PTT Global Chemical Public Company Limited (GC), a leading global chemical company has signed a Memorandum of Understanding (MOU) with Econic Technologies, a deep-tech company specializing in renewable carbon solutions, and allnex, a leading global manufacturer of industrial coating resins and additives. The MoU marks the beginning of a collaborative effort to explore business and research opportunities to develop advanced polymer systems and processes for coatings made from captured carbon.

By integrating Econic’s technologies, GC and allnex aim to reduce the environmental footprint of their businesses and promote the development of eco-friendly polymer products. Econic’s technologies can reduce the carbon footprint of some products by 30 percent or more. The technologies also have the potential to improve the performance of coatings by enhancing durability, corrosion resistance, and aesthetic properties.

“GC is committed to fostering sustainability and innovation in our business portfolio,” said Dr. Kamel Ramdani, Executive Vice President - Innovation, GC. “We look forward to working with Econic to develop advanced, eco-friendly systems to serve our customers and GC’s sustainability goals. It is part of GC’s strategy to invest in startups and leverage emerging technologies to achieve our corporate ambitions. Through our corporate venture capital (CVC) arm, GC can offer expertise, experience, and business connections to support successful go-to-market.”

“This MoU with GC and allnex is a pivotal step in our mission to create sustainable and high-performance polymer solutions. By combining our renewable carbon technology with their extensive expertise in coatings, we are poised to drive significant advancements in polymer science that align with global sustainability goals,” said Keith Wiggins, CEO of Econic.

“We are excited to partner with Econic to explore cutting-edge technologies that support our commitment to sustainability,” said Dr. Benoit DeBecker, Senior VP Corporate Development & Innovation, allnex. “This MoU will enable us to develop innovative solutions that not only meet the evolving needs of our customers but also contribute to a more sustainable future.”