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Braskem spins off energy operations

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Braskem, the largest producer of thermoplastic resins in the Americas, has spun off its energy purchasing and management operations into an independent company called Voqen. The new trader will serve both the petrochemical company and other customers, particularly in the petrochemical chain, with a focus on delivering renewable energy and energy transition solutions.Voqen, which is fully controlled by Braskem for now, was born with a relevant portfolio of more than R$3 billion per year in electric energy and natural gas contracts under management and will operate in a market disputed by large companies in the electric sector and independent companies, such as Comerc and Delta Energia.These first contracts managed by Voqen - the name refers to the energy inclination of Braskem, a power-intensive company and one of the largest consumers in the free market - cover about 750 average megawatts and 2.5 million cubic meters per day consumed by the petrochemical company’s operations in Brazil.Gustavo Checcucci, Braskem’s chief energy officer, said that the new company intends to go beyond energy commercialization. "We have always been naturally sought out by our clients to help them with solutions in power management. Now, we will be more active in this process," he told Valor.Voqen’s potential customer portfolio, which in theory corresponds to the petrochemical company’s own customer portfolio in the country, is not disclosed for strategic reasons. "This is another important step in the decarbonization process, and we want to take this to the petrochemical chain as a whole," said Mr. Checcucci.Formed by 11 professionals, Voqen will initially occupy a room inside Braskem and will be led by two executives who came from the petrochemical company. Claudio Lindenmeyer will be head of natural gas commercialization, and Fábio Yanaguita, the...

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