Braskem Signs Agreement with Coolbrook and Ramps up Investments to Meet Carbon Neutrality Target
São Paulo, February 9th, 2023 - Braskem (B3: BRKM3, BRKM5, and BRKM6; NYSE: BAK; LATIBEX: XBRK), the largest polyolefins producer in the Americas, as well as a global market leader and pioneer producer of biopolymers on an industrial scale, and Coolbrook, a transformational technology and engineering company that owns a disruptive technology called RotoDynamic Reactor (RDR), today announced the signing of a cooperation agreement.
As part of its commitment to implementing new technologies and solutions that drive sustainable development and, especially, combating climate change, Braskem and Coolbrook will jointly implement a pilot project in which Braskem will assess using the latter's technology on an industrial scale before introducing it in its crackers. The project ultimately involves the electrification of crackers by replacing the use of thermal energy derived from fossil fuel with electricity generated from renewable sources, which is one of the ways for Braskem to achieve its goal of carbon neutrality by 2050. Besides eliminating emissions from burning fuels, the technology can increase feedstock flexibility and yields while also contributing to energy efficiency compared to traditional cracking technologies. As such, the potential reduction of CO2 emissions at Braskem's crackers will be around 2.5 million ton per year.
This initiative is linked to Braskem's business strategies aimed at meeting the targets related to combating climate change. The company plans to reduce greenhouse gas emissions by 15% by 2030 and attain carbon neutrality by 2050.
"Our ambition is to considerably reduce CO2 emissions and increase the sustainability of our products through innovation, in-house developments, and important partnerships. Coolbrook's revolutionary RDR technology will help Braskem achieve its goal of carbon neutrality by 2050, significantly improving the energy efficiency of our crackers," said Gus Hutras, Global Process Technology Director, Braskem.
Expanding the use of renewable electricity and renewable materials will enable Braskem to reduce its carbon footprint in the production of ethylene, propylene, and other chemicals.
"We are an innovative company that is always on the move in the pursuit of carbon neutrality solutions. The agreement with Coolbrook is yet another example of Braskem's investments in disruptive technologies that significantly contribute to the achievement of our targets," explained Jorge Soto, Sustainable Development Director, Braskem.
"Braskem is one of the biggest chemical players in the Americas, and this cooperation is a significant step in Coolbrook's strategy to decarbonize the petrochemical sector globally. Braskem is known for its innovative culture and readiness to implement cutting-edge technologies, for example, in the production of ethylene from renewable raw materials," said Joonas Rauramo, CEO, Coolbrook.
For more information, visit coolbrook.com/
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