UK-based Econic Technologies, specialised in the development of sustainable polyols based on waste CO2 has announced the finalisation of a Joint Development and Technology Transfer Agreement with Manali Petrochemicals Limited (MPL). MPL is the market leader and only integrated polyol producer in India.
The agreement, which follows up on the MOU signed between the companies last year, provides for the further advancement of the commercialisation of the CO2-based polyols developed by Econic. This will start with the scale-up and manufacture of these polyols, initially in Manali’s demo scale facilities, followed by retrofit of Manali’s 12,000+ industrial scale reactors with Econic’s proprietary process.
The benefits are twofold, according to Ashwin Mutiah, Chair of AM International, Manali’s parent company. “Alongside delivering a greener product to our customers, it reaffirms our ESG commitment towards a carbon neutral planet.”
The agreement also represents a significant step in the global scale-up of Econic’s its catalyst and process technology and reflects MPL’s vote of confidence in the company’s technology.
“We appreciate this next development in our partnership with MPL and the opportunity to work with them as a pioneering licensee of Econic’s technology in one of the biggest and fastest growing geographies,” said Keith Wiggins, CEO of Econic Technologies.
“There is undeniable momentum for solutions that meet consumer demand for more sustainable products made using waste CO2.”