Econic, GC and allnex Partner to Advance Coatings
Image courtesy of Econic.
From left to right: Dr. Kamel Ramdani, executive vice president, Innovation, GC; and Keith Wiggins, CEO, Econic.
Econic Technologies, a deep tech company specializing in renewable carbon, has signed a Memorandum of Understanding (MOU) with PTT Global Chemical Public Company Limited (GC) and allnex. GC is Thailand’s largest integrated petrochemical and refining business, while allnex, based in Germany, is a global leader in industrial coating resins and additives. The collaboration will focus on advancing polymer systems and processes for coatings derived from captured carbon.
Through the integration of Econic’s technologies, GC and allnex aim to reduce the environmental impact of their operations and promote eco-friendly polymer products. Econic’s technologies can reduce the carbon footprint of some products by 30% or more and have the potential to enhance coating performance by improving durability, corrosion resistance, and aesthetic properties.
“This MOU with GC and allnex is a pivotal step in our mission to create sustainable and high-performance polymer solutions,” said Keith Wiggins, CEO of Econic. “By combining our renewable carbon technology with their extensive expertise in coatings, we are poised to drive significant advancements in polymer science that align with global sustainability goals.”
“GC is committed to fostering sustainability and innovation in our business portfolio,” said Dr. Kamel Ramdani, Executive Vice President - Innovation, GC. “We look forward to working with Econic to develop advanced, eco-friendly systems that serve our customers and GC’s sustainability goals. Through our corporate venture capital arm, GC can offer expertise, experience, and connections to support successful go-to-market strategies.”
“We are excited to partner with Econic to explore cutting-edge technologies that support our commitment to sustainability,” said Dr. Benoit DeBecker, Senior VP Corporate Development & Innovation, allnex. “This MOU will enable us to develop innovative solutions that not only meet the evolving needs of our customers but also contribute to a more sustainable future.”
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