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LONDON, UK / ACCESSWIRE / November 14, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Braskem S.A. (NYSE: BAK), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=BAK. The Company, which is a global leader in plastics and chemical industry, and Danish-based Haldor Topsoe, a world leader in catalysts and surface science technologies, entered into a technological cooperation agreement for developing a revolutionary route to produce monoethylene glycol (MEG) from sugar on November 10, 2017. For immediate access to our complimentary reports, including today's coverage, register for free now at:

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Discover more of our free reports coverage from other companies within the Chemicals - Major Diversified industry. Pro-TD has currently selected FMC Corporation (NYSE: FMC) for due-diligence and potential coverage as the Company reported on November 06, 2017, its financial results for Q3 2017. Tune in to our site to register for a free membership, and be among the early birds that get our report on FMC Corp. when we publish it.

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What is MEG?

  • Monoethylene glycol (MEG) is basically an important component of PET (Polyethylene terephthalate) resin.

  • PET is the main man-made raw material, which is extensively used by a number of industries. In fact, it is the most common thermoplastic polymer resin of the polyester family and is used in fibers for clothing, bottles for liquids and foods, thermoforming for manufacturing, and in combination with glass fiber for engineering resins.

  • The above-mentioned MEG production project comprises a two-step process developed at Topsoe's labs along with own catalysts. The process focuses on the conversion of sugar into MEG at a single industrial unit. This will bring down the initial production investment and also enhance the competitiveness of the process.

About Haldor Topsoe's Innovative Catalysis Technology

Haldor Topsoe enables its customers to get the most out of their processes and products, using the least possible energy and resources, in the most responsible way. Headquartered in Denmark, the Company has project development, R&D, engineering, production plants, and sales & service facilities across the globe now.

Kim Knudsen, the Executive Vice President at Haldor Topsoe shared his views about the agreement with Braskem. He stated that catalysis would play an important role in the development of sustainable solutions that produce important chemicals from renewable sources such as sugars. He was extremely proud to share this pioneering technology with Braskem. In fact, he looks forward to utilizing its catalysis and process engineering competencies in the further commercialization of this important technology.

Setting up of a Demonstration Plant in Denmark

  • As per the agreement, a demonstration plant for MEG will be set up in Denmark, wherein operation is expected to commence in 2019.

  • However, prior to launching production on an industrial scale, the demonstration plant will conduct several tests to validate the technology and confirm its technical and economic feasibility.

  • Braskem aims to make the demonstration unit in Denmark flexible enough to validate the technology in different raw materials such as sucrose, dextrose, and second-generation sugars.

A Step Towards a Sustainable Future

Braskem is the largest producer of thermoplastic resins in the Americas and the leading producer of biopolymers in the world. The Company constantly works towards creating more and more environmental-friendly, intelligent, and sustainable solutions through chemicals and plastics.

Mateus Lopes, Head of Innovation in Renewable Chemicals at Braskem believes this new initiative for production of MEG from sugar will help Braskem take its renewable chemistry game to a whole new level. This new bio-based initiative, which is based on a cutting-edge technology with deep expertise in process design, will help Braskem contribute more to the sustainable future. He believes that this agreement marks Braskem's next major step towards its vision of using renewable polymers as a carbon capture tool, after the Green Polyethylene.

I'm green polyethylene is a bio-based thermoplastic resin derived from sugarcane. Its main advantage is that it helps to reduce greenhouse gases in the air by capturing CO2 during its production cycle.

Gustavo Sergi, director of Renewable Chemicals at Braskem, also had similar views. He stated that this new partnership would reinforce Braskem's position as a protagonist in the development of innovative solutions, which utilize the competitiveness of different biomasses and complement the traditional solutions offered by the petrochemical industry. This agreement would help Braskem enhance its portfolio of renewable products to offer new solutions that complement its bio-based polyethylene marketed with the ?I'm green' seal

Last Close Stock Review

Braskem's share price finished yesterday's trading session at $29.57, dropping 1.53%. A total volume of 671.27 thousand shares have exchanged hands, which was higher than the 3-month average volume of 485.68 thousand shares. The Company's stock price skyrocketed 23.05% in the last three months, 39.81% in the past six months, and 77.28% in the previous twelve months. Additionally, the stock soared 39.42% since the start of the year. Shares of the Company have a PE ratio of 32.53 and currently have a market cap of $12.01 billion.

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