BASF, the world’s largest chemicals group by sales, will cut half of the 700 jobs at its plant biotechnology business, slashing some early development projects in yield improvement and stress tolerance and all of its rice yield and corn fungal resistance projects.
BASF’s plant biotechnology unit is developing improved plant characteristics such as drought tolerability but relies on partners, the biggest being Monsanto, to bring finished seed products to market.
Alliances with such partners are not affected by the cutbacks, a spokeswoman said.
BASF, also the world’s third largest maker of farming pesticides, spends about 150 million euros ($165 million) per year on plant biotechnology research but has not disclosed sales or earnings figures for these activities.
A spokeswoman declined to comment on any cuts to annual budgets at the unit.
($1 = 0.9076 euros) (Reporting by Ludwig Burger; Editing by Maria Sheahan)
France has launched an offshore green hydrogen production platform at the country’s Port of Saint-Nazaire this week, along with its first offshore wind farm. The hydrogen plant, which its operators say is the world’s first facility of its type, coincides with the launch of another “first of its kind” facility in Sweden dedicated to storing hydrogen in an underground lined rock cavern (LRC).
The project sets up the Hydrogen Valley in Rome, the first industrial-scale technological hub for the development of the national supply chain for the production, transport, storage and use of hydrogen for the decarbonization of industrial processes and for sustainable mobility.
At first glance, hydrogen seems to be the perfect solution to our energy needs. It doesn’t produce any carbon dioxide when used. It can store energy for long periods of time. It doesn’t leave behind hazardous waste materials, like nuclear does. And it doesn’t require large swathes of land to be flooded, like hydroelectricity. Seems too good to be true. So…what’s the catch?