Solvay reaches nearly $393 million PFAS settlement with New Jersey

Reuters | June 28, 2023

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"The U.S. branch of Belgian chemicals company Solvay (SOLB.BR) has struck a nearly $393-million deal with the New Jersey Department of Environmental Protection (NJDEP) to settle some claims linked to drinking water pollution caused by one of its plants, Solvay announced on Wednesday.

The funds will be used to test for, filter and clean up pollution from per-and polyfluoroalkyl substances, or PFAS, near the company's southern New Jersey plant.

"Under the terms of the agreement, Solvay will pay $75 million to NJDEP for Natural Resource Damages (NRDs) and $100 million to fund NJDEP PFAS remediation projects in areas of New Jersey near the company’s West Deptford site", it said in a statement.

The company will also put aside $214 million to test the soil and water quality around the plant and "complete remediation activities."