UK-based Econic Technologies, whose catalyst and process technology allows manufacturers to produce polymers based on CO₂, has signed a Memorandum of Understanding with Thailand's PTT Global Chemical Public Company Limited (GC) and allnex. It is not Econic's first deal with a company in Asia; earlier this year, the company signed a memorandum of understanding aimed at collaboration on the development of CO2-based polyols with Sanyo, in Japan and Changhua Chemical, a China-based polycarbonate ether (PCE) producer, is currently constructing a CO2-based polyol plant using Econic's technology.
GC is Thailand's largest integrated petrochemical and refining business; allnex is a Germany-headquartered manufacturer of industrial coating resins and additives. The three companies will evaluate a potential collaboration on the development of polymer systems and processes for coatings based on captured carbon.
Econic’s technologies will allow GC and allnex to reduce the environmental footprint of their businesses and promote the development of eco-friendly polymer products - ‘to serve our customers and GC’s sustainability goals’, as Kamel Ramdani, Executive Vice President - Innovation, GC, said. Moreover, GC can offer the expertise, experience, and business connections needed to support a successful go-to-market process.
“This MOU will enable us to develop innovative solutions that not only meet the evolving needs of our customers but also contribute to a more sustainable future,” added Benoit DeBecker, Senior VP Corporate Development & Innovation, allnex.
Econic’s technologies have the capability to decrease the carbon footprint of certain products by over 30 percent. Additionally, they can enhance the performance of coatings by improving durability, corrosion resistance, and aesthetic qualities.
Signing the MOU with GC and allnex represents a ‘pivotal step’ for Econic, said CEO Keith Wiggins. “By combining our renewable carbon technology with their extensive expertise in coatings, we are poised to drive significant advancements in polymer science that align with global sustainability goals.”