{"id":97574,"date":"2021-09-24T07:23:00","date_gmt":"2021-09-24T05:23:00","guid":{"rendered":"https:\/\/renewable-carbon.eu\/news\/?p=97574"},"modified":"2021-09-21T12:20:24","modified_gmt":"2021-09-21T10:20:24","slug":"lg-chem-proceeds-with-sustainable-materials-investments","status":"publish","type":"post","link":"https:\/\/renewable-carbon.eu\/news\/lg-chem-proceeds-with-sustainable-materials-investments\/","title":{"rendered":"LG Chem proceeds with sustainable materials investments"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\"><\/h2>\n\n\n\n\n\n<p>South Korea-based chemical company&nbsp;<a href=\"https:\/\/www.lgchem.com\/company\/information-center\/press-release\/news-detail-8650?lang=en_GLOBAL\">LG Chem<\/a>&nbsp;has been making several news headlines within the past few months as the company announced its intention to invest KRW10 trillion ($8.5 billion) in eco-friendly and high-growth materials by 2025. Over 30 projects including M&amp;As, joint ventures, strategic investments focused on ESG-based business portfolio are currently being reviewed according to the company.&nbsp; By the way, ESG stands for Environmental, Social and Governance which are non-financial factors that are increasingly being used by the financial community as part of their analysis process to identify material risks and growth opportunities.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\u201cThe standard for measuring competitiveness in the business world should be based on sustainability for revenue and operating profits, and this should be reflected in all business processes, strategy and investment, etc.\u201d \u2013 CEO Hak Cheol Shin.<\/p><\/blockquote>\n\n\n\n<p>LG Chem selected three new growth engines that will be in accordance with their ESG position:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Sustainability business centered on eco-friendly materials \u2013<\/strong>&nbsp;plans to invest KRW3 trillion in businesses such as bio-materials, recycled materials and renewable energy materials<\/li><li><strong>E-mobility centered on battery materials&nbsp;<\/strong>\u2013 plans to invest KRW6 trillion in portfolio ranging from anode materials, separation membrane, cathode binders, radiant adhesives, carbon nanotube, etc.<\/li><li><strong>Global innovative drugs&nbsp;<\/strong>\u2013 plans to invest KRW1 trillion in 2 or more innovative drugs by 2030 entering markets such as the USA and Europe<\/li><\/ul>\n\n\n\n<p>The Green Chemicals blog and Tecnon Orbichem are, of course, interested in the first two goals.<\/p>\n\n\n\n<p>LG Chem launched a new product brand called LETZero which will integrate the company\u2019s eco-friendly materials such as biodegradable plastics and products made from corn, glucose and glycerine; recycled materials from plastic waste; and other materials from renewable resources.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-embed-handler wp-block-embed-embed-handler wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<div class=\"BorlabsCookie _brlbs-cb-youtube\"><div class=\"_brlbs-content-blocker\"> <div class=\"_brlbs-embed _brlbs-video-youtube\"> <img decoding=\"async\" class=\"_brlbs-thumbnail\" src=\"https:\/\/renewable-carbon.eu\/news\/wp-content\/plugins\/borlabs-cookie\/assets\/images\/cb-no-thumbnail.png\" alt=\"YouTube\"> <div class=\"_brlbs-caption\"> <p>By loading the video, you agree to YouTube&#8217;s privacy policy.<br><a href=\"https:\/\/policies.google.com\/privacy?hl=en&amp;gl=en\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Learn more<\/a><\/p> <p><a class=\"_brlbs-btn _brlbs-icon-play-white\" href=\"#\" data-borlabs-cookie-unblock role=\"button\">Load video<\/a><\/p> <p><label><input type=\"checkbox\" name=\"unblockAll\" value=\"1\" checked> <small>Always unblock YouTube<\/small><\/label><\/p> <\/div> <\/div> <\/div><div class=\"borlabs-hide\" data-borlabs-cookie-type=\"content-blocker\" data-borlabs-cookie-id=\"youtube\"><script type=\"text\/template\">PGlmcmFtZSB0aXRsZT0iTEdDaGVtIExFVFplcm8gYnJhbmQiIHdpZHRoPSI1MDAiIGhlaWdodD0iMjgxIiBzcmM9Imh0dHBzOi8vd3d3LnlvdXR1YmUtbm9jb29raWUuY29tL2VtYmVkL1pSa1dvLUpCUF9zP2ZlYXR1cmU9b2VtYmVkIiBmcmFtZWJvcmRlcj0iMCIgYWxsb3c9ImFjY2VsZXJvbWV0ZXI7IGF1dG9wbGF5OyBjbGlwYm9hcmQtd3JpdGU7IGVuY3J5cHRlZC1tZWRpYTsgZ3lyb3Njb3BlOyBwaWN0dXJlLWluLXBpY3R1cmU7IHdlYi1zaGFyZSIgcmVmZXJyZXJwb2xpY3k9InN0cmljdC1vcmlnaW4td2hlbi1jcm9zcy1vcmlnaW4iIGFsbG93ZnVsbHNjcmVlbj48L2lmcmFtZT4=<\/script><\/div><\/div>\n<\/div><\/figure>\n\n\n\n<p>Here are several recently-announced projects that the blog\/Tecnon OrbiChem have been following:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Full-scale production of superabsorbent polymers (SAP) via the mass balance approach. LG Chem says it has acquired ISCC+ certification for a total of 9 bio-balanced products such as SAP, propylene oxide, polycarbonate, polyethylene, polypropylene, etc. in partnership with Neste.