Econic Technologies, a leading deep tech company specializing in renewable carbon, has signed a Memorandum of Understanding (MOU) with PTT Global Chemical Public Company Limited (GC) and allnex. This collaboration aims to explore business and research opportunities to develop innovative polymer systems and processes for coatings using captured carbon.
Partnering for Sustainability and Innovation
GC, Thailand’s largest integrated petrochemical and refining company, is a major player in the Asia-Pacific region. Germany-based allnex, a global leader in industrial coating resins and additives, joins GC in this partnership with Econic to reduce the environmental impact of their operations. By incorporating Econic’s renewable carbon technologies, the companies plan to enhance the sustainability and performance of polymer products.
Advancing Eco-Friendly Polymer Coatings
Econic’s technologies offer significant environmental benefits, with the potential to reduce the carbon footprint of some products by 30% or more. Additionally, these technologies can enhance the performance of coatings, improving durability, corrosion resistance, and aesthetic qualities.
Keith Wiggins, CEO of Econic, emphasized the importance of the collaboration:
“This MOU with GC and allnex is a pivotal step in our mission to create sustainable and high-performance polymer solutions. 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.”
Supporting GC’s Sustainability Goals
GC views this partnership as a key component of its commitment to sustainability and innovation. Dr. Kamel Ramdani, Executive Vice President – Innovation at GC, highlighted the strategic importance of the collaboration:
“We look forward to working with Econic to develop advanced, eco-friendly systems to serve our customers and support GC’s sustainability goals. Through our corporate venture capital arm, we can offer expertise and experience. We also provide business connections to bring these innovative solutions to market successfully.”
Driving Innovation with allnex
Allnex also recognizes the potential of this partnership to deliver groundbreaking advancements in sustainable coatings. Dr. Benoit DeBecker, Senior VP of Corporate Development & Innovation at allnex, stated:
“We are excited to partner with Econic to explore cutting-edge technologies that support our commitment to sustainability. This MOU enables us to develop innovative solutions. These solutions meet the evolving needs of our customers and contribute to a more sustainable future.”
Shaping a Sustainable Future
As per the press release, through this collaboration, Econic, GC, and allnex are advancing the development of eco-friendly polymer systems that support sustainability goals. These organizations aim to drive innovation in polymer science. By leveraging their combined expertise, they also aim to contribute to a greener, more sustainable future.
