BASF, Siemens Energy Join Hands to Cooperate in the Field of Carbon Management

As part of a strategic partnership, BASF and Siemens Energy partnered to accelerate commercial implementation of new technologies designed to lower greenhouse gas emissions.

February 09, 2021. By News Bureau

As part of a strategic partnership, BASF and Siemens Energy partnered to accelerate commercial implementation of new technologies designed to lower greenhouse gas emissions.

By combining BASF’s technological expertise with Siemens Energy’s innovative product and services portfolio, BASF aims to extend its leading role in lowering CO2 emissions in chemical production. Several pilot projects at its Ludwigshafen site are under discussion. BASF’s headquarters is one of the largest chemical production sites in the world.

As part of a strategic partnership, the two companies plan to accelerate commercial implementation of new technologies designed to lower greenhouse gas emissions.

Commenting on the development, Dr. Christian Bruch, Chief Executive Officer of Siemens Energy AG: “BASF is in a leading position in the chemical industry and is a pioneer in the area of innovation for climate-compatible production of chemicals. Numerous future technologies are still at an early stage of development. By joining forces with BASF, we want to exploit the experience gained in pilot projects as a basis for implementation of new technologies and concepts and thus play an active role in shaping the energy transition in the process industry. Our strategic objective, in our role as a reliable and experienced partner for all types of energy systems, is to help address the growing demand for goods and services and at the same time contribute towards achieving the climate protection targets on our path to a more sustainable world.”

“By cooperating with Siemens Energy, we stand to benefit from the expertise of a first-class partner for implementing our carbon management, a partner with whom we can accomplish projects of a commercial scale. At BASF, we want to develop and implement new low-CO2 technologies as quickly as possible. If we want to use such technologies on a large scale, we will need appropriate regulatory framework conditions and targeted support. We need renewable electricity in large quantities for this, and we need it at competitive prices,” said Dr. Martin Brudermüller, Chairman of the Board of Executive Directors of BASF SE.

Both the companies have signed a memorandum of understanding for their strategic partnership, which will focus above all on supporting the chemical company in achieving its ambitious climate targets. For Siemens Energy, the partnership represents a further key step toward pursuing its strategic goals, namely low-emission or emission-free generation of electricity and heat, transmission and storage of electricity, a smaller carbon footprint and lower energy consumption in industrial processes as well as shaping a sustainable hydrogen economy.

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