality recycled material.  All these initiatives are aligned with Braskem's feedstock diversification strategy and its macro goals of expanding the circular economy concept in the plastic chain and becoming a carbon-neutral company by 2050.

ABOUT WELLI BINS CO.
Welli Bins Co. is developing the first line of sustainable, washable and portable bins made from plant-based materials. Welli Bins customers don't fit in a box. They are moms and dads with kids who jump in muddy puddles, single guys who love cats, musicians with too many cords in their Brooklyn studios and yoga-loving city dwellers who often work out at home. Pet toys, free weights, wet pool toys and dirty sneakers all get equal treatment in a Welli Bin. Organizing and compartmentalizing can be good for the soul, and now it's good for the planet, too, with these environmentally-friendly washable containers.

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 8,000 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 41 industrial units in Brazil, the United States, Mexico, and Germany, Braskem exports its products to clients in more than 80 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 six production plants located in Texas, Pennsylvania and West Virginia, an Innovation and Technology Center in Pittsburgh, and operations in Boston focused on leveraging groundbreaking developments in biotechnology and advanced materials. For more information, visit www.braskem.com/usa.

View original content to download multimedia:https://www.prnewswire.com/news-releases/braskem-delivers-increased-supply-of-im-green-bio-based-eva-biopolymer-to-support-heightened-demand-for-welli-bins--sustainable-storage-bins-301544122.html

SOURCE Braskem

FAQ

What is the significance of Braskem's increased supply of I'm green biopolymer for BAK stock?

The increase in supply supports the growing demand for sustainable products, positioning Braskem favorably in the eco-friendly market, which can positively impact BAK stock.

What are Welli Bins made of and how do they reduce emissions?

Welli Bins are made from plant-based, sugarcane-derived EVA biopolymer, which reduces CO2 emissions during production.

When was the Welli Bins product launched?

The Welli Bins were launched on November 16, 2021, and quickly sold out due to high consumer demand.

What is Braskem's goal for recycled content by 2030?

Braskem aims to achieve 1 million tons of recycled content in its product portfolio by 2030.