Vulcan and BASF have signed a memorandum of understanding in the presence of Daniela Schmitt, Minister of Economic Affairs, Transport, Agriculture and Viniculture for Rhineland-Palatinate, to explore the use of geothermal energy at the chemical company’s Ludwigshafen site as part of a strategic partnership. The partners aim to jointly evaluate opportunities for harnessing natural heat from deep geothermal sources to supply BASF’s largest site with renewable energy capable of meeting base load power requirements in the future. The surrounding urban centers of Frankenthal and Ludwigshafen also stand to benefit from the sustainable heat and are participating in the necessary seismic surveys as a first step. In order to make optimal use of synergy effects from the project, Vulcan plans to build a lithium extraction plant for the production of green lithium.

The Board of Executive Directors of BASF SE has decided on the following personnel changes: