GS Caltex has teamed up with LG Chem to build a white bio ecosystem and verification plant for the commercialization of eco-friendly bio raw materials.
Both sides held a ground-breaking ceremony for a verification plant to produce 3-Hydroxypropionic acid (3HP) at GS Caltex’s plant in Yeosu on July 28.
Among those on hand at the event were GS Caltex President Hur Sae-hong, LG Chem Vice Chairman Shin Hak-cheol, Yeosu Mayor Chung Ki-myung and R&D researchers of both sides.
3HP is a bio raw material produced through an eco-friendly fermentation process. It is used for the production of bio raw materials, such as acrylic acid, acrylonitrile and biodegradable materials.
Its application and extendibility is greater with the scope of its uses ranging from personal hygienic items to materials for lightening EVs.
Both companies struck a joint development agreement on the development of technologies to mass produce 3HP and producing prototypes last November.
GS Caltex and LG Chem plan to build 3HP verification plant at GS Caltex plant in Yeosu by 2023 and produce prototypes.
Going further, both sides plan to accelerate efforts to enter the market of biodegradable materials and diverse bio plastics in earnest through commercialization.
Building a verification plant takes on significance since both companies embark on the value-added, eco-friendly biochemical business through synergetic effects of GS Caltex’s process technologies and LG Chem’s propriety fermented technology. Globally, attempts to develop 3HP technologies had made and but could not commercialize them.
On the same day, GS Caltex and LG Chem signed an MOU on the development of technologies related to 1,4-Butanediol, an eco-friendly raw material for producing biodegradable materials and polyurethane on top of 3HP.
The two companies agreed to collaborate in overall areas of the white bio sector down the road and discuss ways of realizing the sustainable bio ecosystem.
GS Caltex President Hur Sae-hong and Yeosu Mayor Chung Ki-myung look around GS Caltex’s plant in Yeosu after they signed an MOU.
Meanwhile, Yeosu City, GS Caltex and LG Chem reached a tripartite MOU on the development of the Korean white bio industry, carbon neutrality and a circulating economy.
Under the deal, Yeosu City agreed to do not spare efforts to provide its administrative support to the verification project. Both companies decided to consider Yeosu as a preferred site of a new plant in the case of future commercialization.
GS Caltex Hur said, “Today is a significant day for the white bio business at the Yeosu National Industrial Complex to make a first step.”
GS Caltex will endeavor to build resources efficiency and a circulating economy to ramp up ESG capabilities through R&D in the white bio sector to realize the sustainable bio ecosystem, he added.
LG Chem CEO Shin said, “The fact that the two companies that are leaders in the oil refinery and chemical industry are cooperating to develop and commercialize sustainable new materials is quite significant.”
“By focusing on R&D in the eco-friendly materials sector, we will lead future technologies that can protect the environment and society,” he said.
Meanwhile, GS Caltex declared a vision of becoming a honorable energy and chemical company with the industry’s top competitiveness, as President Hur took office in 2019.
The vision calls for making all processes and their outcomes worthwhile, by putting into practice all processes ranging from daily duties to overall management activities.
Behind activities to become an honorable company lie eco-friendliness management.
GS Caltex is developing and producing eco-friendly products in the bio sector to join in a circulating economy and resources efficiency initiatives.
The company is producing and selling non-GMO biomass and 2,3-BOD by developing eco-friendly production processes.
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