TAGS: Sustainability / Natural Solutions
SK picglobal and INEOS Styrolution sign a memorandum of understanding (MOU) giving INEOS Styrolution access to renewable styrene monomer (“SM”) produced from SK picglobal’s SM plant located in Ulsan, South Korea.
This agreement is an extension to INEOS Styrolution’s efforts in creating a circular economy for both polystyrene (PS) and acrylonitrile butadiene styrene (ABS) in Asia. Under this MOU, SK picglobal will produce and supply renewable SM to INEOS Styrolution upon obtaining ISCC PLUS certification, estimated to be within 2023.
Commitment to Achieve Net Zero Emissions by 2050
INEOS Styrolution has committed to saving one million tons of CO
2 emissions by 2030 and selling 500kt of ECO products in 2030; and achieving net zero emissions by 2050.
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This agreement with SK picglobal is the right step to helping INEOS Styrolution achieve those goals and demonstrates our commitment to a sustainable future across all of our market segments,” said Arndt Kotyczka, vice president, Global Styrene Monomer, INEOS Styrolution. “
This renewable SM source will enable us to offer recyclable, sustainable products with the exact same quality and performance that customers have come to expect.”
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We are excited to be working with INEOS Styrolution, a company that shares our vision of getting to a world where nothing is wasted," said Ki Don Won, CEO of SK picglobal. "
Increasingly, customers are demanding sustainable practices across the product supply chain and life cycle. The feedstocks we manufacture reduce waste, offset the need to produce virgin materials and help manufacturers achieve carbon neutral goals as we transition to a circular economy."
Source: INEOS Styrolution