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Aether Industries has forged a pact with Saudi Aramco Technologies, Saudi Arabia for commercialising the Converge polyols technology, and has executed a letter of intent (LoI) to this effect, as on 29 March, 2023.
The LoI outlines the terms regarding the finalization of a detailed licensing agreement towards the manufacturing and commercialization at Aether of the Converge polyols technology and product series. The manufacturing process has been jointly developed and validated on a pre-commercial scale by both companies, earlier.
The novel technology enables the manufacture of more sustainable polyols with up to 40 percent by weight carbon dioxide. This has applications in the CASE (coatings, adhesives, sealants, elastomers) field, and holds the potential of reducing the carbon footprint compared to industry-standard polyols.
The LoI also captures the next steps such as a potential joint announcement between Saudi Aramco Technologies, Aether, and another partner for the successful validation of the Converge polyol technology in a product application, with further likelihood for a first commercial product launch.
This initial commercialization will pave the way for finding performance-enhancing and sustainable alternatives in the CASE industry.
Aether produces advanced intermediates and active ingredients for pharmaceutical, material science, coating, and oil & gas sectors. |
