Shantel
Key Takeaways:
- Econic Technologies, a leading innovator in carbon to value technologies, has entered a collaboration with Monument Chemical, a top-tier specialty chemical manufacturer.
- The partnership marks the first licensing of Econic’s process for manufacturing polycarbonate ether polyols from CO2 by a US company.
- The collaboration will boost sustainability in the polyurethane market, creating high-performance products with a reduced carbon footprint.
About Econic Technologies and Monument Chemical
Founded by Prof. Charlotte Williams at Imperial College London in 2011, Econic Technologies is a UK-based deep-tech firm specializing in the use of carbon dioxide (CO2) as a raw material for manufacturing polymers. Through innovative catalyst and process technology, Econic aims to replace conventional oil-based feedstocks with CO2 to create cost-effective, high-performance end products. Econic operates from Alderley Park and Runcorn, UK, and its breakthrough technology has earned several awards, most recently in the Sustainability sector of ‘Future22’ by Tech Tour, Europe’s largest investor-oriented community.
Headquartered in Indianapolis, Indiana, Monument Chemical serves the specialty chemicals industry, producing a variety of solvents, intermediates, specialty fuels, and other specialty products. The company also offers industry-leading Contract Manufacturing services.
Collaboration Towards Sustainable Growth
In a significant move towards sustainability, Monument Chemical has licensed Econic’s process for manufacturing polycarbonate ether polyols using CO2 as a sustainable source of renewable carbon. Monument will upcycle waste CO2 into polyols for high-performance foams, laminates, coatings, and elastomers. These polyols will be used in various applications, including automotive, furniture, mattress, construction, and industrial sectors. The production based on the Econic process is set to begin in late 2023.
Econic’s groundbreaking technology allows manufacturers to replace up to 30% of the fossil-based components in their polyols with captured CO2 in their existing production plants. The technology offers control over CO2 levels at a molecular level, enabling the production of cost-competitive polyurethane products with superior or equal performance and a smaller carbon footprint.
A Sustainable Milestone
Don Phillips, Vice President and General Manager, Oxides, of Monument Chemical, considers licensing the Econic process as a key milestone in the company’s commitment to providing sustainable solutions to its customers in the US. He stated, “By embracing this groundbreaking technology, we can help our customers deliver higher-performance products with enhanced sustainability that will stand out in the marketplace.”
Econic CEO Keith Wiggins echoed Phillips’ sentiments, emphasizing that the drive towards net-zero emissions is compelling manufacturers to transition to sustainable carbon sources without compromising on performance and cost. Wiggins said, “Monument recognizes that, and we are delighted to be working with them to make this a reality in the US polyurethane market. Our aim is to work with Monument to help sustainably grow their business with Econic’s groundbreaking technology.”
Econic’s technology is rapidly gaining recognition from major consumer brands and supply chains for its ability to produce better, more sustainable polyurethane products using CO2 as a renewable carbon source. This partnership with Monument Chemical underscores Econic’s commitment to addressing climate change and advancing sustainability in the global polyurethane market.
