CANADA – BASF, an ingredients and chemicals company, has announced a collaboration with Exterra Carbon Solutions, a Canadian company specializing in carbon storage, to develop a commercial-scale carbon capture and storage initiative in Quebec. 

This project combines BASF’s OASE blue gas treatment technology with Exterra’s ROC (Reactive Oxide to Carbonate) engineered mineralization technology to address CO2 emissions and support environmental improvements in high-emission industries like cement, steel, gas-to-power, and waste-to-energy.

In addition to this partnership announcement, BASF reported an increase in its third-quarter earnings before interest, taxes, depreciation, and amortization (EBITDA) before special items by US$100.1 million to US$2.08 billion. 

Overall sales for the quarter held steady at US$20.41 billion, on par with the same period last year.

Increases in volume across nearly all sectors positively impacted BASF’s sales performance, with both core business areas and Agricultural Solutions reporting growth. 

However, the Surface Technologies division saw a decline in its Catalysts segment, which BASF attributed to reduced demand in the automotive market.

The EBITDA margin before special items rose to 10.3%, up from 9.8% in the same period last year. 

Specifically, the core businesses experienced a significant boost in the EBITDA margin before special items, reaching 13.4% compared to last year’s 9.8%.

Despite these gains, BASF’s total EBITDA declined slightly to $1.69 billion from $1.82 billion in the third quarter of the previous year. 

Operating profit (EBIT) also dropped to US$325 million, reflecting a decrease of US$187.2 million compared to the same quarter last year. 

Depreciation and amortization expenses rose to US$1.3 billion, up from US$1.26 billion in the prior-year period.

Net income saw a notable improvement, rising to US$373 million from a net loss of US$323.7 million recorded in the same period last year. 

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