Chimcomplex and Econic Enter MOU to Explore CO2 Polyol Production in Europe

Chimcomplex, a leading chemical industry player in Romania, has signed a memorandum of understanding (MOU) with Econic Technologies, a deep tech company focused on renewable carbon. This collaboration aims to explore the potential production of CO2-based polyols, enhancing sustainability and performance across various industries while introducing sustainable polyol technology to the European market.

Econic’s innovative technology utilizes a proprietary catalyst and process that allows manufacturers to substitute up to 30% of fossil-based materials in polyols with captured CO2. This technology can be licensed by manufacturers to produce high-performance polyols, suitable for a wide array of applications, including foams, laminates, coatings, and elastomers used in furniture, mattresses, automotive components, construction, footwear, apparel, and various industrial purposes.

This initiative significantly contributes to reducing the carbon footprint of European industries by providing polyols derived from captured CO2 instead of traditional fossil fuels, leading to a substantial decrease in CO2 emissions. Steven Hunt, CEO of Chimcomplex, stated, “This partnership with Econic Technologies is a major step forward for Chimcomplex. By adopting advanced CO2-based polyol technology, we enable our customers to lower their carbon footprint. Positioning the Romanian manufacturing sector at the forefront of the European sustainability movement, this collaboration not only aligns with our strategy to minimize the environmental impact of our operations but also enhances European industrial capabilities in producing high-performance, eco-friendly materials. Together, we will unlock new avenues for innovation and growth, fostering a brighter, greener future for the chemical industry.”

Keith Wiggins, CEO of Econic Technologies, emphasized the significance of this collaboration, noting, “This partnership with Chimcomplex represents a key milestone in our mission to promote the adoption of CO2-based technologies throughout the global chemical sector. We are thrilled at the opportunity to introduce our technology to the European market. By merging our innovative catalyst technology with Chimcomplex’s extensive manufacturing expertise, we are well-positioned to deliver sustainable solutions that reduce dependence on fossil fuels and improve the performance of everyday products.”

Econic’s technology has already gained traction internationally, with companies such as Changhua in China, Monument Chemical in the U.S., and Manali in India having licensed its technology. Earlier this year, Econic also signed an MOU with Sanyo Chemical. Industrial quantities of polycarbonate ether (PCE) polyols based on Econic’s technology are expected to become available in the market later this year, marking a significant step toward sustainable chemical production in Europe.

Chimcomplex is the leading manufacturer and supplier of essential chemicals in Eastern Europe, focusing on polyols, chloro-alkali, amines, and oxo-alcohols. As a strategic player in the Romanian economy, it operates the largest chemical plant in the region, featuring two industrial sites in One?ti and Râmnicu Vâlcea. With a 70-year legacy, Chimcomplex is committed to developing quality products and processes aimed at enhancing life and promoting sustainability. In 2023, the company reported a turnover of approximately 283 million euros and is headquartered in Bucharest, Romania.