BASF SE is preparing its agriculture business for an IPO as it grapples with a challenging business environment in Europe, sources familiar with the plan told Bloomberg News. BASF’s Agricultural Solutions business reported sales of €10.1 billion in 2023, 14.6% of the company’s total net revenue.
BASF told CW it does not comment on “market rumors or speculations” and that it will present its strategy at the upcoming capital markets day on Sept. 26–27. Next week’s event could also include updates on BASF’s coatings and battery materials businesses, the source said.
BASF’s Agricultural Solutions business includes digital farming, field crop seeds and traits, fungicides, herbicides and insecticides. Fungicides and herbicides each comprises about a third of Agricultural Solutions sales. BASF said the segment has an innovation pipeline with a peak sales potential of more than €7.5 billion by 2023 and includes the industry’s first commercial biotechnology trait to control nematodes as well as a new protoporphyrinogen oxidase (PPO) herbicide with corresponding herbicide tolerance gene.
The global crop protection market has struggled since 2022 as destocking, stabilizing grain and oilseed inventories, and price competition have offset lower costs and volume growth. Bayer AG (Leverkusen, Germany), the largest crop protection company globally, said late last year it was considering separating out its consumer health or crop science division but ultimately shelved the idea, citing research and development synergies.
by Rebecca Coons
Source: chemweek.com
INEOS has completed the pilot phase of its European cross-border carbon capture and storage (CCS) project, which has transported CO2 from Belgium to the North Sea. Project Greensand comprises of a consortium of 23 Danish and international companies, startups, and research institutes aiming to store up to 1.5m t/y of CO2 in the Danish North Sea by 2026, and a further 8m t/y by 2030.
Neste, ITOCHU Corp. and GS Caltex have collaborated to make the first batch of CORSIA-eligible ISCC-certified sustainable aviation fuel (SAF) available for purchase at Narita International Airport in Japan. This is the first time that CORSIA-certified SAF was made available for airlines’ regular purchase at commercial scale, well ahead of the start of CORSIA’s mandatory phase in 2027.
The end-to-end, risk-based platform, powered by Cordant, supports regulatory reporting and operational risk management by offering real-time data and alerts for CO₂ flows across CCUS infrastructure. CarbonEdge provides an integrated dashboard that connects the entire CCUS project life cycle.
