In Finland, local firm UPM and Korean company Dongsung Chemical announced a partnership with the aim of accelerating the introduction of renewable, sustainable forest-sourced materials into the Asian market.
Under the terms of the agreement, Dongsung Chemical and UPM Biochemicals will develop renewable products using bio-based raw materials, initially for footwear materials. Dongsung Chemical has signed a Letter of Intent for this partnership to develop a renewable polyurethane product based on UPM Biochemicals’ biobased mono-ethylene glycols (MEG), UPM BioPura.
Through this partnership, the two firms will cooperate in the development of eco-friendly products using Bio-MEG, targeting the textile and footwear industries across Asia.
UPM said it investing $ 760 million to build a biorefinery at Leuna in Saxony-Anhalt, Germany, to convert certified woody biomass into next generation biochemicals.
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Category: Chemicals & Materials, Fuels
