By: ICN Bureau
Last updated : April 09, 2025 7:12 pm
Econic expands its technology portfolio to bring renewable carbon solutions to new markets with a strategic global license agreement
Econic Technologies, a deep tech company focused on renewable carbon, has signed a global license agreement for strategic rights to Saudi Aramco Technologies Company’s (SATC) CO2 polymer technologies.
By incorporating the technology into its existing portfolio, Econic will expand its overall product offering, allowing it to better serve new and existing customers in coatings, adhesives, sealants, and elastomers (CASE) and other market segments.
SATC was among the first companies to introduce CO2 polyols to market with its Converge range. Since the technology’s debut, complementary technologies and sustainability strategies have evolved significantly.
"At Econic, our market-leading catalytic and process technologies turn carbon dioxide — a readily available, abundant, and affordable source of renewable carbon — into useful, high-performing materials. We see an opportunity to take Aramco’s CO2 polyol technology to its potential, complementing and strengthening our existing offering. With this addition, we are excited to help a broader range of industries improve their products and reduce their carbon emissions” said Keith Wiggins, CEO of Econic.
"Saudi Aramco Technologies Company is pleased to license our CO2 polyols technology to Econic. Econic has emerged as a leader in CO2-based materials, and we are confident the company can successfully deploy our Converge polyols,” said Dr. Raed Abudawoud, CEO of SATC.
In recent months, Econic has accelerated the commercialization of its technology in the US, Europe and Asia. The company announced several commercial agreements and MOUs with polyols producers that will manufacture and market polycarbonate ether (PCE) polyols based on captured carbon. Industrial quantities will be available in 2025.