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Shin Hak-cheol (left), the company's vice chairman, and GS Caltex President Heo Se-hong at a memorandum of understanding signing ceremony for the companies' 3HP collaboration project. (Yonhap) |
LG Chem Ltd. and GS Caltex Corp. plan to produce a prototype of a material for biodegradable plastics next year, as they step up cooperation for the development of the eco-friendly raw material, the companies said Friday.
LG Chem and GS Caltex signed an agreement in 2021 to develop technology for the production of the material called 3-Hydroxypropionic Acid (3HP). Plastic made from 3HP can be used to replace various disposable materials.
In July of last year, they started construction on a plant at the GS Caltex Yeosu refinery.
The two companies recently completed building the plant and they aim to produce a prototype of the material in the first quarter of next year.
There has been no commercial product of the material, but LG Chem and GS Caltex said they would be able to present the world's first commercialization of 3HP. (Yonhap)
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