BASF expands global PGM refining capacity, further driving circular economy business

SENECA, SOUTH CAROLINA, May 12, 2021 - BASF announced today the expansion of its Seneca, South Carolina, Platinum Group Metals (PGM) refining facility. The company will invest double-digit millions in capital improvements to increase refining capacity to recycle precious metals from spent catalysts such as automotive catalytic converters. Recycled metal has as much as 90% lower CO₂ emissions than metal from primary mines. By recovering the precious metals for reuse in fresh catalysts, BASF closes the loop with circular economy solutions.

'This investment further strengthens our global leadership position in the spent automotive catalyst recycling market,' said Tim Ingle, Vice President, BASF Precious Metals Refining, Chemicals & Battery Recycling. 'We are proud to enable the circular economy and to support our customers', and our own, sustainability goals.'

BASF's Seneca site produces precious metal catalysts and chemicals that are used by BASF customers to produce a wide variety of products, including herbicides, plastics, pharmaceuticals, automotive emission catalysts, fragrances and fertilizers.

About BASF's Catalysts division

BASF's Catalysts division is the world's leading supplier of environmental and process catalysts. The group offers exceptional expertise in the development of technologies that protect the air we breathe, produce the fuels that power our world and ensure efficient production of a wide variety of chemicals, plastics and other products, including advanced battery materials. By leveraging our industry-leading R&D platforms, passion for innovation and deep knowledge of precious and base metals, BASF's Catalysts division develops unique, proprietary solutions that drive customer success. Further information on BASF's Catalysts division is available on the Internet at www.catalysts.basf.com.

About BASF

BASF Corporation, headquartered in Florham Park, New Jersey, is the North American affiliate of BASF SE, Ludwigshafen, Germany. BASF has approximately 17,000 employees in North America and had sales of $18.7 billion in 2020. For more information about BASF's North American operations, visit www.basf.com/us.

At BASF, we create chemistry for a sustainable future. We combine economic success with environmental protection and social responsibility. More than 110,000 employees in the BASF Group contribute to the success of our customers in nearly all sectors and almost every country in the world. Our portfolio is organized into six segments: Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care and Agricultural Solutions. BASF generated sales of €59 billion in 2020. BASF shares are traded on the stock exchange in Frankfurt (BAS) and as American Depositary Receipts (BASFY) in the U.S. Further information at http://www.basf.com.