Braskem S.A. BAK

Partnership Connects Braskem with the Largest Climatetech Startup Incubator in North America

Cleantech Startup Community Connections Align with Braskem's Commitment to Low Carbon Circular Economy

PHILADELPHIA, Nov. 30, 2022 /PRNewswire/ -- Braskem (B3: BRKM3, BRKM5, and BRKM6; NYSE: BAK; LATIBEX: XBRK) the largest polyolefins producer in the Americas, as well as a market leader and pioneer producer of biopolymers on an industrial scale, today announced it has joined Greentown Labs, the largest climatetech startup incubator in North America, as a Gigawatt Partner.

Making the announcement, Jake Harrison, Open Innovation Specialist, Braskem America, stated, "We are truly delighted to join the Greentown Labs partner ecosystem to expand our opportunity to engage and collaborate with emerging startups building solutions in the materials, chemicals, recycling, and energy arenas. This like-minded community shares our commitment to a more sustainable future and discovering innovative solutions that support our vision for a low-carbon circular economy. As a new Gigawatt Partner, Braskem will connect with a dedicated community of entrepreneurs and utilize our strength and expertise to bring essential technologies to more sustainable materials and chemicals markets."

Greentown Labs offers more than 200 startups in Boston, MA, Houston, TX, and globally the expertise, resources, and support they need to change the world. Whether that involves introductions to strategic partners or high-end equipment or the community itself, less than a decade after its founding Greentown has buoyed hundreds of cutting-edge startups that are tackling climate change head-on.

"The climate crisis urgently demands sweeping climatetech deployment across all sectors of the economy," says Greentown Labs CEO Dr. Emily Reichert. "While startups bring innovative solutions, partnering with corporations such as Braskem creates pathways to accelerate commercialization and scale. Braskem is uniquely positioned to help decarbonize the plastics sector and move us toward a truly circular economy, and we are proud to have them join our network of corporate partners. We look forward to seeing many fruitful engagements between their industry experts and our entrepreneurs."

Braskem's goal is to be a global leader in sustainable development in the petrochemical industry. As a Greentown Labs Gigawatt Partner, Braskem will participate alongside industry and sector peers in fostering new technologies that are aligned with its sustainability targets. Additionally, Braskem will participate in innovation days, forums, and other Greentown ecosystem events.

From promoting plastic circularity to driving the bio-based materials revolution, Braskem is committed to diminishing the dependency on finite resources and reducing carbon emissions while generating a positive impact for a better society.

Braskem has clearly stated targets for growing the company's recycled content product portfolio to sales of 300,000 tons by 2025 and 1 million tons by 2030. Braskem's transition to a circular economy is deeply rooted in mechanical and advanced recycling solutions. By engaging and investing in partnership with other value-chain players, the company is strengthening mechanical and advanced recycling, overcoming barriers, and ensuring the increased production of high-quality recycled material.  All these initiatives are aligned with Braskem's feedstock diversification strategy and its macro goals of expanding the circular economy concept in the plastics chain and becoming a carbon-neutral company by 2050.

To learn more visit https://www.braskem.com/usa/macroobjectives.

Greentown Labs is a community of climate action pioneers working to design a more sustainable world. As the largest climatetech startup incubator in North America, Greentown Labs brings together startups, corporates, investors, policymakers, and many others with a focus on scaling climate solutions. Driven by the mission of providing startups the resources, knowledge, connections, and equipment they need to thrive, Greentown Labs offers lab space, shared office space, a machine shop, an electronics lab, software and business resources, and a large network of corporate customers, investors, and more. With incubators in Somerville, Mass. and Houston, Texas, Greentown Labs is home to more than 200 startups and has supported more than 500 since the incubator's founding in 2011. These startups have collectively created more than 9,000 jobs and have raised more than $4 billion in funding. For more information, please visit www.greentownlabs.com.

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 8,000 team members dedicate themselves every day to improve 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, and 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 Boston focused on leveraging groundbreaking developments in biotechnology and advanced materials. For more information, visit www.braskem.com/usa.

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SOURCE Braskem