| Syensqo SA | |
| Type: | Public |
| Traded As: | BEL 20 component |
| Isin: | [1] |
| Founder: | Alfred and Ernest Solvay |
| Location: | Brussels, Belgium |
| Area Served: | Worldwide |
| Key People: | Ilham Kadri (CEO) Rosemary Thorne (Chair)[2] |
| Industry: | Chemicals |
| Products: | Advanced materials and composites |
| Revenue: | €6,8 billion (2024) |
| Net Income: | €3,792 million (2024) |
| Num Employees: | 13,000 (2023)[3] |
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.
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]
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]