Manali Petro executes agreement with UK’s Econic Technologies

CHENNAI: Manali Petrochemicals Limited (MPL), integrated manufacturer of polyols and a part of the AM International group, on Tuesday announced the execution of the long-form agreement with UK-based based Econic Technologies.

Last year, the companies entered a Memorandum of Understanding (MoU) to introduce more environment-friendly, CO2-containing polyols into the global $28 billion global polyols market.

The signing of the longform sets the stage for the initiation of the MPL-Econic partnership. It will comprise a two-year demo scaleup at the 1,300 ltr reactor at the MPL plant 1. The following three years will be spent on industrial scale-up of the technology of MPL’s 12,000+ reactors and commercialisation of CO2-containing polyols by the company.

Ashwin Muthiah, Chairman, MPL and Founder-Chairman, AM International Holdings, said, “Science and innovation will play a key role in ensuring our manufacturing plants implement eco-friendly and cost-efficient technology. The partnership brings significant R&D-led improvements to the production process. Alongside delivering a greener product to our customers, it reaffirms our ESG commitment towards a carbon neutral planet.”