CJ BIO and NatureWorks have signed a letter of intent (LOI) establishing a strategic alignment between the two organizations and have announced that the two companies are working toward a Master Collaboration Agreement (MCA).
Combining Industry-leading Technologies
The companies will work together to develop sustainable materials solutions based on CJ BIO’s PHACT® Marine Biodegradable Polymers and NatureWorks’ Ingeo™ biomaterials
? technology. The goal of the agreement is to develop high-performance biopolymers that will replace fossil fuel-based plastics in applications ranging from compostable food packaging and food service ware to personal care, and beyond.
Both companies realize the potential to further enhance performance and end-of-use solutions for biopolymers and increase the level of adoption across many new applications. By combining their expertise and technology platforms, NatureWorks
and CJ aim to deliver next generation solutions together. Initial development and collaboration are showing very promising results when using CJ BIO’s unique amorphous PHA in combination with Ingeo biopolymer.
A Symbiotic Relationship
“Plastics are an essential material that improves people’s lives, but their fossil sourcing and after-use impact present a major climate challenge that must be addressed,
” says Seung Jin Lee, head of the biomaterials business at CJ BIO.
“NatureWorks and its Ingeo technology have already helped by bringing to market new material functionality and after-use options. They have extensive product and applications development capability, supporting, for example flexible and rigid packaging that we believe can benefit from our PHACT amorphous PHA technology. I am excited for the opportunity to create new solutions in tandem with NatureWorks that will have a real impact on the challenge plastics pose today, and that will help improve the environment for future generations,
” adds Lee.
According to NatureWorks’ CEO Rich Altice: “The demand for sustainable products continues to grow around the world. For more than 30 years, NatureWorks has participated in the circular economy, developing advanced biomaterials that contribute to a more sustainable future. As we look toward the future, we want to amplify the impact of our Ingeo technology with promising, new bio-based solutions, and we feel that with its PHACT aPHA technology, CJ BIO is an ideal partner to achieve our goal.
NatureWorks and CJ BIO will collect feedback from existing and potential customers across a range of applications and markets including packaging, food serviceware, and organics recycling management to understand the growing need for functional product requirements that also align with sustainability goals.
These collaborations will inform the companies’ product and technology development roadmap. The two companies say that the LOI is the start of what is expected to be a long-term relationship between NatureWorks and CJ BIO and are aiming to sign a master collaboration agreement in the near future.Source: NatureWorks