International. LG Chem and GS Caltex sign a Memorandum of Understanding (MOU) to further their collaborative efforts in a joint project focused on 3HP (3-hydroxypropionic acid), an essential raw material for eco-friendly biodegradable plastics.
LG Chem and GS Caltex continue to accelerate the green biomaterials business.
The MOU follows a 2021 Joint Development Agreement (JDA) between the two entities, which culminated in the construction of a 3HP test plant at the GS Caltex Yeosu plant in July of the same year.
The recently completed plant sets the stage for prototype production, which is scheduled to start in the first quarter of 2024.
Produced by microbial fermentation of plant-based materials, 3HP stands out as an eco-friendly substance.
3HP-derived plastics exhibit exemplary biodegradability and flexibility, positioning them as viable replacements for various disposable materials.
In addition, 3HP can be transformed into bioacrylic acid, positioning it as a next-generation chemical platform with applications in a variety of materials, including superabsorbent polymers (SAPs) used in diapers, as well as paints, adhesives, coating materials, and carbon fiber.
While there have been global attempts to develop 3HP-related technologies, none have been commercialized to date. Therefore, the companies' upcoming production of the prototype will represent 3HP's first global commercialization.
The cooperation between LG Chem and GS Caltex is made possible by the synergy of LG Chem's 3HP fermentation platform technologies with GS Caltex's refining technology and process scaling capabilities, spanning laboratory, testbed, pilot demonstration (test plant) and commercialization.
With the MOU, both companies agreed to jointly evaluate the 3HP project model and the business in general, with the intention of engaging in comprehensive discussions covering a broad spectrum of cooperation areas, such as exploring the possible establishment of a joint venture and examining biodegradable materials projects, considering the varied conditions of the bioplastics market.
LG Chem is focused on realizing its decarbonization strategy across its supply chain, with initiatives such as converting to 100% renewable energy, aiming to achieve Net Zero by 2050, implementing LCA (Life Cycle Assessment), responsible management of resource procurement policies, and pioneering technological development. in the conversion of carbon dioxide.
"We will persist in leading environmentally friendly technologies, enhancing our commitment to achieve Net Zero by 2050 by strengthening our partnership for a sustainable future in the white bio sector," said Hak Cheol Shin, CEO of LG Chem.
"From our cooperation in the development of green materials, we aim not only to strengthen ESG capabilities by contributing to a circular economy and reduce carbon emissions, but also to forge economic value through the commercialization of high value-added products," said Heo Se. -Hong, CEO of GS Caltex.
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