Welcome to our dedicated page for Braskem Sa news (Ticker: BAK), a resource for investors and traders seeking the latest updates and insights on Braskem Sa stock.
Braskem SA (BAK), Latin America's largest petrochemical producer, maintains this dedicated news hub for investors and industry stakeholders. Access official press releases, financial disclosures, and operational updates from the global leader in resins and biopolymers.
This resource consolidates essential announcements including quarterly earnings reports, strategic partnerships, and sustainability initiatives. Monitor developments across Braskem's international operations in Brazil, the United States, and Europe, with coverage spanning production innovations, market expansions, and environmental commitments.
All content originates from verified corporate communications, ensuring reliable tracking of the company's position in the chemicals sector. Users gain insights into Braskem's core operations in olefins production, renewable polymer research, and energy transition strategies through unfiltered source materials.
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Braskem (NYSE: BAK), the largest polyolefins producer in the Americas, has joined the MIT Energy Initiative (MITEI) to support research for advancing energy transition. This three-year membership enables Braskem to collaborate with leading industrial firms to tackle climate challenges. The Future Energy Systems Center will focus on innovative, decarbonization-related research, involving guidance from MIT professors. Braskem aims to enhance its sustainability efforts, targeting sales of 300,000 tons of recycled materials by 2025 and 1 million tons by 2030, as part of its circular economy initiative.
Braskem S.A. (NYSE: BAK) reported its 3Q22 earnings, revealing a Recurring EBITDA of US$371 million, a 54% decline from 2Q22, primarily due to decreased resin export volumes in Brazil and lower prices across key product lines. Year-over-year, EBITDA fell 75%. The company also faced a net loss of R$1.1 billion for the quarter, although net income for the year stands at R$1.4 billion. Despite challenges, Braskem maintained a robust cash position of US$2.2 billion, ensuring coverage for debt maturities for the next five years.
Braskem America has secured renewable energy contracts to cut its CO2 emissions significantly, aiming for over a 15% reduction by 2030 and carbon neutrality by 2050. The company has signed power purchase agreements in West Virginia and Pennsylvania and will utilize energy from wind, solar, and nuclear sources. CEO Mark Nikolich emphasized this initiative as a step towards building a Carbon-Neutral Circular Economy. Braskem strives for sustainable operations, aligning its efforts with broader environmental goals.
Braskem has announced the construction of a new Renewable Innovation Center in Lexington, Massachusetts, focusing on early-stage innovations in renewable chemicals and sustainable materials. The investment of approximately $20 million aims to enhance Braskem's capabilities in biotechnology and catalysis, aligning with its commitment to a Carbon-Neutral Circular Economy. The center will complement existing R&D operations and is expected to be operational in the second half of 2023, supporting Braskem's position as a leader in renewable polymers.
On September 20, 2022, Essentium announced a partnership with Braskem (NYSE: BAK) to provide a fully integrated additive manufacturing solution. This collaboration combines Essentium's High Speed Extrusion 3D Printer with Braskem's unique line of recycled polyolefin materials, aimed at enhancing sustainable production of 3D printed components. The partnership focuses on the democratization of 3D printing, making it more accessible and affordable for various industries. Braskem's recycled materials are designed to meet the needs of the growing additive manufacturing market.
Braskem has signed a Memorandum of Understanding (MOU) with Nexus Circular to establish a new advanced recycling facility near Chicago. This facility aims to convert over 30,000 metric tons of used plastics into high-quality materials annually, potentially expanding to 120,000 metric tons. The MOU grants Braskem exclusive rights to the output, supporting its goal of selling 1 million metric tons of recycled-content products by 2030. Braskem emphasizes its commitment to sustainability and reducing plastic waste through this partnership with Nexus Circular.
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.
Braskem S.A. (NYSE: BAK) reported a Recurring EBITDA of US$920 million for 1Q22, a 19% decline from 4Q21 and a 27% drop year-over-year. This decrease resulted from lower sales volumes in Brazil, normalization of international spreads, and the appreciation of the Brazilian real. The net income was R$3.9 billion with a 15% net margin. Additionally, Braskem distributed R$1.35 billion in dividends, leading to a total of R$7.35 billion for FY2021. The company maintains a cash position of US$1.8 billion.
Braskem has launched its first ever lineup of sustainable 3D printing filaments, including bio-based EVA from sugarcane and recycled PE/PP blends, one of which incorporates carbon fiber. These products aim to address the growing demand for eco-friendly materials in the additive manufacturing sector. The new filaments are set to be showcased at the RAPID + TCT 2022 conference in Detroit from May 17-19, 2022. With over 90% sustainably sourced content, these materials cater to various applications including automotive and packaging, reinforcing Braskem's commitment to sustainability.
Braskem has formed a partnership with Lummus Technology to globally license its green ethylene technology, aimed at accelerating the production of chemicals and plastics from renewable bioethanol. This collaboration seeks to enhance the circular economy by leveraging Lummus's expertise in ethylene production, which covers approximately 40% of global capacity. Braskem targets producing 1 million tons of I'm green™ polyethylene by 2030. The partnership is in line with the growing demand for sustainable materials and aims to reduce the carbon footprint of the industry.
