BASFY Inks MoU to Develop Sustainable Footwear Solutions

Core Insights - BASF SE has partnered with San Fang Chemical Industrial Co. and Nichetech Advanced Materials Co. to develop sustainable, circular solutions for the global footwear industry, aiming for net-zero carbon emissions by 2050 [1][8] Group 1: Collaboration Details - The first milestone of the collaboration is the launch of Global Recycled Standard (GRS)-certified TPU films, which have verified recycled content while maintaining durability, flexibility, and quality [2] - The partners plan to expand their portfolio with more GRS-certified TPU products that comply with international recycling standards, promoting innovative solutions globally [2] Group 2: Expertise and Goals - BASF brings extensive knowledge in sustainable solutions, San Fang contributes expertise in recycled polyester polyols and key raw materials, while Nichetech specializes in manufacturing capabilities and market knowledge [3] - The alliance aims to accelerate circular solutions, reduce carbon emissions, and enable brands to incorporate recycled materials on a large scale through joint innovation and strict quality control [4] Group 3: Market Performance - BASF's shares have increased by 17.8% over the past year, contrasting with a 16.7% decline in the industry [6]