Mitsubishi Corporation and Denka sign fullerene business joint venture agreement

Mitsubishi Corporation and Denka Co., Ltd. announced the signing of a joint venture agreement for the business of fullerene, a carbon molecule that forms the basis of cutting-edge materials in the field of nanotechnology. Under the terms of the agreement, Denka will acquire a 50% stake in Frontier Carbon Corporation, a company dedicated to the manufacturing and sales of fullerene, from Mitsubishi Corporation.

Fullerene is a nanoscale allotrope of carbon in which single- or double-bonded atoms are linked together in spherical hexagonal rings that resemble a football. They have excellent electrical and thermal properties and can be dissolved in common organic solvents at room temperature, making them effective conductors in organic thin-film solar cells.

Since the establishment of Frontier Carbon Corporation in 2001, Mitsubishi Corporation has leveraged technical cooperation with long-term customers, established a sales network, and vigorously entered the commercial fullerene market. Following the receipt of Substance 3 and other fullerene-related patents, Mitsubishi Corporation is committed to applying its collective multi-industry capabilities to the Frontier Carbon Corporation's future growth and development.

The energy transition is a key component of Mitsubishi Corporation's latest management plan, the Mid-term Corporate Strategy 2024, which sets out the company's aim to help decarbonize the industry by linking industry needs to seeds of growth in materials and other areas. Providing fullerene-based solutions is just one of Mitsubishi Corporation's contributions to achieving a carbon-neutral society.

Denka possesses advantages that will be invaluable in supporting Frontier Carbon Corporation's future growth, including the former's carbon nanomaterials expertise and manufacturing technology accumulated through the large-scale production of acetylene black 5. Denka will play an equally important role in supporting commercial infrastructure development using its manufacturing facilities and other utilities. These assets are expected to enhance the company's presence in the carbon nanomaterials market and further advance its business expansion plans in this field.

Denka recognizes the industrial potential of fullerene in electronics, biopharmaceuticals and many other industries and plans to integrate it into the three focus areas of its latest management plan, Mission 2030 - ICT and energy, healthcare and sustainable living.

Mitsubishi Corporation and Denka look forward to combining their respective sales and technical expertise to facilitate the growth of fullerene applications. Our shared goal is to leverage FCC's business to address society's challenges by developing systems to increase production and meet growing demand for these cutting-edge materials.