Braskem S.A. BAK

MITEI Connects MIT's World-Class Research Teams with Industry and Government to Develop Solutions to the World's Energy Challenges

Through MITEI Braskem will Participate in New Future Energy Systems Center Research Consortium

PHILADELPHIA, Nov. 28, 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 joined the MIT Energy Initiative (MITEI) to help support and fund relevant research to advance the energy transition.

MITEI serves as MIT's hub for energy research, education, and outreach. In October 2021, the initiative launched the Future Energy Systems Center, a new research consortium designed to address the climate crisis and examine the role energy systems have in addressing it. As a member-supported research consortium, the Center collaborates with industrial experts and leaders — from both energy's consumer and supplier sides — to gain insights that help researchers anticipate challenges and opportunities of deploying technology at the scale needed to achieve decarbonization. 

"We are honored to join the MIT Energy Initiative alongside several leaders within the industrials space that share our dedication to creating a safer planet and a more sustainable future," said Joshua Taylor, Open Innovation Specialist at Braskem America. "Through this membership, we hope to gain insights that will support Braskem's sustainability journey as well as contribute to research that is critical to addressing the climate crisis and creating solutions to reimagine the world's energy systems."

"We welcome Braskem to the Future Energy Systems Center at the MIT Energy Initiative," said Randall Field, executive director of the Center. "MIT has a long tradition of engaging with industry to solve the planet's most vexing problems. Braskem, with its focus on innovation and commitment to the energy transition, will provide welcome insights that can help inform our multi-sectorial research agenda."

Braskem has committed to a three-year membership agreement with MITEI and will participate alongside peer companies in offering guidance to research projects that are aligned with the company's long-term sustainability commitments. A committee of 11 MIT professors selects projects to create a research program with a high impact on decarbonization, while leveraging MIT's strengths and addressing the interests of center members in pragmatic and scalable solutions.

From promoting plastic circularity to driving the bio-based materials revolution, Braskem is committed to lowering 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 Braskem 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.

The MIT Energy Initiative is MIT's hub for energy research, education, and outreach. MITEI links world-class academic research teams with industry and government to respond to specific energy challenges. Through these engagements, MITEI develops low- and no-carbon emissions solutions that will efficiently and affordably meet global energy needs while minimizing environmental impacts, dramatically reducing greenhouse gas emissions, and mitigating climate change. For more information, visit: https://energy.mit.edu/

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 six 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