Shanghai, China, and Ludwigshafen, Germany, May 27, 2019 – BASF Venture Capital is investing in the Longwater Advanced Materials Fund. This private equity fund is managed by Longwater Investment, a pioneer growth capital investor in advanced materials and chemistry-related technologies in China. BASF Venture Capital is one of several Limited Partners; other investors include Xiamen C & D, CICC Genesis and Tsinghua Redbud.
The production processes of the most important basic chemicals are responsible for around 70 percent of the greenhouse gas emissions in the chemical industry. BASF experts are working intensely on new technologies to substantially reduce emissions in these processes. The company has bundled all of this work under the roof of its ambitious Carbon Management Program. One of the first visible successes in this area has been achieved by a project team which has applied to patent a process to produce methanol without any greenhouse gas emissions. If it can be successfully implemented at an industrial scale, the entire production process – from syngas production to pure methanol – will no longer release any carbon dioxide emissions.
BASF plans to build an engineering plastics compounding plant and a thermoplastic polyurethane (TPU) plant at the company’s proposed integrated chemical production (“Verbund”) site in Zhanjiang, China. These will be the first production plants to come onstream at the site.