Teijin : JGC Holdings Corporation and ITOCHU Corporation to Establish RePEaT Co., Ltd. to License Polyester Chemical Recycling Technology
December 30, 2022 at 09:14 pm EST
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Teijin, JGC and ITOCHU to Establish RePEaT Co., Ltd. to License Polyester Chemical Recycling Technology
Teijin Limited
JGC Holdings Corporation
ITOCHU Corporation
Tokyo, Japan, December 1, 2022 --- Teijin Limited, JGC Holdings Corporation and ITOCHU Corporation announced that they formally agreed today to establish a joint venture company, RePEaT Co., Ltd., to license technology for the chemical recycling of polyester products.
The new joint venture will use a chemical-recycling technology called dimethyl terephthalate (DMT), which decomposes and converts polyester (PET) and then repolymerizes it. Notably, the DMT method removes dyes and impurities, making it possible to manufacture recycled PET with the same quality as petroleum-derived PET. Teijin has extensive experience in using DMT technology for the commercial production of polyester products including colored textile waste and colored PET waste.
In response to urgent needs to counter global warming, the fiber and textile industry is working on measures, including the establishment of ecosystems for resource recycling, to address issues such as CO2 emissions from manufacturing processes and the mass disposal of used clothing. Currently, disposed textile products are used as a heat source (thermal recovery) or as raw materials for the production of other products (material recycling). Chemical recycling, however, is a revolutionary method that uses chemical decomposition for textile to textile recycling that turns used textile products into new textile raw materials.
After concluding a preliminary agreement in April 2021, the three companies explored commercial opportunities to globally license the technology, utilizing Teijin's DMT expertise and know-how, JGC's general engineering experience and know-how in plant construction, and ITOCHU's global network in the textile industry. In view of the strong global demand envisioned for their licensed technology, the partners have now decided to proceed with establishing a commercial joint venture.
RePEaT will license recycling technology that was first developed by Teijin and then jointly streamlined and packaged by JGC and Teijin. Customers in Japan and other countries are expected to use the technology to launch chemical-recycling businesses for the production of polyester products.
In addition to technology licensing, RePEaT will provide consulting services to help customers establish ecosystems that collect used polyester fiber products for reuse as raw materials, thereby contributing to a more sustainable world through recycling.
Overview of New Joint Venture Company
Name
RePEaT Co., Ltd.
- Global licensing of chemical-recycling technology for reuse of
Business
polyester products as raw materials
- Technology, research, design, technical guidance and
consulting related to the above
Location
Kasumigaseki Common Gate West Tower,
2-1, Kasumigaseki 3-chome,Chiyoda-ku, Tokyo, Japan
Establishment
December 2022 (estimated)
Capital
JPY 100 million (plus capital reserve of JPY 100 million)
Investor and Public Relations Department pr@teijin.co.jp
JGC HOLDINGS CORPORATION
Corporate Communication Group
Akihiro Yamagami / Masayuki Date / Masayuki Okii
Tel.: +81-45-682-8026
ITOCHU Corporation
Corporate Communication Division Anna Furuya furuya-a@itochu.co.jp
Tel.: +81 3 3497 7292
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Teijin Limited published this content on 01 December 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 December 2022 02:13:07 UTC.
Teijin Limited is a diversified group organized around 5 areas of activity:
- manufacturing and distribution of textile products and clothes (37.6% of net sales): textile fibers, polyesters, polymers, etc.;
- production of synthetic fibers (35.5%): aramid, carbon and polyester fibers for industrial applications;
- manufacturing of care and health products (17.8%): medicines (for the treatment of metabolic, cardiovascular, bone, joint and respiratory diseases), and home care equipments (home oxygen therapy equipments and positive pressure fans);
- sale of IT products and services (6.9%);
- other (2.2%).
Net sales break down geographically as follows: Japan (58.6%), China (13.1%), Asia (6.9%), Americas (13.7%) and other (7.7%).