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Friday - October 27, 2017

New view of CO2 in run-up to Climate Change Summit in Bonn

From waste gas to raw material

Carbon dioxide a substitute for petroleum in the chemical industry

Carbon dioxide: enormous amounts of carbon dioxide escape from buildings, cars, factories and power plants. In the future, however, this gas is to do more than just dissipate unused into the atmosphere: the chemical industry is now turning CO2 into a new building block for high-performance plastics to preserve scarce fossil resources like petroleum. Its approach is right in line with current trends, especially in view of the global Climate Change Summit beginning in Bonn, Germany, on November 6. Covestro considers itself a pioneer in the field of CO2 exploitation and is partnering with other companies and universities on numerous projects.

Just a few weeks ago, another European joint initiative was launched: a new consortium of 14 partners from seven countries, led by Covestro, now plans to investigate how CO2 and other waste gases from the steel industry can be used efficiently and sustainably to produce inputs for insulating materials and coatings.

European cooperation

The new project is sponsored by the European Commission and introduces an unprecedented cooperation extending from waste gas producers to plastics manufacturers. A possible production facility could be built in southern France, where an ArcelorMittal steel factory and a Covestro site are close neighbors.

“The numerous initiatives surrounding CO2 exploitation put this waste gas in a new light and help to expand the chemical industry’s raw materials base,” explains Dr. Markus Steilemann, Covestro Board Member responsible for Innovation, Marketing and Sales. “Resource efficiency is one of the driving forces behind a more sustainable future, and we want to move it forward with innovative solutions, in line with our vision to make the world a brighter place.”

Covestro has already been using carbon dioxide since last year to produce a precursor for flexible foam. It contains up to 20 percent CO2, which is chemically bound. This will make it possible to save the same amount of petroleum.The foam was designed specifically for use in upholstered furniture and mattresses.

At the same time, the company is researching additional areas of application for CO2-based raw materials. The use of CO2 as a raw material was made possible in the first place by a scientific breakthrough achieved by Covestro and its partners several years ago. It is thanks to this advancement that CO2 can now be used ecologically and economically in these applications.

About Covestro:
With 2016 sales of EUR 11.9 billion, Covestro is among the world’s largest polymer companies. Business activities are focused on the manufacture of high-tech polymer materials and the development of innovative solutions for products used in many areas of daily life. The main segments served are the automotive, construction, wood processing and furniture, and electrical and electronics industries. Other sectors include sports and leisure, cosmetics, health and the chemical industry itself. Covestro has 30 production sites worldwide and employs approximately 15,600 people (calculated as full-time equivalents) at the end of 2016.

Please find a french version here.

Find more information at www.covestro.com.
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Forward-looking statements
This news release may contain forward-looking statements based on current assumptions and forecasts made by Covestro AG. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. These factors include those discussed in Covestro’s public reports which are available at www.covestro.com. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.