Grace is a global supplier of innovative catalyst technologies with a leading position in the petroleum refining and polyolefin market segments. Braskem is the leading thermoplastics resin producer in the Americas, with a goal of becoming the world leader in sustainable chemistry by 2020. Details and financial terms of the agreement were not disclosed.

The use of renewable feedstocks is a growing trend in the global chemical industry. The technology under development in the Grace-Braskem collaboration is based on carbon sources from renewable agricultural processes that contribute to lower carbon emissions than traditional feedstocks.

Braskem is a global leading producer of biopolymers and has announced plans to expand production of sugar-based bio-polyolefins.