Borealis and Borouge announce the launch of Quentys™, the new umbrella brand created to empower and potentially revolutionise the solar energy industry by making applications more affordable, reliable, and durable.
Borealis and Borouge, leading providers of innovative, value-creating plastics solutions, announce the launch of Quentys™, the new umbrella brand created to empower and potentially revolutionise the solar energy industry by making applications more affordable, reliable, and durable. Borealis and Borouge are leveraging their decades of experience in the energy sector, and forming new strategic partnerships along the entire solar value chain, in order to deliver step-change innovations to the market.
As leading providers of polyolefin compounds for the global wire and cable industry for over 50 years, Borealis and Borouge are now widening the scope of their energy industry endeavours to include solar. By 2025 solar is expected to have the highest global annual capacity added of all energy sources, reaching over 100 Gigawatt (GW) capacity added per year. As reliable and trusted suppliers with a truly global reach, Borealis and Borouge are prepared to meet this rising demand by working with partners and customers around the world to exploit the full potential of solar.
Borealis and Borouge have an unparalleled track record in Value Creation through Innovation, especially in the energy industry. This innovative force is now being unleashed in the field of solar, where new material solutions based on unique and proprietary technologies have been developed for applications such as backsheets and encapsulant films. These step-change innovations in the Quentys family improve the operational reliability of photovoltaic (PV) modules, reduce processing complexity, and extend the lifetime of PV panels. The first wave of new products developed in partnership with a leading solar industry partner will be launched shortly.
Borealis and Borouge are applying their material expertise to make solar power even more affordable and efficient. For example, single-step production technologies reduce manufacturing complexity and thus costs. Innovative materials increase both output and lifespan of PV modules. These are key to maintaining the market momentum currently enjoyed by renewables, as documented by the International Energy Agency (IEA). In 2015, the IEA predicted that by 2050, solar will provide 16% of the world's electric power, significantly more than the 11% it had forecast in 2010. Moreover, the levellised cost – meaning the all-in cost of installing and operating a renewable energy system over its entire lifetime – of electricity for renewables is falling.
"As a global innovation leader, our mission is to Keep Discovering new ways of applying our experience and know-how to future growth sectors," says Alfred Stern, Borealis Executive Vice President, Polyolefins and Innovation & Technology. "Our new Quentys brand will be the foundation for a range of exciting new products and applications that will make solar more affordable and more widely available."
"The launch of Quentys reflects our companies' strong commitment towards sustainability and to create value for our customers with proprietary innovations developed by our creative people," said Wim Roels, Chief Executive Officer Borouge Pte Ltd. "This new solar brand is an enabler for us to contribute to the development of the solar energy sector by providing innovative, credible and profitable solutions for the solar industry."
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For further information please contact:
Virginia Mesicek
External Communications Manager
tel.: +43 1 22 400 772 (Vienna, Austria)
e-mail: virginia.mesicek@borealisgroup.com
Borealis is a leading provider of innovative solutions in the fields of polyolefins, base chemicals and fertilizers. With its head office in Vienna, Austria, the company currently has around 6,600 employees and operates in over 120 countries. Borealis generated EUR 7.2 billion in sales revenue and a net profit of EUR 1,107 million in 2016. The International Petroleum Investment Company (IPIC) of Abu Dhabi owns 64% of the company, with the remaining 36% belonging to Austria-based OMV, an integrated, international oil and gas company. Borealis provides services and products to customers around the world in collaboration with Borouge, a joint venture with the Abu Dhabi National Oil Company (ADNOC).
Building on its proprietary Borstar® and Borlink™ technologies and more than 50 years of experience in polyolefins, Borealis and Borouge support key industries with a wide range of applications in the areas of energy, automotive, pipes, consumer products, healthcare, and advanced packaging.
The Borouge 3 plant expansion made Borouge the world's largest integrated polyolefins complex. Now fully ramped up, the additional 2.5 million tonnes of polyolefins capacity yield a total Borouge capacity of 4.5 million tonnes, and a combined Borealis and Borouge capacity of 8 million tonnes.
Borealis offers a wide range of base chemicals, including melamine, phenol, acetone, ethylene, propylene, butadiene and pygas, servicing a wide range of industries. Borealis also creates real value for the agricultural industry, selling approximately 5 million tonnes of fertilizers. Technical nitrogen and melamine products complement the portfolio with applications ranging from mono-nitrogen oxide (NOx) abatement to glues and laminates in the wood working industry.
Borealis and Borouge aim to proactively benefit society by taking on real societal challenges and offering real solutions. Both companies are committed to the principles of Responsible Care®, an initiative to improve safety performance within the chemical industry, and work to solve the world's water and sanitation challenges through product innovation and their Water for the World™ programme.
For more information visit:
www.borealisgroup.com
www.borouge.com
www.waterfortheworld.net
Borstar is a registered trademark of the Borealis Group.
Quentys and Water for the World are trademarks of the Borealis Group.
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