Covestro Steps Up Investment in Sustainable Growth

Covestro Increases Investment in Sustainable Growth Covestro is laying the foundation for its future through sustainable growth. As part of its new "Sustainable Future" strategy, the group continues to focus on the circular economy and structurally increasing demand for sustainable solutions. Political initiatives aimed at reducing greenhouse gases in China, Europe and the United States are particularly driving demand in energy-efficient construction and electromobility. In this context, Covestro expects global demand growth for rigid foam precursor MDI and flexible foam precursor TDI to reach 6% annually by 2025. Demand for MDI in particular is meeting already high capacity utilization across the industry. At this year's Investor Conference, Covestro announced that it will resume investment in a global MDI facility whose construction was temporarily suspended at the beginning of 2020. Covestro plans to use the energy-efficient AdiP technology currently employed at its Brunsbuettel facility in Germany. This technology can reduce steam by up to 40% per ton of product and electricity by up to 25% at an MDI facility, as well as reduce CO₂ emissions by up to 35%. The company is investigating locations in the United States or China for the new global MDI facility. A final decision is expected after the current project phase. The facility is scheduled to commence operations in 2026. Covestro Chief Executive Officer Dr. Markus Steilemann stated, "There is increasing global demand for sustainable solutions, and this offers us significant additional market potential. Our high-tech plastics already enable sustainable innovations in many industries." Steilemann continued: "On our path to becoming fully circular, we are selectively increasing our capital expenditures and enabling our customers to become more sustainable with customized solutions." Source