Westlake's Vinnolit Introduces New Lower-Carbon GreenVin PVC

Rhea-AI Summary

Westlake Chemical Corporation (NYSE: WLK) has announced the launch of GreenVin™ Polyvinyl Chloride (PVC) through its Vinnolit subsidiary in Germany. This lower-carbon PVC product aims to meet rising market demand for sustainable materials, saving approximately 25% in carbon dioxide emissions compared to traditional PVC. The initiative follows the earlier introduction of lower carbon caustic soda in February 2021. GreenVin™ supports Westlake's broader commitment to sustainability and environmentally friendly practices in chemical production.

Positive

• Launch of GreenVin™ PVC, a lower-carbon alternative that saves approximately 25% in carbon emissions compared to traditional PVC.
• The GreenVin™ product line is expanding, which may capture additional market share in the growing demand for sustainable materials.

Negative

• None.

Company Rolls Out Second Lower-Carbon Product in 2021 Following its Introduction of Lower Carbon Caustic Soda in February 2021.

HOUSTON--(BUSINESS WIRE)-- Westlake Chemical Corporation (NYSE: WLK) today announced its Vinnolit subsidiary in Germany launched GreenVin™ Polyvinyl Chloride (PVC), a lower-carbon alternative PVC, which is one of the most widely utilized plastics in the construction, automotive and medical sectors.

"Market demand for lower-carbon plastics and materials is rising rapidly as more customers are seeking ways to reduce their carbon footprints and meet their sustainability goals,” said Vice President, Europe & Asia Vinyls Chemicals, Dr. Karl-Martin Schellerer. “GreenVin™ PVC performs as well as traditional PVC while offering a more climate-friendly product that our customers can feel good about using. This product and the entire GreenVin™ product line are part of our overall commitment to meeting society’s needs and enabling a better future.”

The introduction of GreenVin™ PVC follows the market launch of GreenVin™ caustic soda earlier this year, with the product line expected to extend into the Company's vinyl chloride and hydrogen products in the future. Caustic soda is an essential ingredient for the production of many materials, including detergents, construction materials, pulp and paper, pharmaceuticals and water treatment products.

The Vinnolit GreenVin™ brand is based on European high-quality renewable energy certificates (Guarantees of Origin) associated with the production of the lower-carbon PVC and caustic soda. Depending on the PVC type, the carbon-dioxide savings with GreenVin™ PVC are about 25% compared to conventionally produced Vinnolit PVC. The respective carbon footprint for the entire product portfolio was calculated by Sustainable AG in accordance with the ISO 14067 standard. Review and certification are carried out by TÜV Rheinland.

Westlake recently released its 2020 ESG Report, Essential Products, Critical Innovations, which provides details on its ESG goals and achievements for its operations, safety, products and people, and includes information on lower-carbon product development and more sustainable manufacturing. Procuring green power – in addition to the continuous improvement of the energy efficiency of the production processes – is a step toward achieving CO2-neutral PVC supply. These efforts also support the energy transition and the European Green Deal. In addition, Vinnolit is working with partners to also offer bio-attributed PVC, based on bio-ethylene.

"With GreenVin™, we are working to make the entire Vinnolit product portfolio, including PVC, more environmentally friendly and sustainable," Schellerer added. "At Westlake and Vinnolit, we are proud to be doing our part for a stronger industry and sustainable future.”

VINNOLIT

As a leading manufacturer of PVC and reliable partner for caustic soda, Vinnolit, a Westlake company, offers individual solutions for customers from a wide range of industries, such as the construction sector, the automotive industry, medical technology or pulp and paper production. As a manufacturer of high-quality PVC specialties, Vinnolit is a global market leader. At its headquarters in Ismaning near Munich and its four production sites in Burghausen, Gendorf, Knapsack and Cologne, 1,400 employees generate sales of around €1 billion per year.

Vinnolit participates in the worldwide Responsible Care program of the chemical industry to continuously improve safety, health and environmental protection and supports VinylPlus, the voluntary commitment of the European PVC industry towards sustainable development, as ‘Official Partner’ financially, ideally and through active participation.

www.vinnolit.com

WESTLAKE CHEMICAL CORPORATION (WLK)

Westlake is a global manufacturer and supplier of materials and innovative products that enhance life every day. Headquartered in Houston, we provide the building blocks for vital solutions – from packaging and healthcare products to automotive and consumer goods, to building and construction products. For more information, visit the company´s website at www.westlake.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211117005297/en/

Media Relations:

Dr. Oliver Mieden, Head of Environmental Affairs & Corporate Communications

Vinnolit GmbH & Co.

Tel.: +49 89 96103-282, E-Mail: oliver.mieden@vinnolit.com

Chip Swearngan, Director, Corporate Communications & Governmental Relations

Westlake Chemical Corporation

Tel.: +1 713 960 9111, E-mail: mediarelations@westlake.com

Source: Westlake Chemical Corporation

FAQ

What is GreenVin™ PVC launched by Westlake Chemical Corporation?

GreenVin™ PVC is a lower-carbon alternative to traditional PVC, designed to meet sustainability goals and reduce carbon emissions.

How much carbon dioxide does GreenVin™ PVC save compared to traditional PVC?

GreenVin™ PVC saves approximately 25% in carbon dioxide emissions compared to conventionally produced PVC.

When was GreenVin™ PVC launched?

GreenVin™ PVC was launched in late 2021, following the introduction of lower carbon caustic soda in February 2021.

Which subsidiary of Westlake Chemical Corporation is responsible for GreenVin™ PVC?

GreenVin™ PVC is launched by Westlake's subsidiary, Vinnolit, based in Germany.

What market demand does Westlake Chemical Corporation's GreenVin™ PVC aim to address?

The launch aims to meet rising market demand for lower-carbon plastics and sustainable materials in various industries.