Korea's HD Modern Chemistry, in partnership with CJ CheilJedang Corp. will produce environmentally friendly bio-naphtha and plastic products.
The partnership has been firmly established in the form of a memorandum of understanding. Under the agreement, HD Hyundai Chemical (HD Hyundai Modern) will obtain bio-raw materials, including soybean oil and waste cooking oil, from CJ CheilJedang for the manufacture of up to 12,000 tons of environmentally friendly plastics.
After in-depth negotiations, the two companies have signed a commercial cooperation agreement to jointly build an ecologically conscious bio-cycle system at HD Modernization's headquarters in Oyama City, southern Nakagawa Province. This system will ensure a stable supply of bio-feedstock for HD Modernization, which will be used to produce bio-naphtha.
The eco-friendly plastic produced from this bio-naphtha will then be returned to be supplied to CJ CheilJedang for use in its production of household lunch boxes and packaging materials. It is worth noting that this eco-friendly plastic is actually a cyclic olefin polymer.
HD Hyundai Chemical initially plans to use 400 tons of bio-based raw materials for the production of eco-friendly plastics and expects to achieve the ambitious goal of producing 12,000 tons by the end of the year.
Remarkably, this effort has not only yielded significant results, but has also been recognized by the International Sustainability and Carbon Certification (ISCC) for the entire process, from the sourcing of bio-based raw materials to the production of bio-naphtha and plastic products.
This milestone reinforces both companies' commitment to environmental sustainability, and the ISCC certification is international recognition of their environmental practices.
