Braskem S.A. (B3: BRKM3, BRKM5, and BRKM6; NYSE: BAK; LATIBEX: XBRK) ("Braskem"), the largest polyolefins producer in the Americas, as well as a market leader and pioneer producer of biopolymers on an industrial scale, and Lummus Technology, a global provider of process technologies and value-driven energy solutions, have formed a partnership that aims to license Braskem's technology to produce green ethylene worldwide. This partnership will accelerate the use of bioethanol for chemicals and plastics, supporting the industry's efforts toward a carbon neutral circular economy.
Braskem is one of the pioneer suppliers of renewable raw materials for bio-based plastics production and has recently announced a target to produce 1 million tons of I'm greenT polyethylene by 2030. Cooperation will be key to achieving this goal and this new partnership with Lummus will bring complementary knowledge and skills to shorten the timeline to the target, while at the same time extending the geographic reach of the technology.
Lummus, a recognized leader in ethylene production technologies, has licensed approximately 40 percent of global ethylene capacity, giving the company the technical capability as well as the licensing expertise to further develop and market the technology behind green ethylene. This partnership enables the license of the technology globally, in addition to the first two projects being developed in the US and Thailand, the latter still under evaluation and subject to the approvals of the respective competent governance bodies.
This partnership is also aligned with Braskem's purpose to make people's lives better and support ways to foster a safe climate future. The demand for green ethylene is growing and the licensing of a proven technology that has been used for more than 10 years provides the necessary confidence for future investments. Together, Braskem and Lummus are ensuring the growth of green ethylene production worldwide.
"Lummus brings licensing experience and process knowledge into this partnership to extend the reach of Braskem's proven green ethylene technology worldwide. With this initiative, we believe we are also contributing with an alternative for the industry to move towards a carbon neutral circular economy" said Walmir Soller, VP Olefins/Polyolefins Braskem Europe & Asia, and CEO Braskem Netherlands BV.
"We are truly excited with this partnership, which helps the world shift from fossil fuels to diversify the feedstock sources for chemicals and plastics with biomass as a feed source for chemicals and plastics. Leveraging the combined experience and expertise of Lummus and Braskem to produce green ethylene thus reduces carbon footprint and plays a promising role in the energy transition. Braskem has already been operating the technology successfully at a large scale, and together we are going to expand the world's production of low carbon chemicals and biopolymers from renewable feedstocks, helping our customers decarbonize their assets and produce greener products," said Leon de Bruyn, President, and Chief Executive Officer of Lummus Technology.
About Lummus Technology
Lummus Technology is the global leader in developing process technologies that make modern life possible and focus on a more sustainable, low-carbon future. Lummus is a master licensor of clean energy, petrochemical, refining, gas processing, and renewable technologies, and a supplier of catalysts, proprietary equipment, digitalization, and related lifecycle services to customers worldwide. To learn more about Lummus, visit www.LummusTechnology.com .