Econic Technologies signs memorandum of understanding with GC and Allnex to develop sustainable coating systems
Econic Technologies, a deep-tech company specializing in renewable carbon, has signed a Memorandum of Understanding (MOU) with PTT Global Chemical Public Company Limited (GC) and Allnex.
GC is Thailand’s largest integrated petrochemical and refining business and a leading corporation in the Asia-Pacific region. Germany-based Allnex is a leading manufacturer of industrial coating resins and additives. The collaboration aims to explore business opportunities and research projects to advance polymer systems and processes for coatings based on captured carbon.
Reducing the environmental footprint
By integrating Econic’s technologies, GC and Allnex aim to reduce the environmental footprint of their operations and promote the development of eco-friendly polymer products. Econic’s technologies can lower the carbon footprint of certain products by 30% or more while enhancing the performance of coatings through improved durability, corrosion resistance, and aesthetic qualities.
“This MOU with GC and Allnex is a pivotal step in our mission to create sustainable and high-performance polymer solutions,” said Keith Wiggins, CEO of Econic. “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.”
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Driving sustainable innovations together
Dr. Kamel Ramdani, Executive Vice President – Innovation at GC, added: “GC is committed to fostering sustainability and innovation within our portfolio. We are excited to collaborate with Econic to develop advanced, eco-friendly systems that benefit our customers and support GC’s sustainability goals. This partnership is part of our strategy to invest in startups and leverage new technologies to achieve our corporate ambitions. Through our Corporate Venture Capital (CVC) arm, we can provide expertise, experience, and business connections to ensure successful market entry.”
Dr. Benoit DeBecker, Senior VP Corporate Development & Innovation at Allnex, also expressed enthusiasm: “We are thrilled to partner with Econic to explore groundbreaking technologies that reinforce our commitment to sustainability. This MOU enables us to develop innovative solutions that not only meet the evolving needs of our customers but also contribute to a more sustainable future.”
