BASF Installs Pahotovoltaic System for a Sustainable Future

BASF SE's BASFY Coatings division, through its Surface Treatment business unit operating under the Chemetall brand, has installed an advanced photovoltaic system at its Boksburg site in South Africa. This marks a major milestone in the company's pursuit of greater sustainability. Chemetall remains dedicated to a more sustainable future, and the implementation of the new photovoltaic system in Boksburg represents a key part of its ongoing efforts to incorporate renewable and sustainable energy sources into its operations.Chemetall's new cutting-edge photovoltaic system features 1,725 square meters of solar panels installed on the site's roofs, as well as 600 kW battery storage systems. Chemetall forecasts a 92% decrease in its current energy expenses and a matching 92% reduction in CO2 emissions at the Boksburg facility after completing this project and using renewable energy. Chemetall's project contributes to BASF's objective of reaching net-zero emissions by 2050.The installation of the solar system in Boksburg demonstrates Chemetall's commitment to promoting a more sustainable future through the use of renewable energy sources in its operations. The company's constant improvement of its carbon footprint also helps its customers meet their sustainability goals by sourcing products from Chemetall.Shares of BASFY have gained 7.5% over the past year against an 11.8% decline of its industry.Image Source: Zacks Investment ResearchBASFY’s Rank & Key PicksBASFY currently carries a Zacks Rank #3 (Hold).Better-ranked stocks in the basic materials space include Carpenter Technology Corporation CRS, Methanex Corporation MEOH and Axalta Coating Systems Ltd. AXTACarpenter Technology currently carries a Zacks Rank #2 (Buy). CRS beat the Zacks Consensus Estimate in each of the last four quarters, with the average earnings surprise being 15.7%. The company's shares have soared 218.2% in the past year. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.Methanex, which currently carries a Zacks Rank #2, beat the consensus estimate in each of the trailing four quarters. In this time frame, it has delivered an earnings surprise of roughly 85.2%, on average. MEOH’s shares have gained 1.5% over the past year. Axalta Coating Systems, which currently carries a Zacks Rank #1, beat the consensus estimate in each of the trailing four quarters. In this time frame, it has delivered an earnings surprise of roughly 16.3%, on average. AXTA’s shares have rallied 10.7% over the past year.  Only $1 to See All Zacks' Buys and SellsWe're not kidding.Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators,and more, that closed 256 positions with double- and triple-digit gains in 2024 alone.See Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report BASF SE (BASFY): Free Stock Analysis Report Carpenter Technology Corporation (CRS): Free Stock Analysis Report Methanex Corporation (MEOH): Free Stock Analysis Report Axalta Coating Systems Ltd. (AXTA): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks