● One-stop solution covering professional engineering services, carbon capture, project financing, carbon sequestration and utilization

● Contribute to sustainable development and save costs by capturing CO2 from flue gas through BASF’s OASE® blue process technology

September 28, 2022 – BASF and Korea GS Construction Co., Ltd. (GS
E&C) signed a Memorandum of Understanding (MoU) on a strategic cooperation in joint development of modular carbon capture facility solutions. Both parties hope to develop individualized turnkey solutions for customers in various industries through standardized elements to remove carbon dioxide from exhaust gases and reuse or store them.

This modular carbon capture solution combines BASF’s advanced OASE® blue carbon capture process technology with GS
E&C’s professional engineering capabilities enable rapid delivery to customers and optimize capital expenditures (CAPEX) and operating expenses (OPEX). This will effectively shorten the implementation steps of carbon capture, utilization and storage (CCUS) projects from concept to actual operation.

BASF’s OASE blue carbon capture technology captures carbon dioxide from flue gas, contributing to sustainable development and saving costs; while GS
E&C will provide one-stop solutions covering professional engineering services, carbon capture, project financing, storage and utilization to help carbon dioxide emissions become carbon neutral.

Sun Yiling, Vice President of Amine, Acetylene and Carbonyl Derivatives Business Management at BASF’s Asia Pacific Intermediates Business Unit, said: “Mature CCUS technology is one of the main options for accelerating global CO2 reduction. BASF and GS
E&C teaming up to demonstrate their commitment to reducing carbon emissions. ”

Yoon Hong, President, New Business Division, GS E&C
Huh said: “We want to build and continue to strengthen our partnership in green energy. This combination of strengths will allow us to become a global leader in carbon capture solutions. This partnership agreement marks a step towards achieving our climate goals. a crucial step.”

“The essence of OASE technology is that it can be highly customized to meet the needs of various applications. In this project, we are pleased to cooperate with forward-looking partners, committed to providing Several viable areas to serve in the CCUS market.”

John Kwangho, Head of Modularity, GS E&C
Jung concluded: “One of the biggest challenges facing the renewable energy industry is reducing uncertainties related to safety, quality, cost and schedule that can significantly impact the economic options for projects. GS
E&C has extensive modular experience and can provide effective solutions to reduce these risks. ”

The OASE family of technologies is one of BASF’s transcendent products that make a significant contribution to the sustainable development of the value chain.