An experienced chemicals industry executive has been appointed president and CEO of Westlake, and Albert Chao and James Chao will remain as executive chairman and senior chairman of the board, respectively.
The heat battery offers a sustainable alternative to steam generation with fossil fuels, storing intermittent renewable electricity and delivering continuous high-temperature steam.
The acquisition will add capacity of 50,000 metric tons of recycled materials annually to advance progress towards Dow's 2030 Transform the Waste goal.
The company reports renewable energy increased by 5%, with 18% of the electricity consumed by Trinseo coming from biomass, wind, solar, and hydroelectric sources.