Conclusion of Collaboration Agreement on R&D Hub for Plastic Waste Processing Incubated by World Economic Forum
May 22, 2023
The Mitsubishi Chemical Group (the MCG Group) is pleased to announce that in April 2023, it has signed an R&D collaboration agreement with TNO, an independent Dutch research organization, for the R&D Hub for Plastic Waste Processing (R&D Hub) which was launched by the Low-Carbon Emitting Technologies (LCET) initiative of the World Economic Forum (WEF). We are the only Japanese chemical company to participate in the R&D Hub as a founding member.
The R&D Hub is a joint R&D project by seven global chemical companies that are members of the LCET initiative (the MCG Group, BASF, Covestro, Dow, SABIC, Solvay, and LyondellBasell) and TNO. This is the world's first attempt in the chemical industry to achieve net-zero and realize a circular future through global collaboration and joint development across companies. Under the collaboration agreement, the R&D Hub aims to develop new technologies for waste processing with a lower CO2 footprint and greater levels of plastic waste recycling. The first R&D project is scheduled to begin in late 2023.
The MCG Group will continue to provide innovative solutions to achieve net-zero and sustainable growth.
7 founding member companies and TNO
The R&D Hub is a joint R&D project by seven global chemical companies that are members of the LCET initiative (the MCG Group, BASF, Covestro, Dow, SABIC, Solvay, and LyondellBasell) and TNO. This is the world's first attempt in the chemical industry to achieve net-zero and realize a circular future through global collaboration and joint development across companies. Under the collaboration agreement, the R&D Hub aims to develop new technologies for waste processing with a lower CO2 footprint and greater levels of plastic waste recycling. The first R&D project is scheduled to begin in late 2023.
The MCG Group will continue to provide innovative solutions to achieve net-zero and sustainable growth.
7 founding member companies and TNO
Reference
●Announced by the WEF on May 8, 2023:
「Global Chemical Companies Sign Agreement on R&D Hub for Plastic Waste Processing Incubated by World Economic Forum」
https://www.weforum.org/press/2023/05/global-chemical-companies-sign-agreement-on-r-d-hub-for-plastic-waste-processing-incubated-by-world-economic-forum
●Announced by TNO on May 8, 2023:
「TNO and seven chemical multinationals start R&D hub for waste processing」
https://www.tno.nl/en/newsroom/2023/05/hub-plastic-waste-world-economic-forum/
●About the LCET initiative
The WEF’s LCET initiative is a coalition of leading chemical-sector companies committed to achieving a net-zero and circular future. The LCET initiative has established the industry's first CEO-led coalition, signaling a critical move towards implementation.
https://initiatives.weforum.org/low-carbon-emitting-technologies-initiative/home
●Announced by the WEF on May 8, 2023:
「Global Chemical Companies Sign Agreement on R&D Hub for Plastic Waste Processing Incubated by World Economic Forum」
https://www.weforum.org/press/2023/05/global-chemical-companies-sign-agreement-on-r-d-hub-for-plastic-waste-processing-incubated-by-world-economic-forum
●Announced by TNO on May 8, 2023:
「TNO and seven chemical multinationals start R&D hub for waste processing」
https://www.tno.nl/en/newsroom/2023/05/hub-plastic-waste-world-economic-forum/
●About the LCET initiative
The WEF’s LCET initiative is a coalition of leading chemical-sector companies committed to achieving a net-zero and circular future. The LCET initiative has established the industry's first CEO-led coalition, signaling a critical move towards implementation.
https://initiatives.weforum.org/low-carbon-emitting-technologies-initiative/home
