Braskem Selected to Negotiate Terms of a Prestigious $50 Million Award from U.S. Department of Energy to Drive Electrification Revolution
23 Septembre 2024 - 2:00PM
Business Wire
Braskem’s UTEC® - Accelerating the Future of
U.S. Lithium-Ion Battery Manufacturing
Braskem (B3: BRKM3, BRKM5, and BRKM6; NYSE: BAK; LATIBEX: XBRK),
the Americas' leading polyolefins producer and a global pioneer in
biopolymers, today proudly announces that the company has been
selected by the U.S. Department of Energy’s Office of Manufacturing
and Energy Supply Chains to negotiate terms of a $50 million award
under the Bipartisan Infrastructure Law. This landmark funding
would expand Braskem's ultra-high molecular weight polyethylene
(UHMWPE) production capabilities in La Porte, Texas, specifically
targeting the lithium-ion battery separator (LIBS) market.
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the full release here:
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Braskem's UTEC facility in La Porte,
Texas (Photo: Business Wire)
Braskem sells UHMWPE under the trade name UTEC® (“UTEC”). By
driving innovation in UTEC technology, this project would
strengthen the lithium-ion battery value chain in the United States
and is expected to generate over 250 skilled jobs across
engineering, procurement, construction, and start-up phases.
Mark Nikolich, CEO of Braskem America, Inc., commented, “Braskem
is honored to be selected by the U.S. Department of Energy to
negotiate this award as we look to help drive further momentum in
U.S. battery manufacturing capabilities. This award would not only
accelerate our ability to meet the growing demands of our North
American clients but also solidify our commitment to powering the
electrification revolution with domestically produced, world-class
UHMWPE. This funding would be a critical catalyst for the ongoing
growth and success of our clients.”
UTEC has superior chemical stability, corrosion resistance,
tensile strength, thermal stability, and porosity, making it the
ideal material for lightweight electric vehicle battery separators,
helping improve battery charging efficiency and ultimately reducing
carbon emissions. With a molecular weight roughly 10 times higher
than standard high density polyethylene (HDPE) resins, UTEC also
offers unparalleled performance across a wide range of additional
demanding applications in the following industries: construction,
agriculture, material handling, transportation, textile, pulp, and
paper, food and beverage, mining, marine, porous plastics, oil and
gas, high-performance fibers, and wastewater treatment.
To learn more about Braskem’s UTEC® UHMWPE product portfolio
please visit https://www.braskem.com/utec.
About DOE’s Office of Manufacturing and Energy Supply
Chains
MESC plays a critical and unique role in catalyzing investments
in America’s energy future to support the re-shoring, skilling, and
scaling of U.S. manufacturing across energy supply chains. MESC
serves as the frontline of clean energy deployment and accelerates
America’s transition to a resilient, equitable energy future
through data-driven investments in manufacturing capacity and
workforce development. Learn more at: www.energy.gov/mesc or
LinkedIn.
ABOUT BRASKEM
With a global vision of the future oriented toward people and
sustainability, Braskem is committed to contributing to the value
chain for strengthening the Circular Economy. The petrochemical
company’s almost 9,000 team members dedicate themselves every day
to improving people’s lives through sustainable chemicals and
plastics solutions. Braskem has an innovative DNA and a
comprehensive portfolio of plastic resins and chemical products for
diverse segments, such as food packaging, construction,
manufacturing, automotive, agribusiness, healthcare, and hygiene,
among others. With 40 industrial units in Brazil, the United
States, Mexico, and Germany, Braskem exports its products to
clients in more than 70 countries.
Braskem America is an indirect wholly owned subsidiary of
Braskem S.A. headquartered in Philadelphia. The company is the
leading producer of polypropylene in the United States, with five
production plants located in Texas, Pennsylvania, and West
Virginia, an Innovation and Technology Center in Pittsburgh, and
operations in Lexington, MA focused on leveraging groundbreaking
developments in biotechnology and advanced materials. For more
information, visit www.braskem.com/usa.
Braskem on English social media:
www.facebook.com/BraskemGlobal
www.linkedin.com/company/braskem
FORWARD-LOOKING STATEMENT This press release contains
projections and other forward-looking statements (within the
meaning of the Private Securities Litigation Reform Act of 1995,
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended) regarding
future events. These statements reflect Braskem’s current beliefs
and expectations with respect to Braskem’s business, the economy
and other future conditions and are based on assumptions, are
subject to risk and uncertainties and are subject to change at any
time. Actual events or results may differ materially from those
contained in such forward-looking statements. Important factors
that could cause actual results to differ materially from the
forward-looking statements contained herein include, without
limitation: (i) the ability of Braskem and the U.S. Department of
Energy’s Office of Manufacturing and Energy Supply Chains to reach
acceptable award terms; (ii) the contraction or lack of growth in
the lithium-ion battery separator market (iii) unexpected delays or
other problems in production at Braskem facilities, (iv) increased
competition from imports or in the export markets, (v) inability to
anticipate future trends in the lithium-ion battery separator
market and the future needs of Braskem’s customers, (vi) the impact
of natural disasters on Braskem’s facilities, its suppliers and
customers; (vii) the development of alternate products, and (viii)
other factors detailed in documents Braskem S.A. files from time to
time with the Securities and Exchange Commission. Forward-looking
statements in this release are made pursuant to the safe harbor
provisions contained in the Private Securities Litigation Reform
Act of 1995.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240923835464/en/
For press information, please contact:
Braskem North America Stacy Torpey – (215) 841 3194 –
stacy.torpey@braskem.com
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