News

2023/5/24

Conclusion of Collaboration Agreement on R&D Hub for Plastic Waste Processing Incubated by World Economic Forum

The Mitsubishi Chemical Group (the MCG Group) announced that in April 2023, it has signed an R&D collaboration agreement with TNO, an independent Dutch research organization, for the R&D Hub for Plastic Waste Processing (R&D Hub) which was launched by the Low-Carbon Emitting Technologies (LCET) initiative of the World Economic Forum (WEF). The MCG Group is the only Japanese chemical company to participate in the R&D Hub as a founding member.

The R&D Hub is a joint R&D project by seven global chemical companies that are members of the LCET initiative (the MCG Group, BASF, Covestro, Dow, SABIC, Solvay, and LyondellBasell) and TNO. This is the world's first attempt in the chemical industry to achieve net-zero and realize a circular future through global collaboration and joint development across companies. Under the collaboration agreement, the R&D Hub aims to develop new technologies for waste processing with a lower CO2 footprint and greater levels of plastic waste recycling. The first R&D project is scheduled to begin in late 2023.

Category

Headline News