Press release
- TBM
TBM, which develops LIMEX, a new material that can replace plastic and paper, has agreed to a capital and business alliance of 13.5 billion yen with South Korea's SK Group.
～Product sales through global sales channels, agreement to establish joint venture for biodegradable LIMEX～
TBM Co., Ltd., Ltd. (Headquarters: Chuo-ku, Tokyo, CEO: Nobuyoshi Yamasaki, hereinafter referred to as TBM) aims to be the best company in the ESG field, expanding globally while focusing on petroleum refining, petrochemicals, telecommunications and semiconductor businesses. SK Japan Investment Inc. (head office: Tokyo, CEO: Hyunho Son), jointly invested by four companies of the SK Group (SK Inc., SKC, SK Materials, SK Siltron), a major Korean conglomerate We are pleased to inform you that we have agreed to a yen capital tie-up. TBM will be the first investment destination for SK Japan Investment Inc. In addition, TBM will work with SKC (Headquarters: Seoul, South Korea, CEO: Wan Jae Lee, hereinafter referred to as SKC), a major chemical material company of the SK Group, TBM's material design technology that highly fills resin with calcium carbonate, and biodegradation manufactured by the SK Group. have concluded an agreement to establish a joint venture (JV) to promote the development and commercialization of biodegradable LIMEX that combines biodegradable plastic (PBAT).
This partnership aims to accelerate the realization of the goal of becoming the best company in the ESG field by collaborating with TBM, which develops and manufactures the new sustainable material LIMEX, for the SK Group. Based on this alliance, TBM will strengthen the LIMEX production system through supply chain cooperation with the SK Group, and utilize the SK Group's sales channels to produce LIMEX Pellet and LIMEX pellets that meet the needs of the SK Group and its customers. We will promote the development of applications for LIMEX Sheet. In addition, we will sell TBM products to South Korea and the rest of the world, and respond to the global plastic problem and the needs of environmental materials that differ depending on the region.
Background/Summary
Environmental issues such as climate change, resource depletion, and water resource crises are progressing rapidly around the world, and it is imperative that we respond to them not only at the national level but also at the corporate level. In particular, each country has its own regulations regarding plastics, and 127 countries1, including Japan, have banned or restricted the use of plastic bags. On the other hand, due to population growth and economic growth in emerging countries, the global plastic resin market size is expected to grow at a CAGR of 4.5% from 2020 to 2027, reaching $522.5 billion by 20272. . China is actively promoting the introduction of biodegradable plastics amid growing demand for alternative materials to plastics. By 2030, the size of the biodegradable plastics market in China will grow approximately seven times (approximately 1.4 trillion yen) 3.
Since its establishment in 2011, TBM has been developing materials for LIMEX, which uses inorganic substances such as calcium carbonate as the main raw material. LIMEX has been highly evaluated for its contribution to climate change countermeasures through resource conservation and CO2 emission control, and has been introduced at COP and G20 international conferences. increase. Currently, it is possible to produce materials not only at our own factory but also at fabless, and we are building an overseas production system and supply chain. In Japan, more than 6,000 companies and local governments have introduced products using LIMEX as an alternative material to plastics and paper.
The SK Group, the third largest conglomerate in South Korea and centered on petroleum refining and telecommunications, is currently using biotechnology and renewable energy as growth drivers, and aims to become a leading company in the ESG field by rebuilding its business portfolio. I'm here. The SK Group, which leads ESG management by becoming the first Korean company to join "RE100 4" last year, has set up a management strategy that uses the environmental regulations of each country as new opportunities for growth.
1UNEP｜2 Report Ocean｜3China Association of Circular Economy
4An international consortium of companies that are working to ensure that 100% of the electricity they use is generated from renewable energy.
Overview
TBM and SK Group have agreed to enter into a capital and business alliance and will collaborate in the following areas:
1. Sales of TBM products in Korea and globally, utilizing SK Group's global sales channels
2. Developing LIMEX applications that meet the needs of the SK Group and its customers
3. Commercialization of a joint venture to develop, manufacture, and sell biodegradable LIMEX using biodegradable plastic (PBAT) manufactured by the SK Group
TBM and SKC have signed an agreement to establish a joint venture to jointly promote the exclusive development and commercialization of biodegradable LIMEX using SK Group's biodegradable plastic (PBAT). While high cost has been one of the main reasons biodegradable plastics have not been widely adopted to date, biodegradable LIMEX is price-competitive and has the potential to be widely adopted in the market. Furthermore, calcium carbonate, the primary raw material for LIMEX, is abundant, has a low risk of depletion, and has a stable supply. Therefore, it is significantly cheaper than petroleum-based plastics and biodegradable plastic raw materials, and its low risk of depletion contributes to its price stability. By utilizing TBM's material design technology for highly loaded calcium carbonate resins and SKC's high-strength biodegradable plastic (PBAT), it will be possible to develop biodegradable LIMEX that is price-competitive compared to conventional biodegradable plastics, while also offering heat and impact resistance.
Comment from TBM CEO Nobuyoshi Yamasaki
We are extremely honored to be able to strategically collaborate in the ESG field as a partner with the SK Group, which aims to be the best ESG company. This capital and business alliance with the SK Group, which is experiencing rapid growth globally, including in Southeast Asia, and the establishment of the JV with SKC will accelerate the global expansion of LIMEX and accelerate the development of new materials and applications, including biodegradable LIMEX, as well as efforts to contribute to the creation of Decarbonization society and a circular economy around the world. TBM will continue to strive to become a global top player in the sustainability field.
Comment from Son Hyun-ho, CEO of SK Japan Investment Inc.
The fact that SK Japan Investment Inc. has invested in TBM for the first time is extremely significant in terms of demonstrating the SK Group's willingness to actively promote ESG management. Through this partnership, we will not only invest in TBM, which develops environmentally friendly materials, but also cooperate with group companies on business, such as joint development of biodegradable LIMEX by SKC and TBM. We are confident that the growth of our eco-friendly business will accelerate. Going forward, SK Japan Investment Inc. plans to continue discovering investment opportunities in the ESG area.