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Syensqo

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Syensqo SA
Company typePublic
Euronext Brussels: SYENS
BEL 20 component
ISINBE0974464977[1]
IndustryChemicals
FoundedDecember 2023; 11 months ago (2023-12)
FounderAlfred and Ernest Solvay
HeadquartersBrussels, Belgium
Area served
Worldwide
Key people
Ilham Kadri (CEO)
Rosemary Thorne (Chair)[2]
ProductsAdvanced materials and composites
Revenue€6,8 billion (2024)
€3,792 million (2024)
Number of employees
13,000 (2023)[3]
Websitewww.syensqo.com

Syensqo (pronounced “Science Co.”) is a Belgian multinational materials company, headquartered in Brussels, Belgium. It was established in December 2023, through the spin-off from Solvay.[4][5][6] The current CEO is Ilham Kadri, who previously was the CEO of Solvay.

Syensqo has been publicly listed since December 11, 2023 and joined the BEL20 soon after.[7]
The company is present globally with 62 industrial sites and 12 major R&D centers, and it employs 13,000 people in 30 countries.[3]

History

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In 2022, Solvay announced the intention to separate into two independent stock listed companies: Solvay and Syensqo.[8]

Solvay would retain its historic soda ash, Peroxides, Silica, and Coatis production, as well as the Specialty Chemicals division. The Materials, Composites, and Solutions divisions were split off into Syensqo.[9] The goal of separating the two companies was to give independence and flexibility in pursuing different strategies.[10]

The name Syensqo is explained as follows: SY represents the first and last letters in Solvay. EN is a nod to Solvay’s founder, Ernest Solvay. SYENS refers to Solvay’s scientific heritage, which goes back to 1911, when Ernest Solvay brought 24 scientists together for the first Solvay Conference. Q refers to quantum physics, which was discussed at the conference. QO is for company.[11]

On Friday, December 8, 2023,[12] shareholders approved the plan to split Solvay into two separate entities.[13][14] As a result, Ilham Kadri, former CEO of Solvay, is the CEO of Syensqo, whereas Philippe Kehren becomes CEO of Solvay.[15]

The split became effective on December 11th, 2023, with shares listed on Euronext Brussels and Euronext Paris.[16][17][18] On September 16, 2024 Syensqo announced its intention to delist from Euronext Paris.[19][20]

Corporate affairs

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The company's headquarters is located in Brussels, Belgium.[21][22]

Syensqo researches and produces advanced materials for use in both industrial and consumer applications. Its businesses include specialty polymers, composites, surfactants, aroma, technology solutions and oil & gas, as well as growth platforms in batteries, green hydrogen, thermoplastic composites, renewable materials, and biotechnology.[23]

In addition to its diverse businesses, Syensqo is actively engaged in partnerships and research projects.

In January 2024, Syensqo became a sponsor of DS Penske, sealing a three-year partnership with the Formula E racing team.[24][25]

From May 2024, Syensqo as main partner, together with Mohammed VI Polytechnic University and OCP Group,[26][27] is involved in the Climate Impulse project, which aims to set a historic precedent by flying a green hydrogen aircraft around the world by 2028.[28] The aircraft will attempt to fly nine days non-stop all around the Equator with pilots Bertrand Piccard, who was also involved in the Solar Impulse project, and Raphaël Dinelli.[29][30][31]

In June 2024, Syensqo announced the nomination of a new Scientific Advisory Board for its innovation projects, which sees the participation of four important academics in the field of chemistry: Ben Feringa (Nobel Prize in Chemistry in 2016), Avelino Corma, Karim Zaghib, and Juan de Pablo.[32]

Syensqo also recognizes scientific advancements and major discoveries through the Science for the Future Ernest Solvay Prize by Syensqo, previously known as the Solvay Prize. With the support of the Syensqo Fund, the prize is awarded to individuals who have made significant contributions in the field of chemistry. The most recent recipient of the prize is Omar Yaghi, Professor of Chemistry at UC Berkeley, for his work in reticular chemistry.[33][34]
Previous prize laureates include scientists such as Peter G. Schultz (2013), Ben Feringa (2015), Susumu Kitagawa (2017), Carolyn Bertozzi (2020), and Katalin Karikó (2022), some of whom have also received Nobel Prizes.[35][36][37][38][39]

