This is exciting! BASF $BAS (-0,74%) is currently testing the use of geothermal energy at its Ludwigshafen site in order to significantly reduce its gas consumption and CO2 emissions. In collaboration with the startup Vulcan Energy $VUL (+4,25%) not only generates thermal energy, but also lithium - a crucial raw material for battery production. 👍
The project aims to generate sustainable energy by using hot thermal water from the Upper Rhine Graben. In this way, BASF could not only reduce its ecological footprint, but also contribute to the transformation of the chemical and automotive industries.
In the first phase, vibration trucks are already on the road carrying out seismic measurements to analyze the geological structures of the Upper Rhine Graben. Drilling is due to start in 2027 and the first tests are already underway. BASF is thus demonstrating how innovative technologies can contribute to reducing emissions and at the same time open up new business areas. This could be a real game changer for the industry! 📈
