BUSINESS

LOTTE CHEMICAL TITAN PARTNERS POLYMATERIA TO PRODUCE BIODEGRADABLE PLASTIC RESIN

10/05/2023 06:05 PM

KUALA LUMPUR, May 10 (Bernama) -- Lotte Chemical Titan Holding Bhd's (LCT) subsidiary Lotte Chemical Titan (M) Sdn Bhd (LCTM) today signed a memorandum of understanding (MoU) with Polymateria Ltd (Polymateria) to jointly develop products incorporating next-generation biodegradable plastic resin.  

LCT president and chief executive officer Park Hyun Chul said at the MoU signing ceremony today that the collaboration is to develope products with Polymateria's biotransformation technology and to commercialise the new biodegradable resin.

"This innovation can support plastic waste management in Malaysia as the government works towards implementing the Plastic Sustainability Roadmap and the National Action Plan for Marine Litter Management," he said.

Park said LCT is taking an active role to reduce environmental impact by developing and commercialising sustainable technologies like Resin+, a solution incorporating Polymateria's technology at the point of resin manufacturing to ensure that plastic is able to biodegrade completely. 

Polymateria CEO Niall Dunne said using biotransformation technology in Lotte's plastic resin to create an end-to-end biodegradable solution would provide unprecedented scalability and is a milestone for the resin industry worldwide.

There is “no creation of microplastics” with plastics returning to nature safely and effectively within two years without any ecotoxicity issues. 

"We look forward to seeing biodegradable products made from biodegradable resin on the customer shelves in Malaysia and the region shortly, underpinned by the sustainability vision of the government," he said. 

The British Standard Institution's (BSI) PAS 9017 standard on biodegradable plastic has also been recognised in the Malaysian Plastic Sustainability Roadmap and the National Action Plan for Marine Litter Policy as a standard to govern biodegradable products.

LCT is Malaysia's first standalone polyolefins producer and one of the largest integrated olefin and polyolefin producers in Malaysia and Southeast Asia. Polymateria is a British technology company developing biodegradable plastic alternatives.

-- BERNAMA


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