Replace Car Wood And Plastic! Mitsubishi Chemical Invests in The Development of Bio-based Composite Materials for Vehicles

On February 25, Diamond Edge Ventures Inc., a subsidiary of Mitsubishi Chemical Holdings, invested in California-based Lingrove Inc., a developer of carbon-negative composite materials made of plant resin and linen-lined fiber reinforcements. Lingrove will use the funds to scale its operations, hire key employees and increase manufacturing capabilities.

Mitsubishi Chemical aims to achieve carbon neutrality as early as possible under its new boss, Jean-Marc Gilson, who will take over as president in April 2021. Before joining Mitsubishi Chemical, he was CEO of Roquette, a French food and pharmaceutical ingredients company, and held management positions before that at Avantor Performance Materials. The plan also includes divesting Mitsubishi Chemical's polyethylene and polypropylene businesses - Japan Polyethylene and Japan Polypropylene.

Lingrove's Ekoa natural composites are 15% less dense than carbon fiber, while their stiffness-to-weight ratio exceeds that of aerospace fiberglass (E-glass). The vibration damping of Ekoa composite is three times that of glass and 20% higher than that of carbon.

"This investment is proof that large materials companies can play an active role in advancing carbon neutrality," said Patrick Suel, president of Diamond Edge Ventures. "We typically invest in top-tier startups in a field. But with Lingrove, we chose to leverage Leaders in companies addressing today's sustainability issues and customer application needs with natural materials and novel chemistries."

Ekoa composites have been used to replace mainstream materials such as wood in musical instruments and designer furniture. Upcoming uses in later testing include instrument panels in electric vehicles, kitchen and bathroom products, and sound-absorbing panels. Durable and moldable, Ekoa is said to offer a sustainable alternative to other composites and existing materials with a luxurious and natural aesthetic.

"Demand for Ekoa is very strong and growing," said Lingrove CEO Joe Luttwak. “Soon, every car, furniture and product designer will be able to replace wood and plastic. We’re ready to help deliver high-performance, beautiful, sustainable products that meet our customers’ climate commitments—and most importantly Keep the forest intact."