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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| BASF AG | TG:BAS | Tradegate | Ordinary Share |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30 | 0.62% | 49.05 | 48.90 | 49.20 | 49.485 | 48.50 | 48.70 | 241,006 | 22:50:04 |
From May 2019 to May 2024
By Dieter Holger
BASF SE, Linde PLC and Saudi Basic Industries Corp. applied for grants from the European Union and Germany to launch an electric furnace that can emit far less carbon dioxide than current furnaces that rely on fossil fuels.
The German chemicals maker said Wednesday that the companies signed a joint agreement to develop and demonstrate electrically heated steam-cracker furnaces, which provide heat to breakdown hydrocarbons to create chemicals. If the furnaces use electricity from renewable power, they could cut up to 90% of emissions.
A demonstration plant could start at BASF's Ludwigshafen site as early as 2023.
"This technology leap will be a milestone on the path to a low-emission chemical industry," said Martin Brudermueller, BASF's chairman of the executive board.
Write to Dieter Holger at dieter.holger@wsj.com; @dieterholger
(END) Dow Jones Newswires
March 24, 2021 11:06 ET (15:06 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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