BASF (BASFY) Switches Portfolio to Bio-based Ethyl Acrylate

BASF SE BASFY recently stated that it will switch its production to bio-based ethyl acrylate (EA) starting fourth-quarter 2024. With a C-traceable bio content of 40%, according to DIN EN 16640 and a reduced product carbon footprint (PCF), BASF's bio-based EA assists companies globally in achieving their sustainability goals. The product reduces PCF by approximately 30% compared to fossil-based EA. In addition to standard bio-based EA, BASF offers bio-based Ethyl Acrylate BMB ISCC Plus. The residual carbon content derived from fossil-based acrylic acid is ISCC PLUS certified. By utilizing BASF's biomass balance (BMB) approach, this variation delivers a further reduced product carbon footprint.BASF produces bio-based EA at Ludwigshafen with bioethanol as the exclusive alcohol source. The chemical and technical parameters of the new bio-based product are identical to the traditional fossil-based counterpart. Bio-based EA allows the company to provide a convenient drop-in solution for a variety of applications. EA is a well-established solution that helps consumers achieve their environmental goals. The company clearly communicates to the market that it is driving its own sustainability change. Beginning in fourth-quarter 2024, the company will exclusively offer bio-based Ethyl Acrylate, phasing out fossil-based EA.BASF's bio-based EA is made from sustainable bioethanol sourced primarily from Europe, using grain as the feedstock. BASF prioritizes sustainability when using biomass materials. BASF purchased bioethanol that does not compete with food production. Bioethanol is mostly made from starch residues, low-quality grains, or molasses that are not used in food production. Non-food grains can be utilized to produce bioethanol. Bio-based EA is suitable for a wide range of polymer dispersion applications, mainly in the coatings and adhesive sectors. Shares of BASFY have lost 10.7% over the past year compared with a 9.9% decline of its industry.Image Source: Zacks Investment ResearchZacks Rank & Key PicksBASFY currently carries a Zacks Rank #3 (Hold).Better-ranked stocks in the basic materials space include Carpenter Technology Corporation CRS, Eldorado Gold Corporation EGO and Agnico Eagle Mines Limited AEM. Carpenter Technology currently carries a Zacks Rank #1 (Strong Buy). CRS beat the Zacks Consensus Estimate in each of the last four quarters, with the average earnings surprise being 15.9%. The company's shares have soared 136.9% in the past year. You can see the complete list of today's Zacks #1 Rank stocks here.The Zacks Consensus Estimate for Eldorado’s current-year earnings is pegged at $1.32 per share, indicating a year-over-year rise of 131.6%. EGO, a Zacks Rank #1 stock, beat the consensus estimate in each of the last four quarters, with the average earnings surprise being 430.3%. The company's shares have rallied roughly 87.6% in the past year.Agnico Eagle Mines currently carries a Zacks Rank #2 (Buy). AEM beat the Zacks Consensus Estimate in each of the last four quarters, with the average earnings surprise being 15.7%. The company's shares have soared 59.5% in the past year. Free Report – 3 Stocks Sneaking Into Hydrogen EnergyDemand for clean hydrogen energy is projected to reach $500 billion by 2030 and grow 5-FOLD by 2050. No guarantees, but three companies are quietly getting the jump on their competition.Zacks Investment Research is temporarily offering an urgent Special Report naming and explaining these emerging powerhouses primed to boom. Click below for Hydrogen Energy: 3 Industrial Giants to Ride the Next Renewable Energy Wave.See Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report BASF SE (BASFY): Free Stock Analysis Report Carpenter Technology Corporation (CRS): Free Stock Analysis Report Agnico Eagle Mines Limited (AEM): Free Stock Analysis Report Eldorado Gold Corporation (EGO): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks