Braskem (BRKM5), one of the main petrochemical companies in the country, created an independent company, Voqen, to operate in the area of energy and natural gas.

The idea is that the company will serve Braskem itself as well as other clients, mainly from the chemical and petrochemical sector, focusing on new models for the commercialization of gas and energy. Another goal is to work on the delivery of renewable energy solutions that accelerate the energy transition.
At first, Voqen will be 100% controlled by Braskem, with a portfolio of R$ 3 billion per year in electric energy and natural gas contracts under management. These are contracts that belonged to Braskem and cover about 750 average megawatts (MW) and 2.5 million cubic meters of gas per day, consumed by the petrochemical company’s operations in the country.

Braskem’s energy director, Gustavo Checcucci, told Valor Economico newspaper that the company had been sought out by clients and that the idea is to become, with Voqen, “more active in this process.

Voqen will initially occupy a room inside Braskem and will be led by two executives who came from the petrochemical company: Claudio Lindenmeyer will take on the position of natural gas commercialization director, and Fábio Yanaguita, that of electric energy commercialization director.
There are no concrete plans for this yet, but the executives do not rule out the possibility, in the future, that Voqen will receive new partners and even capitalize itself via an initial public offering (IPO) of shares.

In this Thursday’s trading session, Braskem’s shares were quoted, at noon, around R$ 29.15, up 1% in relation to the opening. In its last report on the company, on September 11, the bank BTG Pactual (BPAC11) maintained its recommendation to buy the shares, with a target price of R$ 68.