Econic Technologies and Monument Chemical announce licensing agreement to develop and grow CO2 based polyurethanes in USA
June 21st, 2023
Monument is thrilled to announce that we are the first US company to license a pioneering process for manufacturing polycarbonate ether (PCE) polyols made from CO2 as a sustainable source of renewable carbon from Econic Technologies, a leading innovator in carbon to value technologies. This new technology will allow us to upcycle waste carbon dioxide into polyols for high-performance foams, laminates, coatings, and elastomers for use in automotive, furniture, mattress, construction, and industrial applications.
Econic's unique catalyst and process means we can replace up to 30 percent of the fossil-based component in our polyols with readily available captured CO2. And this, in turn, allows our customers to produce cost-competitive polyurethane products with equal or higher performance — and a lower carbon footprint! Definitely an impactful win all around — for Monument, our customers, and our industry's increasing commitment to drive sustainable innovations.
Monument will begin production based on the Econic process in late 2023.
Don Phillips, Vice President and General Manager, Oxides, of Monument Chemical, said, "Licensing the Econic process marks a key milestone in Monument's commitment to providing specialty solutions to our customers in the US. By embracing this groundbreaking technology, we can help our customers deliver higher-performance products with enhanced sustainability that will stand out in the marketplace.”
“The world’s drive to net-zero is forcing manufacturers to move to sustainable carbon sources, without compromising performance and cost. 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,” said Econic CEO Keith Wiggins.
The ability of Econic’s technology to make polyurethane products better and more sustainable by using CO2 as a renewable carbon source is being recognized by major consumer brands and their supply chains.
Monument looks forward to supporting our customers in delivering positive change across industries – and to playing a part in making a more sustainable future possible.