EcoCreation, an eco-friendly pyrolysis technology leader headed by CEO Jeon Beomgeun, announced on November 10 that it signed a "Strategic Memorandum of Understanding (MOU) for Sustainable Business Cooperation Based on Pyrolysis" with Japan's Sumitomo Corporation on September 30.
This agreement is part of a strategic partnership to expand EcoCreation's independently developed pyrolysis technology and plants into the global market. As part of this collaboration, Yutaka Takamura, Head of the Green Chemical SBU at Sumitomo Corporation, visited EcoCreation's headquarters in Incheon to tour the pyrolysis facilities.
The main areas of cooperation include: reviewing the establishment of a joint venture between EcoCreation and Sumitomo Corporation to leverage Sumitomo's global network; researching laws and regulations related to pyrolysis businesses in various countries; and conducting global sales activities for pyrolysis oil, such as customer engagement and sales contract execution.
Accordingly, EcoCreation plans to conduct research and development (R&D) to meet technical standards and licensing requirements in each country, and will actively support technology development and marketing activities for supplying pyrolysis plants and pyrolysis oil.
EcoCreation is a specialized company that manufactures and supplies eco-friendly oilification plants based on waste plastic pyrolysis equipment and pyrolysis oil refining technology. The pyrolysis method involves indirectly decomposing waste plastics in an oxygen-free environment to produce pyrolysis oil as an energy source. This environmentally friendly treatment method is attracting attention for its superior air pollution reduction compared to conventional incineration methods.
In particular, EcoCreation has secured advanced technology that enables sophisticated refining processes such as removing impurities like wax, chlorine, and ink, and separating naphtha, using its proprietary catalysts and refining equipment. The performance and stability of this technology have been verified through pilot projects by the Ministry of Environment, and it has received New Excellent Technology (NET) certification from the Ministry of Environment.
Sumitomo Corporation, the partner in this MOU, is a leading Japanese general trading and investment company that has been conducting global business in diverse industries such as energy, metals, machinery, chemicals, food, distribution, and infrastructure for over 100 years. The company currently operates more than 100 overseas locations in over 60 countries worldwide, boasting an extensive global network.
Through this agreement, both companies plan to further strengthen their collaborative system by combining Sumitomo Corporation's global capabilities with EcoCreation's technical expertise to promote the spread of sustainable energy solutions based on pyrolysis.
Meanwhile, EcoCreation applied for a preliminary review in July to be listed on KOSDAQ through a technology special listing.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