See also

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References

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  1. ^ "Syensqo - Identification". 2024 Euronext. Retrieved 2024-09-26.
  2. ^ "Solvay announces the future board of directors for new standalone company SYENSQO". Nasdaq.com. Retrieved 2024-09-26.
  3. ^ a b "Syensqo - About us". Syensqo. Retrieved 2024-09-26.
  4. ^ "Solvay announces leadership teams ahead of planned split". Reuters.com. Retrieved 2024-09-26.
  5. ^ "Syensqo completes spin-off". Speciality Chemicals Magazine. Retrieved 2024-09-26.
  6. ^ "Syensqo spins off from Solvay, builds EV material factory in Georgia". Chargedevs.com. 29 December 2023. Retrieved 2024-09-26.
  7. ^ "Syensqo to join the BEL 20 on December 18". MarketScreener.com. 12 December 2023. Retrieved 2024-09-26.
  8. ^ "Solvay opens up on plans to divide into two companies". Sustainableplastics.com. Retrieved 2024-09-26.
  9. ^ "Press Release: Solvay to unlock value by exploring a separation into two independent publicly listed companies" (PDF). Syensqo.com. Retrieved 27 March 2024.
  10. ^ "SOLVAY and SYENSQO revealed as new company names". Yahoo Finance. 16 June 2023. Retrieved 2024-09-26.
  11. ^ "Solvay's AM materials and activities are now part of Syensqo". Voxelmatters.com. 19 February 2024. Retrieved 2024-09-26.
  12. ^ "Solvay Board sets December 8, 2023 for shareholders to vote on the separation into two independent listed companies". Investegate.co.uk. Retrieved 2024-09-25.
  13. ^ "Shareholders overwhelmingly support the creation of two independent companies - Solvay and Syensqo". Financial Times. Retrieved 2024-09-25.
  14. ^ "Solvay shareholders to vote on splitting company". Reuters.com. Retrieved 2024-09-23.
  15. ^ "Solvay and Syensqo are effectively two separate companies". Macplas.it. 13 December 2023. Retrieved 2024-09-25.
  16. ^ "Syensqo successfully launched on Euronext". Yahoo News. 11 December 2023. Retrieved 27 March 2024.
  17. ^ "Syensqo completes spin-off from Solvay, inks deal with EMF". Sustainableplastics.com. Retrieved 2024-09-25.
  18. ^ "Syensqo spinoff starts trading at almost €10 billion value". Bloomberg. 11 December 2023. Retrieved 2024-09-25.
  19. ^ "Syensqo announces voluntary delisting from Euronext Paris". Globenewswire.com (Press release). 16 September 2024. Retrieved 2024-09-25.
  20. ^ "Syensqo: delisting from the Paris Bourse at the end of the month". Marketscreener.com. 16 September 2024. Retrieved 2024-09-25.
  21. ^ "Z-Bruxelles : Syensqo a délibérément choisi d'avoir son siège à Bruxelles 26/06/24". Trends-Tendances (in French). 26 June 2024. Retrieved 2024-09-26.
  22. ^ "Syensqo". World Economic Forum. Retrieved 2024-09-25.
  23. ^ "Solvay spin-off business separation to come into effect". Icis.com. Retrieved 2024-09-26.
  24. ^ "Formula E : DS Automobiles announces partnership with Syensqo". Stellantis. Retrieved 2024-09-26.
  25. ^ "Syensqo has already joined the Formula E circus". Jeccomposites.com. Retrieved 2024-09-26.
  26. ^ "UM6P and OCP Group support Climate Impulse as main partners alongside Syensqo". UM6P. Retrieved 2024-09-26.
  27. ^ "'Climate Impulse': Morocco's Ambitious Hydrogen-Powered Plane Project". Morocco World News. Retrieved 2024-09-26.
  28. ^ "Flagship Climate Impulse project targets non-stop, green hydrogen-powered flight". Compositesworld.com. Retrieved 2024-09-26.
  29. ^ "Bertrand Piccard unveils Climate Impulse". Solarimpulse.com. Retrieved 2024-09-26.
  30. ^ "A non-stop flight around the world, emission-free". Syensqo.com. Retrieved 2024-09-26.
  31. ^ "World's first hydrogen-powered flight to showcase future of aviation". Financial Times. Retrieved 2024-09-26.
  32. ^ "Syensqo announces new scientific advisory board to support its growth innovation strategy". Jeccomposites.com. Retrieved 2024-03-22.
  33. ^ "Chemistry behind metal-organic frameworks nets Ernest Solvay Prize". Nature. Retrieved 2024-10-02.
  34. ^ "Omar Yaghi wins Solvay Prize for climate, materials breakthroughs". UC Berkeley. Retrieved 2024-10-02.
  35. ^ "Peter Schultz To Receive Solvay Prize". Chemical & Engineering News (C&EN). Retrieved 2024-10-09.
  36. ^ "Ben Feringa receives Chemistry for the Future Solvay Prize". University of Groningen. Retrieved 2024-10-09.
  37. ^ "Susumu Kitagawa wins Solvay Prize". Kyoto University iCeMS. Retrieved 2024-10-09.
  38. ^ "Carolyn Bertozzi awarded Chemistry for the Future Solvay Prize". Stanford University. Retrieved 2024-10-09.
  39. ^ "Chemistry prize recognizes mRNA pioneer". Nature. Retrieved 2024-10-09.
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