The companies aim to reduce the environmental footprint and develop eco-friendly polymers for the paints and coatings industry.
Allnex
and PTT Global Chemical Public Company Limited have recently announced that they both signed a Memorandum of Understanding (MOU) with Econic Technologies to explore advanced polymer systems for paints and coatings made from CO2. As a matter of fact, the carbon-capture technology form Econic can help to reduce the carbon footprint of select products by 30%, as well as improving durability, corrosion resistance and aesthetic properties.
“We are excited to partner with Econic to explore cutting-edge technologies that support our sustainability goals. The recent Memorandum of Understanding offers an opportunity to develop innovative solutions that not only meet the evolving needs of our customers, but that also contribute to a more sustainable future,” has declared Benoit De Becker, the vice-president of corporate development and innovation of Allnex.
Allnex is an international manufacturer and supplier of resins and additives for architectural, industrial, protective, automotive and special-purpose paints, coatings and inks, with production facilities and research and development centres located all around the world. PTT, on the other hand, is the largest integrated petrochemical and refining business in the Asia-Pacific region, both in size and product variety – from petrochemical to biochemical and bioplastics.
“We are committed to fostering sustainability and innovation in our business portfolio, so we look forward to working with Econic to develop advanced eco-friendly systems to serve our customers and support the sustainability goals. The initiative is aligned with our strategy of investing in emerging technologies and leveraging our corporate venture capital (CVC) arm to support impactful startups. We look forward to contributing our expertise and business networks to bring these solutions to market,” has added Kamel Ramdani, the executive vice-president of innovation at PTT.
The new partnership highlights a collaborative effort among the companies, in order to explore business and research opportunities focused on advancing polymer systems and processes for coatings derived from captured ìCO2. By incorporating the innovative technologies from Econic, the parties involved aim to reduce the environmental footprint of their operations while also developing eco-friendly polymer products for the coatings industry.
“This MOU 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,” has concluded Keith Wiggins, the CEO of Econic.