In Brussels, major chemical maker Solvay has declared renewable materials and biotechnology a major pillar of future growth. The company, which reported $10.6 billion in sales last year and is among Europe’s largest chemical producers, says the platform will build on its already leading position in biobased products that includes guar, solvents, and vanillin. Its other growth platforms are battery materials, green hydrogen, and thermoplastic composites.
“The sustainable use of renewable resources and biotechnology has gained momentum in the industry and has the potential to help solve some of the most pressing challenges faced by society today,” Solvay CEO Ilham Kadri says in a press statement. “Through our new growth platform, we aim to connect with our partners to reinvent progress, as we have done throughout our 160-year history, playing a key role in the chemical industry’s transition to the bioeconomy and helping to create the sustainable and circular solutions required by society.”
Solvay says it will pursue products with applications in agrochemicals, personal care, food and flavors, and advanced materials for transportation and aerospace. The company expects products made using synthetic biology to account for a third of global manufacturing by the end of 2030.