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Brazil’s Braskem (NYSE:BAK) and Thailand petrochemical company SCG Chemicals said Thursday they formed a joint venture to develop a 200K metric tons/year bio-based ethylene plant in Thailand.
Braskem (BAK) and partner Lummus Technology will supply the process technology to produce ethylene from sugarcane-based ethanol, while SCG Chemicals will convert ethylene into bio-based polyethylene, which will be commercialized under the “I’m Green” brand for use in a variety of products including food packaging, toys and trash can liners.
The companies said the bio-ethylene plant would be the first of its kind outside of Brazil and nearly double the existing capacity of “I’m Green” bio-based polyethylene to meet the growing global demand for biopolymers.
The JV is part of Braskem’s (BAK) and SCGC’s targets to produce 1M tons/year of green, or bio-based, products by 2030, replacing fossil feedstocks with renewables, the companies said.
