Econic Technologies and Chimcomplex Join Forces to Convert 30% of CO2 into Polyols, Signaling Major Changes for European Manufacturing!

On October 22, 2024, Econic Technologies, a deep tech company in the field of renewable carbon, signed a far-reaching memorandum of understanding (MOU) with Romanian chemical giant Chimcomplex. Under this MOU, the two parties will establish a partnership to jointly explore potential opportunities in the production of CO2-based polyols. The aim of the collaboration is to improve the sustainability and performance of materials in various industries and to introduce sustainable polyol technology to the European market.

With its unique catalysts and processes, Econic Technologies is able to use captured carbon dioxide to replace up to 30% of fossil-based feedstocks in polyols. The company has the technical capabilities to license high-performance polyols for a wide range of applications, including furniture, mattresses, automotive, construction, footwear, apparel, and foams, laminates, coatings, and elastomers for multiple industrial uses.
Econic Technologies aims to help European industries reduce their carbon footprint and significantly reduce CO2 emissions by providing polyols that use captured CO2 as feedstock rather than fossil-based feedstock, thereby driving the transformation of European manufacturing to a more sustainable direction.

Steven Hunt, CEO of Chimcomplex, said: "The collaboration with Econic Technologies is an important step in Chimcomplex's evolution. By introducing advanced CO2-based polyol technology, we are able to help our customers reduce their carbon footprint. This partnership places Romanian manufacturing at the heart of the European sustainability process, in line with our strategy to reduce the environmental impact of our operations and to strengthen the capacity of European industry to produce high-performance environmentally friendly materials. Together, we will embark on a new chapter of innovation and growth to create a brighter, greener future for the chemical industry."

Keith Wiggins, CEO of Econic Technologies, said: "This collaboration with Chimcomplex marks an important milestone in our drive to promote the adoption of CO2 technologies in the global chemical industry. We are excited about the prospect of bringing this technology to the European market. By combining our innovative catalyst technology with Chimcomplex's extensive manufacturing expertise, we are committed to providing sustainable solutions that reduce reliance on fossil-based feedstocks and enhance the performance of everyday products."

To date, Econic Technologies has licensed its technology to Changhua Chemical in China, Monument Chemical in the United States and Manali in India. In addition, the company signed a memorandum of understanding with Japan's Sanyo Chemical Industry Co., Ltd. earlier this year. Industrial-grade PCE polyols based on Econic Technologies' technology are expected to be available later this year.

About Econic Technologies

Econic Technologies is a UK-based deep technology company focused on the renewable carbon sector. Its innovative catalyst and process technologies enable manufacturers to produce polymers based on carbon dioxide rather than fossil-based feedstocks. The use of carbon dioxide not only improves sustainability, it also creates a more cost-effective and better performing end product. Econic Technologies licenses its technology to manufacturers of polyols and surfactants that supply products to some of the world's most influential consumer brands. The company was founded in 2011 by Dr. Charlotte Williams of Imperial College London and is listed in the Cleantech Group's Top 100 Global Clean Technology companies. Its global headquarters are located in Alderley Park, outside Manchester, United Kingdom.