MUNICH—For chemical companies, the path to sustainability is traveled in steps, with one innovation typically leading to another.
Such is the case with Wacker Chemie A.G., a German multinational that has its sights set on the Rhyme Bavaria project, a 20-megawatt plant at Wacker's Burghausen site that would ultimately produce renewable hydrogen and methanol, the latter of which is a key raw material in silicone production.
The goal is net-zero CO2 production for the company by 2045.
To get there, and to get the project off the ground, the company is seeking funding in the "double-digit" millions of dollars range from the European Union, specifically from the European Commission's EU Innovation Fund.
"Our Rhyme Bavaria goal is to narrow our carbon footprint even further," said Wacker CEO Christian Hartel. "By producing green hydrogen and using it as a material, we are making an essential contribution toward markedly reducing fossil resources in chemical processes and products."
After failing to qualify for money from the EU fund in 2020, Wacker reapplied March 7 for funding for the Burghausen site. Overall, Wacker expects the investment to be about $110.2 million for the expansion.