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Malaysian chemical company, Lotte Chemical Titan Holding Bhd’s (LCT) unit, Lotte Chemical Titan (M) Sdn Bhd signed a legally non-binding memorandum of understanding (MOU) with British biotech company Polymateria Ltd on Wednesday, 10 May 2023, to produce and commercialize “Resin+,” a biodegradable resin.

The five-year partnership is struck on the principal idea of better serving the climate by minimizing the environmental impact of the business operations and providing sustainable solutions for customers, according to LCT President and Chief Executive Officer Park Hyun Chul.

As the leaders of polyolefins production in Southeast Asia, LCT has taken the onus on themselves to protect the environment and offer sustainable alternatives to better conduct the business as well as aid the recovery of climate issues starting with the reduction of carbon footprint.

LCT said that the integration of this specialty resin into the existing polyolefin production required no changes in processes or inputs. The new material – Resin+ will be introduced to the market soon, though, no exact timeline was given.

Easing the agreement process is the fact that the British Standards Institution’s BSI PAS 9017 standard on biodegradable plastics is recognized in the Malaysia Plastics and Sustainability Roadmap and National Marine Litter Policy and Action Plan.

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Malaysia