FLORHAM PARK, N.J., March 30, 2016 /PRNewswire/ -- BASF kicked off its second annual North American Science Competition on March 14. This year's competition focuses on the following challenge: What chemistries can be used to develop a synthetic fluid to meet the needs of tomorrow's high performance, high-efficiency engines and transmissions.
With more advanced machinery, lubricating and functional fluids represent a steadily growing industry projected to reach $11 billion by 2020. Synthetic fluids, which are more expensive than petroleum-derived materials, address increasing market demands for higher quality and purity, increased performance and more stringent environmental standards. Through the competition, BASF hopes to encourage research on high performing synthetic fluids with better thermal stability, extended life cycles, reduced waste and ultimately support the development of more fuel-efficient vehicles.
"We invite creative and talented students to participate in this engaging and competitive event," said Elvira Stesikova, BASF Innovation Project Manager. "Participants will help solve a global challenge and learn to communicate and pitch their ideas while networking with BASF researchers, coaches and executives."
Open to teams consisting of two to four Ph.D. students and young researchers in the U.S. and Canada (excluding Quebec), this competition encourages innovative and game-changing ideas.
Proposals are being accepted until May 9, 2016. All finalists will receive cash awards and the opportunity to present their proof-of-concept to BASF executives August 3 and 4 at the BASF Research and Development location in Tarrytown, NY.
BASF Corporation, headquartered in Florham Park, New Jersey, is the North American affiliate of BASF SE, Ludwigshafen, Germany. BASF has nearly 17,500 employees in North America, and had sales of $17.4 billion in 2015. For more information about BASF's North American operations, visit www.basf.us.
At BASF, we create chemistry for a sustainable future. We combine economic success with environmental protection and social responsibility. The approximately 112,000 employees in the BASF Group work on contributing to the success of our customers in nearly all sectors and almost every country in the world. Our portfolio is organized into five segments: Chemicals, Performance Products, Functional Materials & Solutions, Agricultural Solutions and Oil & Gas. BASF generated sales of more than €70 billion in 2015. BASF shares are traded on the stock exchanges in Frankfurt (BAS), London (BFA) and Zurich (AN). Further information at www.basf.com.
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SOURCE BASF Corporation