Venture Capital and business adjustment
- Restructured existing businesses to focus on growth market
- Invested in photonic crystal metamaterial engineering and microsphere manufacturing
In July 2023, BASF completed the carve-out of its mobile emissions catalysts and precious metal services businesses, establishing a new independent entity called BASF Environmental Catalyst and Metal Solutions (ECMS). With this successful carve-out, BASF has seized market opportunities to meet the more stringent and heavy-duty emissions regulations, while further developing circular solutions and the hydrogen economy.
BASF and Huntsman, together with their Chinese partner companies – Shanghai Hua Yi (Group Company), Sinopec Shanghai Gaoqiao Petrochemical Co., Ltd., and Shanghai Chlor-Alkali Chemical Co., Ltd. separated their joint MDI production at Shanghai Lianheng Isocyanate Co., Ltd. (SLIC) in 2023. The companies now operate the two MDI plants independently. Huntsman together with Shanghai Chlor-Alkali Chemical Co., Ltd, and BASF together with Shanghai Hua Yi (Group Company) and Sinopec Shanghai Gaoqiao Petrochemical Co., Ltd each take over one of the MDI plants. The new organizational setup allows BASF and its partners to further develop the MDI operations in Shanghai while serving local customers more effectively.
BASF Venture Capital announced its investment in Phomera Metamaterials Inc., a leading technology company specializing in photonic crystal metamaterial engineering and microsphere manufacturing. The investment positions BASF on the frontlines of the technology revolution, and Phomera's innovative application to the various industries will help both companies achieve their corporate sustainability goal.
