LUDWIGSHAFEN, Germany,
Feb. 10, 2015 /PRNewswire/
-- The Open Innovation Contest BASF is starting today aims to
find ideas to store energy from renewable energy sources. The
context calls for sustainable technologies which are capable of
storing power from the grid and feeding it back into it. Together
with companies, scientists, start-ups and inventors, BASF is
looking for efficient solutions to store electricity on a long-term
basis, which are financially viable, for example through lower
investment costs. Innovative chemistry should play a central role
in the submitted proposals.
Ideas can be submitted online until June
2, 2015, at NineSights (www.ninesigma.com/). BASF employees
are excluded from participation. A jury of BASF experts and
external specialists will choose the best proposals and award up to
five winners. The winners will be announced in November 2015. Each of them receives a prize of
€100,000. The winners also have the chance to collaborate with BASF
in a research project based on their idea.
With the aim to find new ideas and contacts, the competition is
an important part of the co-creation program BASF has launched in
its anniversary year. This program, called Creator
SpaceTM, consists of innovative formats for virtual and
live discussions and also includes three science symposia. Through
it, new ideas will be collected and discussions on the topics
energy, food and urban living initiated. The goal is to bring
people and ideas together to work on solutions for societal
challenges. The Open Innovation Contest on energy storage is led by
the BASF research unit "Process Research and Chemical
Engineering."
Worldwide more and more electricity is being produced from
renewable energy sources. However, they are not available around
the clock, since the electricity produced from sun and wind depends
on weather, time and season. There are both phases with a surplus
of electricity and phases in which no electricity is generated. To
ensure a continuous power supply, the electricity from renewable
energy sources must be stored before it is delivered to the
consumer. So far, however, the storage of excess energy is not yet
financially viable.
For further information about the Open Innovation Contest visit:
www.basf.com/energy-contest
About BASF
At BASF, we create chemistry – and have been doing so for 150
years. Our portfolio ranges from chemicals, plastics, performance
products and crop protection products to oil and gas. As the
world's leading chemical company, we combine economic success with
environmental protection and social responsibility. Through science
and innovation, we enable our customers in nearly every industry to
meet the current and future needs of society. Our products and
solutions contribute to conserving resources, ensuring nutrition
and improving quality of life. We have summed up this contribution
in our corporate purpose: We create chemistry for a sustainable
future. BASF had sales of about €74 billion in 2013 and over
112,000 employees as of the end of the year. BASF shares are traded
on the stock exchanges in Frankfurt (BAS), London (BFA) and Zurich (AN). Further information on BASF is
available on the Internet at www.basf.com.
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SOURCE BASF