Braskem Sa - BAK STOCK NEWS

Braskem (NYSE: BAK) and Compact Membrane Systems (CMS) have finalized a joint development agreement for a pilot-scale demonstration of Optiperm™ technology, aimed at enhancing olefin production efficiency. The technology promises to reduce waste, lower carbon emissions, and cut energy usage during olefin recovery. The pilot demonstration is set to occur over 500 days at a Braskem production facility and involves producing high-purity paraffin and olefin streams. Construction of the pilot plant will begin in Q1 2021, led by Zeton, a global leader in modular systems.

Braskem (NYSE: BAK) has partnered with the University of Illinois Chicago (UIC) to explore new methods for producing ethylene using CO₂ capture technology. This initiative aims to mitigate carbon emissions from industrial processes while creating sustainable feedstock for plastic production. The project, still in early development, seeks to validate UIC's research and integrate renewable energy to optimize manufacturing efficiency. Braskem's sustainability strategy targets carbon neutrality by 2050, supporting the circular economy and achieving significant waste diversion goals.

Braskem (NYSE: BAK) announced a collaboration with Encina Development Group to produce recycled polypropylene (PP) using innovative technology. Encina aims to construct a facility by late 2021 that will process 175,000 tons of plastic waste annually, creating over 90,000 tons of recycled chemicals. Braskem will collaborate on logistics, product quality, and a supply agreement for sustainable propylene feedstock. This partnership supports Braskem's commitment to a carbon-neutral circular economy and increasing their recycled product sales to 300,000 tons by 2025.

Braskem has completed a $10 million expansion of its U.S. Innovation and Technology Center in Pittsburgh, adding eight new R&D laboratories equipped for advancements in Catalysis, Recycling, and 3D Printing. This initiative enhances Braskem's R&D capabilities, supporting its sustainability goals and Carbon Neutral Circular Economy objectives. The project utilized eco-friendly construction materials, reinforcing the company's commitment to innovation and sustainability in plastics manufacturing.

Braskem S.A. (BAK) reported a recurring EBITDA of US$699 million for 3Q20, a 126% increase over 2Q20, driven by improved sales and spreads in the PE and PP markets. The company achieved a historic quarterly record of over 1,050 tons of resins sold domestically in Brazil. However, it faced a net loss of R$1,413 million due to geological provisions and exchange rate impacts. Notably, EBITDA from Brazil was US$529 million, accounting for 70% of total EBITDA. Braskem also committed to ambitious sustainability goals, including carbon neutrality by 2050.

Braskem, the largest polyolefins producer in the Americas, has announced new sustainability goals aimed at eliminating plastic waste by 2030 and achieving carbon neutrality by 2050. The company plans to increase its I'm green™ portfolio, targeting 1 million tons of recycled products annually by 2030, and divert 1.5 million tons of plastic waste from landfills. Additionally, Braskem aims to reduce carbon emissions from operations by 15% by 2030. The company continues to lead in biopolymers, advocating for a carbon-neutral circular economy through innovations in sustainable products.

Braskem (NYSE: BAK) has launched the Braskem e-NABLE Chapter, enhancing its role in producing free 3D-printed prosthetic upper limb devices for those in need. This initiative capitalizes on the company's standing as the largest polypropylene producer in North America and its advanced 3D printing capabilities. The new chapter aims to benefit underserved communities in Pennsylvania and globally, offering polypropylene-based prosthetics at no cost. Braskem seeks further certifications to produce additional prosthetic models, expanding its impact in the humanitarian sector.

Braskem (NYSE: BAK) has announced its status as an Operation Clean Sweep® (OCS) blue member, a recognition highlighting its commitment to best practices in the control of plastic pellets, flakes, and powders. This program is part of Braskem's broader strategy to promote sustainability and reduce environmental impacts. The company aims for zero losses in these materials across its operations. With a net revenue of R$52.3 billion (US$13.2 billion), Braskem also participates in initiatives to enhance recycling for polypropylene, indicating strong alignment with circular economy principles.

Braskem has successfully launched commercial production at its new polypropylene production line in La Porte, Texas, with a capacity exceeding 450 kilotons (1 billion pounds) annually. The plant, representing a $750 million investment, is the first new polypropylene facility in North America since 2008. The launch follows the completion of mechanical construction and commissioning, ensuring high product quality. The new line addresses market demand recovery post-COVID-19 and aims to support both U.S. and international clients, enhancing Braskem's leadership in the North American market.