Econic Technologies, a deep tech company specialising in renewable carbon solutions, has secured a global license agreement to utilise Saudi Aramco Technologies Company's (SATC) CO2 polymer technologies. This strategic move allows Econic to integrate this advanced technology into its current product lineup, enhancing its offerings in coatings, adhesives, sealants, and elastomers (CASE) and other sectors.
SATC was among the first to introduce CO2 polyols to the market with its Converge range. As technology and sustainability strategies have progressed, there's been an increased demand from manufacturers and consumers for sustainable, high-performance, and cost-effective solutions. This demand is coupled with growing regulatory pressures to reduce carbon emissions. Econic aims to leverage SATC’s CO2 technology to meet these demands and capitalise on the rising interest in sustainable materials.
Econic’s leading catalytic and process technologies transform carbon dioxide into valuable, high-performance materials. “We see an opportunity to take Aramco’s CO2 polyol technology to its potential, complementing and strengthening our existing offering. With this addition, we are excited to help a broader range of industries improve their products and reduce their carbon emissions,” said Keith Wiggins, CEO of Econic.
Dr Raed Abudawoud, CEO of SATC, expressed satisfaction about the deal with Econic: "Econic has emerged as a leader in CO2-based materials, and we are confident the company can successfully deploy our Converge polyols.”
Recently, Econic has accelerated its commercialisation efforts across the US, Europe, and Asia, forming multiple agreements to produce and market polycarbonate ether (PCE) polyols derived from captured carbon. Industrial-scale quantities are expected by 2025.
Econic Technologies, founded in 2011 by Dr. Charlotte Williams at Imperial College London, is headquartered in Alderley Park, UK, near Manchester. Its technology enables the production of polymers using CO₂, enhancing sustainability and product performance. Econic licenses its technology to prominent polyols and surfactant manufacturers serving major consumer brands. Today, it is recognised as part of the Cleantech Group’s Global Cleantech 100.