Cosmetics platform company CTK announced on the 21st that its subsidiary CTK Bio Canada has been selected as a final participating company in a project following up on the 'Zero Waste City 2040 Strategy' initiative currently being promoted by the City of Vancouver, Canada.
The project aims to reduce waste emissions to zero by 2040 in the Vancouver area, which produces over 3.5 million tons of waste annually. Originally, the Vancouver area planned to use landfill sites until 2037, but due to the faster-than-expected depletion of landfill capacity, it decided to implement one of the most proactive measures among major cities worldwide.
The project’s first phase involves selecting 10 CleanTech-related companies, including CTK Bio Canada, as tenants and installing small-scale research and production facilities for participating companies on designated city-owned land called 'ZWDS' within the urban area. Various verification procedures will be conducted over two years from next month until August 2025.
Support for various facilities and production will be provided by the Canadian government. The 10 CleanTech companies consist of businesses in diverse fields such as glass waste treatment, waste management, recycling, recycled clothing, and consulting. CTK Bio Canada is the only company that develops eco-friendly materials, uses them in products, and conducts demonstrations together with the Canadian government.
JK Park, CEO of CTK Bio Canada, said, "The eco-friendly materials we produce and the final products made from them can replace conventional plastics. They do not contain PLA components, which are associated with the GreenWashing problem, and decompose quickly in the natural environment after being discarded in daily life."
He added, "We were selected due to our outstanding expertise and innovative ideas in eco-friendly material technology. Through this project, CTK Bio Canada’s technological value will be recognized not only by the government but also by potential customers, investors, and strategic partners, laying the groundwork for large-scale commercialization of eco-friendly materials."
Using various natural wastes such as food waste discarded in the City of Vancouver, CTK Bio Canada will additionally install facilities within the project complex to produce various forms of eco-friendly materials (Resin) and disposable products, which will be supplied to tenant companies and the government.
These products will undergo various verification stages, including ease of use and biodegradability in natural conditions as well as microplastic detection upon disposal. Essentially, waste that would otherwise be discarded is processed into eco-friendly materials and provided to citizens as biodegradable products. This establishes a virtuous ecological cycle where products return 100% to nature after use.
CTK Bio Canada will also attend 'ReThink HK,' a sustainable business conference and exhibition held in Hong Kong on the 14th of next month, together with the Canadian government. They will conduct joint promotions targeting overseas companies. Separately from their collaboration with the Canadian government to realize Vancouver’s vision of a sustainable future city, CTK Bio Canada is conducting technical consultations with about 10 companies in the North American region for supplying eco-friendly materials and customized finished products.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
