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BASF SE BASFY and Enerflex recently signed a memorandum of understanding (MoU) to collaborate on the commercial-scale implementation of carbon capture, utilization and storage (CCUS) applications. Per the deal, Enerflex's engineering, manufacturing and integration experience in gas processing and compression systems will be combined with BASF's proprietary OASE blue technology for flue gas and post-combustion CO2 capture.

Enerflex's experience in gas processing and compression systems extends four decades, with more than 150 CCUS projects capturing 5 million tons of CO2 each year. BASF is a recognized leader in carbon capture technology, with more than 500 reference plants. The MoU is expected to help accelerate the development of economic CCUS solutions, opening the path for global decarbonization progress.

BASF offers OASE blue, a technology for capturing CO2 from sources such as power plants and industrial sites. The company has considerable and long-term experience in gas treatment, contributing to sustainability goals through carbon capture and storage applications.

OASE blue is BASF's gas treatment technology, which has a low energy consumption, low solvent losses and a wide operating range. It is intended to address the special issues given by impurities found in flue gases from fossil-fuel power plants, steam reformers, boilers, waste incinerators and cement and steel industries.

Shares of BASFY have gained 5.4% over the past year against a 4.8% decline of its industry.

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Zacks Rank & Key Other Picks

BASF currently carries a Zacks Rank #2 (Buy).

Other top-ranked stocks in the basic materials space include ATI Inc. ATI, Carpenter Technology Corporation CRS, and Ecolab Inc. ECL.

ATI carries a Zacks Rank #2. ATI beat the Zacks Consensus Estimate in each of the last four quarters, with the average earnings surprise being 8.3%. The company's shares have soared 34.8% in the past year. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

Carpenter Technology currently carries a Zacks Rank #1. CRS beat the Zacks Consensus Estimate in each of the last four quarters, with the average earnings surprise being 15.1%. The company's shares have soared 91.8% in the past year.

The Zacks Consensus Estimate for Ecolab's current-year earnings is pegged at $6.59 per share, indicating a year-over-year rise of 26.5%. ECL, a Zacks Rank #2 stock, beat the consensus estimate in each of the last four quarters, with the average earnings surprise being 1.3%. The company's shares have rallied roughly 35.7% in the past year.

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