Econic, GC, and Allnex Sign MOU to Develop Advanced Polymer Systems Utilizing CO2

Econic Technologies, a company specializing in renewable carbon solutions, has entered into a Memorandum of Understanding (MOU) with PTT Global Chemical Public Company Limited (GC) and allnex. GC, Thailand's largest petrochemical and refining company and a leader in the Asia-Pacific region, joins Germany-based allnex, a prominent producer of industrial coating resins and additives, in exploring business and research partnerships aimed at advancing polymer systems and processes for coatings using captured carbon. By incorporating Econic’s technology, GC and allnex seek to lessen their environmental impact and drive the development of eco-friendly polymer products. Econic’s solutions have the potential to reduce carbon footprints by 30% or more and can enhance coatings' performance through increased durability, corrosion resistance, and aesthetic quality.

“This MOU with GC and allnex is a vital step toward our goal of creating sustainable, high-performance polymer solutions,” said Econic CEO Keith Wiggins. “Combining our renewable carbon technology with their expertise in coatings positions us to make significant advances in polymer science that support global sustainability goals.”

Dr. Kamel Ramdani, GC’s Executive Vice President of Innovation, added, “GC is dedicated to promoting sustainability and innovation. Collaborating with Econic aligns with our strategy to support startups and leverage new technologies to meet our corporate objectives. Through our corporate venture capital arm, GC can provide valuable resources to facilitate successful market entry.”

Dr. Benoit DeBecker, allnex’s Senior VP of Corporate Development & Innovation, noted, “Partnering with Econic allows us to explore breakthrough technologies that reflect our commitment to sustainability. This MOU enables us to create solutions that not only satisfy customer needs but also contribute to a more sustainable future.”

Econic Technologies, a UK-based deep tech company, specializes in renewable carbon innovations. Its cutting-edge catalyst and process technology enables manufacturers to create polymers using CO2 instead of traditional petrochemicals, enhancing sustainability while delivering more cost-effective and high-performance products. Econic grants licenses for this technology to polyol and surfactant producers that serve top global consumer brands. Founded in 2011 by Dr. Charlotte Williams at Imperial College London, Econic is recognized on the Cleantech Group’s Global Cleantech 100 list. The company is headquartered in Alderley Park, UK, near Manchester.

PTT Global Chemical Public Company Limited (GC) is Thailand's largest integrated petrochemical and refining enterprise and a key player in the Asia-Pacific region. With an extensive product range spanning petrochemicals to biochemicals, GC is the world’s leading producer of bioplastics. The company operates through over 34 subsidiaries and joint ventures, with manufacturing facilities and distributors in 29 countries worldwide. GC drives success through large-scale operations focused on lean practices and process improvements to maximize efficiency.

Allnex is a global leader in manufacturing industrial coating resins and additives for applications in architectural, industrial, protective, automotive, and specialty coatings and inks. Known for its pioneering work in specialty chemistry, allnex offers a comprehensive range of products, including advanced liquid resins, radiation-curing and powder coating resins and additives, and crosslinkers for surfaces like wood, metal, and plastic. With a global footprint, allnex operates 33 production sites, 23 research and technology centers, and employs 4,000 people worldwide.