Lotte Chemical Titan and Polymateria to develop biodegradable tech in Malaysia

Lotte Chemical Titan and Polymateria to develop biodegradable tech in Malaysia

11 May 2023

Lotte Chemical Titan Holding Bhd’s subsidiary, Lotte Chemical Titan (M) Sdn Bhd (LCTM), has signed a non-binding memorandum of understanding (MoU) with Polymateria Ltd to collaborate on the development of biodegradable products in Malaysia.

The two companies aim to use Polymateria’s proprietary technology, Biotransformation, to develop environmentally sustainable plastic solutions and address plastic waste management issues in Malaysia.

The MoU covers the development of a new biodegradable resin using Biotransformation Technology and the promotion of environmentally sustainable biodegradable plastic solutions.

LCTM’s president & CEO Park Hyun Chul said the MoU is part of the company’s efforts to reduce environmental impact and provide customers with more sustainable options.

Meanwhile, Polymateria’s CEO, Niall Dunne, said the company is looking forward to working closely together to support Malaysia’s journey in tackling unmanaged plastic waste.

“Deploying our biotransformation technology in plastic resin gives it unprecedented scalability as we address the global plastic pollution challenge,” he said.

Source: The Malaysian Reserve