Chemical giant BASF on December 10 announced that it had launched a new circular economy program, under which the company aims at doubling sales from circular solutions to €17 billion ($20.6 billion) by 2030. The new plan focuses on three areas: new business models, circular feedstocks, and new material cycles. BASF plans to replace 250,000 tons/year of fossil-based feedstocks with recycled or waste-based materials.
BASF is working on a novel chemical process to recycle high-purity lithium from batteries. The new process will be highly efficient and have less carbon footprint than the existing approach. The company is developing additives that can improve mechanically recycled plastics. It is also working on the development to improve the process to convert mixed plastic waste into pyrolysis oil.
In addition, BASF is also working on its Rambutan program, whereby the company aims at extracting high-quality cosmetic active ingredients from the plant. According to BASF, rambutan peel, seeds, and leaves contain chemicals that have positive effects on hair and skin.
