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BASF SE BASFY recently announced the commissioning of Germany’s largest proton exchange membrane electrolyzer operation at BASF’s Ludwigshafen site. The electrolyzer has been designed to supply the main plant with zero-carbon hydrogen feedstock at a rate of 1 metric ton per hour.
This plant was under construction for around two years. In cooperation with Siemens Energy, the electrolyzer is embedded in the production and infrastructure at the Ludwigshafen site. The system has been installed with a total of 72 stacks, in which the actual electrolysis process takes place, to enhance its interface and integration into a chemical production environment.
The project, Hy4Chem, was funded by the German Federal Ministry for Economic Affairs and Climate Action in collaboration with the state of Rhineland-Palatinate for the construction of the plant. BASF invested around €25 million in the project. The emission-free production of hydrogen is a milestone for the ramp-up of the hydrogen economy and strengthens Ludwigshafen as a business location. This has garnered support from federal and state governments as it supports Rhineland-Palatinate’s climate protection targets.
The BASFY stock has lost 4.8% in the past year compared with the 14.7% decline in the industry.
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BASFY’s Zacks Rank and Key Picks
BASFY currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the Basic Materials space are Ingevity Corporation NGVT, Axalta Coating Systems AXTA and Carpenter Technology Corporation CRS. While NGVT and AXTA sports a Zacks Rank #1 (Strong Buy) each at present, CRS carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Ingevity’s current-year earnings is pegged at $4.45 per share. NGVT beat the Zacks Consensus Estimate in three of the trailing four quarters and missed once, with the average earnings surprise being 202.9%.
The Zacks Consensus Estimate for Axalta’s current-year earnings is pegged at $2.51 per share. AXTA surpassed the Zacks Consensus Estimate in each of the trailing four quarters, with an average earnings surprise of 16.28%.
The Zacks Consensus Estimate for Carpenter Technology’s current fiscal-year earnings is pegged at $6.95 per share. CRS beat the Zacks Consensus Estimate in each of the trailing four quarters, with the average earnings surprise being 15.7%. Its shares have soared 169.6% in the past year.
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