<\/li><li>Full-scale production of the biodegradable polymer PBAT (polybutylene adipate co-terephthalate) in partnership with TK Chemical Corp.<\/li><li>Joint venture on Renewable Diesel production (via HVO) with Dansuk Industrial<\/li><li>Application of chemically-recycled MMA in the production of transparent ABS resins<\/li><li>Production of polylactic acid (PLA) plant in the USA in joint venture partnership with Archer Daniels Midland<\/li><\/ul>\n\n\n\n<p>Tecnon OrbiChem has comprehensively covered the projects for SAP, PBAT, HVO and MMA in our recent&nbsp;<a href=\"https:\/\/www.orbichem.com\/chemical-data-portfolio\/biomaterials\">Bio-Materials reporting<\/a>. The last news on PLA was just announced this week so it was too late for me this month to write my analysis on this project for the Bio-Materials report.<\/p>\n\n\n\n<p>If the LG Chem\/ADM PLA project will push through, this will be the second PLA plant to be built in the USA.&nbsp; According to the&nbsp;<a href=\"https:\/\/www.businesswire.com\/news\/home\/20210914005305\/en\/\">press release<\/a>, an MOU was signed to explore commercial production of lactic acid in the USA which will be used as feedstock to produce PLA, a corn-based compostable plastic.&nbsp; The plan is to launch the JV in early 2022.&nbsp; The PLA plant, location is yet to be disclosed, will have a 75 ktpa capacity which is expected to start operation by 2025.<\/p>\n\n\n\n<p>This will LG Chem\u2019s first venture in the PLA market (as far as I know).<\/p>\n\n\n\n<p>It is interesting that ADM is getting back in the lactic acid market after exiting several years ago. In 2015, Corbion acquired the rest of ADM\u2019s lactic acid business in North America that included sales and delivery of lactic acid, sodium lactate and potassium lactate products. The acquisition, however, did not include ADM\u2019s production facility. Meanwhile, Corbion announced early this year that it is increasing its lactic acid capacity in Blair, Nebraska, by 40%.<\/p>\n\n\n\n<p>It is currently an interesting time for the PLA and lactic acid\/lactide markets with several projects taking place all over the world. Stay tune.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>South Korea-based chemical company&nbsp;LG Chem&nbsp;has been making several news headlines within the past few months as the company announced its intention to invest KRW10 trillion ($8.5 billion) in eco-friendly and high-growth materials by 2025. Over 30 projects including M&amp;As, joint ventures, strategic investments focused on ESG-based business portfolio are currently being reviewed according to the [&#8230;]<\/p>\n","protected":false},"author":59,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_seopress_robots_primary_cat":"none","nova_meta_subtitle":"Full-scale production of superabsorbent polymers, full-scale production of the biodegradable polymer PBAT, joint venture on Renewable Diesel production and a planned production of polylactic acid (PLA) are huge steps forward to a circular economy","footnotes":""},"categories":[5572,17143],"tags":[5838,5847,10408,10453],"supplier":[196,1567,19035],"class_list":["post-97574","post","type-post","status-publish","format-standard","hentry","category-bio-based","category-recycling","tag-bioeconomy","tag-bioplastics","tag-greenchemistry","tag-recycling","supplier-archer-daniels-midland-company-adm","supplier-lg-chem","supplier-tk-chemical"],"_links":{"self":[{"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/posts\/97574","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/users\/59"}],"replies":[{"embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/comments?post=97574"}],"version-history":[{"count":0,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/posts\/97574\/revisions"}],"wp:attachment":[{"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/media?parent=97574"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/categories?post=97574"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/tags?post=97574"},{"taxonomy":"supplier","embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/supplier?post=97574"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}