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Borealis and Borouge, leading providers of innovative, value-creating plastics solutions, announce the launch of Quentys™, the new umbrella brand created to empower and potentially revolutionise the solar energy industry by making applications more affordable, reliable, and durable. Borealis and Borouge are leveraging their decades of experience in the energy sector, and forming new strategic partnerships along the entire solar value chain, in order to deliver step-change innovations to the market.
By 2025 solar is expected to have the highest global annual capacity added of all energy sources, reaching over 100 Gigawatt (GW) capacity added per year. As reliable and trusted suppliers with a truly global reach, Borealis and Borouge are prepared to meet this rising demand by working with partners and customers around the world to exploit the full potential of solar.
Borealis and Borouge have an unparalleled track record in Value Creation through Innovation, especially in the energy industry. This innovative force is now being unleashed in the field of solar, where new material solutions based on unique and proprietary technologies have been developed for applications such as backsheets and encapsulant films. These step-change innovations in the Quentys family improve the operational reliability of photovoltaic (PV) modules, reduce processing complexity, and extend the lifetime of PV panels.
The first new product developed in partnership with ISOVOLTAIC was just launched.
Borealis and Borouge are applying their material expertise to make solar power even more affordable and efficient. For example, single-step production technologies reduce manufacturing complexity and thus costs. Innovative materials increase both output and lifespan of PV modules. These are key to maintaining the market momentum currently enjoyed by renewables.
For further information please read our media release.
"The most impressive achievement of 2016 is clearly our outstanding financial performance. For the first time in the history of the company, we've been able to cross the threshold of EUR 1 billion net profit. Back in 1994, I'm sure that many people who started the journey with Borealis would never have dreamt that one day, we would have a net profit in the 10-figure range. This shows just how far the company has come. Over the last ten years, profit has gone up four to five times. Product volume has quadrupled. Sales – if you incorporate our share of Borouge sales – have gone up two and a half times. This means that profit intensity has also increased dramatically. So to end 2016 with such a result has been a remarkable journey."
Mark Garrett, Borealis Chief Executive