Solvay Announces Future Company Names and Planned Separation
In an exciting development, Solvay, a renowned chemical company, has revealed the new names for its future independent publicly traded companies. This announcement comes as part of Solvay’s planned separation into two industry-leading entities: SOLVAY and SYENSQO. With a rich legacy and a focus on sustainable solutions, these companies are set to redefine the world of chemistry and science. Let’s delve deeper into the details.
SOLVAY: Masters of Essential Chemistry
SOLVAY, formerly known as EssentialCo, embraces a legacy of over 160 years of excellence. The name SOLVAY perfectly reflects the company’s commitment to creating and delivering essential solutions in housing, health, nutrition, and mobility. By addressing the basic needs of humanity, SOLVAY plays a vital role in people’s everyday lives.
SOLVAY is dedicated to sustainable practices and focuses on essential elements that contribute to a better world. The name SOLVAY pays homage to the founders of the company who revolutionized the soda ash process, setting the stage for future disruptive innovations and sustainable advancements.
Meeting Essential Needs
SOLVAY’s primary objective is to provide society and future generations with sustainable solutions that meet their essential needs. These solutions encompass purifying the air we breathe, preserving the water we drink, safeguarding our food supplies, protecting our health and well-being, creating eco-friendly clothing, enhancing tire sustainability, and ensuring clean and protected homes.
Strong Market Presence
SOLVAY comprises several leading mono-technology businesses, including Soda Ash, Peroxides, Silica, Coatis, and Special Chem. In 2022, these businesses generated approximately €5.6 billion in net sales. SOLVAY’s position as a leader in these markets enables it to offer proven essential technologies to various attractive and resilient end markets.
SYENSQO: Exploring the Future of Science
SYENSQO, previously known as SpecialtyCo, represents a visionary science company focused on exploration, innovation, and the future of science. With strong ties to Solvay’s scientific history, SYENSQO aims to make groundbreaking discoveries and push the boundaries of scientific understanding.
A Heritage of Scientific Excellence
The name SYENSQO carries significant meaning derived from Solvay’s scientific heritage. The “SY” connects to the first and last letters of Solvay, emphasizing the company’s legacy. The “EN” references Ernest Solvay, the founder of Solvay and a driving force behind its scientific pursuits.
Solvay Conferences and Quantum Physics
“SYENS” symbolizes the profound impact of the Solvay Conferences, which brought together luminaries such as Albert Einstein and Marie Curie in 1911. These conferences played a pivotal role in the development of Quantum Physics, marking the beginning of a scientific journey that continues to drive cutting-edge innovation today.
Envisioning the Future
The inclusion of “Q” in SYENSQO signifies the 1911 Solvay Conference’s significance in Quantum Physics and the subsequent scientific advancements. The “QO” stands for “company,” highlighting SYENSQO’s role in shaping the future of science.
SYENSQO will spearhead developments in clean mobility, facilitating the next generation of electric vehicle (EV) batteries. Additionally, it will drive advancements in green hydrogen, thermoplastic composites, bio-based solutions, natural ingredients, circular solutions, and more. The company comprises innovative businesses such as Specialty Polymers, Composites, Novecare, Aroma, Technology Solutions, Oil & Gas, as well as growth platforms in batteries, green hydrogen, thermoplastic composites, and renewable materials and biotechnology. In 2022, these businesses generated approximately €7.9 billion in net sales.
Planned Separation and Updates
Solvay’s planned separation into SOLVAY and SYENSQO is set to be completed by December 2023, pending the fulfillment of customary conditions. The new company names will take effect upon completion, ushering in a new era of excellence and innovation in chemistry and science.
Solvay will regularly provide updates on the separation process through a dedicated section of its website. This platform will offer ongoing information about this important project, ensuring stakeholders and the public are informed every step of the way.
The unveiling of SOLVAY and SYENSQO as the new company names marks an exciting chapter in Solvay’s history. As two independent industry leaders, these companies will continue Solvay’s legacy of excellence and redefine essential chemistry and the future of science. With their sustainable solutions and commitment to innovation, SOLVAY and SYENSQO are poised to shape a better and brighter world for generations to come.