Braskem Announces $671,000 REMADE Institute Grant Award For Advanced Manufacturing Of Sustainable And Recyclable Multilayer Plastic Films
Portfolio Pulse from Benzinga Newsdesk
Braskem (NYSE:BAK) has been awarded a $671,000 grant from the REMADE Institute, funded by the U.S. Department of Energy, for its polymer recycling technology research partnership. The project, in collaboration with the University of Massachusetts Lowell, Dow Chemical, and Aquapak, aims to develop advanced manufacturing technology for sustainable and recyclable multilayer plastic films. Braskem's goal is to include 300,000 tons of recycled content in its products by 2025 and 1 million tons by 2030, while also reducing greenhouse gas emissions. The REMADE Institute has funded nearly 100 R&D projects since 2017, focusing on reducing energy and emissions in industrial materials production.
November 20, 2023 | 1:16 pm
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POSITIVE IMPACT
Braskem has received a significant grant to support its research in sustainable materials, aligning with its goals for recycled content and emission reductions. This positions the company as a leader in the circular economy and could enhance its reputation and market opportunities.
The grant award is likely to have a positive impact on Braskem's stock in the short term as it reflects the company's commitment to sustainability and innovation. This could attract investors interested in environmentally responsible companies and potentially open up new business opportunities for Braskem. The company's clear goals for incorporating recycled content and reducing emissions further strengthen the positive outlook.
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