Investment in Licella Holdings, an Australian Company with Oil Conversion Technology Using Supercritical Water - Aiming to expand oil conversion business and diversify raw materials -
July 18, 2025
Diamond Edge Ventures, Inc. (President: Curtis Schickner, hereinafter “DEV”), the corporate venture arm of Mitsubishi Chemical Group (President: Manabu Chikumoto, hereinafter “MCG Group), announced today its investment in Licella Holdings, Ltd. (CEO: Dr. Len Humphreys, hereinafter “Licella”), an Australian technology leader in advanced recycling and renewable fuels. The funding will help accelerate Licella’s global expansion and commercial deployment of its proprietary Catalytic Hydrothermal Reactor (Cat-HTR™) technology.
Licella's Cat-HTR™ process is an innovative technology that converts waste plastics and biomass into oil in supercritical water under high temperature and high pressure, which is then refined to produce chemical feedstocks and sustainable aviation fuel (hereinafter “SAF”). Mitsubishi Chemical Corporation (hereinafter “MCC”) is involved in the plastic-to-oil conversion business together with ENEOS Corporation, and recently constructed a new chemical recycling facility at MCC’s Ibaraki Plant (Kamisu City, Ibaraki Prefecture). The Hydro-PRT™ technology of U.K.-based Mura Technology, which was adopted for this facility, is based on Licella's Cat-HTR™ technology.
Licella's Cat-HTR™ process is characterized by its ability to convert not only plastics but also biomass into oil, and in the “Commencement of a Pre- Feasibility Study for the Commercialization of Sustainable Aviation Fuel, Bio-naphtha, and Renewable Diesel Utilizing Domestic Forest Residues” announced by MCC on March 27, 2025, it is envisioned that Licella's technology will be used to produce SAF, bionaphtha, renewable diesel, and other products from woody residue.
“Stable supply platform for green chemicals” is a major pillar of the MCG Group's management vision “KAITEKI Vision 35,” and the MCG Group is now studying ways to diversify its raw materials with a view to increasing the scale of its chemical recycling facilities in the future. With this investment, the MCG Group will deepen its collaboration with Licella, aiming for the social implementation of oil conversion technology using waste plastics and biomass as feedstock and expansion of the business.
・Licella Holdings, Ltd.：https://www.licella.com/
Licella’s commercial-scale Cat-HTR™ plant for biomass-to-biofuels in Prince George, Canada
Licella's Cat-HTR™ process is an innovative technology that converts waste plastics and biomass into oil in supercritical water under high temperature and high pressure, which is then refined to produce chemical feedstocks and sustainable aviation fuel (hereinafter “SAF”). Mitsubishi Chemical Corporation (hereinafter “MCC”) is involved in the plastic-to-oil conversion business together with ENEOS Corporation, and recently constructed a new chemical recycling facility at MCC’s Ibaraki Plant (Kamisu City, Ibaraki Prefecture). The Hydro-PRT™ technology of U.K.-based Mura Technology, which was adopted for this facility, is based on Licella's Cat-HTR™ technology.
Licella's Cat-HTR™ process is characterized by its ability to convert not only plastics but also biomass into oil, and in the “Commencement of a Pre- Feasibility Study for the Commercialization of Sustainable Aviation Fuel, Bio-naphtha, and Renewable Diesel Utilizing Domestic Forest Residues” announced by MCC on March 27, 2025, it is envisioned that Licella's technology will be used to produce SAF, bionaphtha, renewable diesel, and other products from woody residue.
“Stable supply platform for green chemicals” is a major pillar of the MCG Group's management vision “KAITEKI Vision 35,” and the MCG Group is now studying ways to diversify its raw materials with a view to increasing the scale of its chemical recycling facilities in the future. With this investment, the MCG Group will deepen its collaboration with Licella, aiming for the social implementation of oil conversion technology using waste plastics and biomass as feedstock and expansion of the business.
・Curtis Schickner, President of Diamond Edge Ventures, said:
“Licella’s Cat-HTR™ platform offers a scalable and flexible pathway to produce circular chemicals and sustainable fuels from hard-to-recycle waste streams and biomass—exactly the kind of innovation needed to build a stable supply platform for green chemicals. By partnering with Licella at this pivotal stage, including supporting its efforts with the Japanese consortium on sustainable aviation fuel production, we are helping to accelerate the transition to a low-carbon, circular economy.”・Dr. Humphreys, Co-Founder & CEO of Licella, said:
“We are proud to partner with Diamond Edge Ventures and Mitsubishi Chemical Group at this important moment for Licella. Their funding and strategic support validate the commercial readiness of our Cat-HTR™ platform and its unique ability to deliver scalable, low-carbon solutions for hard-to-recycle plastics and biomass residues. Together, we aim to accelerate the shift to fossil-replacement solutions that contribute to MCG’s vision for a greener, more sustainable chemical industry.”・Licella Holdings, Ltd.：https://www.licella.com/
