Case Study: Econic Technologies and Monument Chemical joined forces to reduce the carbon footprint in everyday products by over 20%
25 April 2024
Imagine a world where waste carbon dioxide (CO2) can be utilized to create materials that we currently produce using fossil fuels. Now, imagine if these materials not only outperform their predecessors but also revolutionize the way we manufacture millions of products that we use daily all around the world. It’s a world where sustainability and innovation go hand in hand. Pioneering British company Econic has found a way to do just that, and Monument Chemical is embracing the technology to offer high performance, sustainable products to its customers.
“Leaders across the manufacturing industry recognize the need for a more sustainable, circular economy, but work in material supply chains that demand performance” Econic co-founder and CTO, Dr. Mike Kember says.
To address this, Econic developed a process to convert waste CO2 into polymers, a material found in a variety of everyday products such as mattresses, sofas, car interiors, paints, shoe soles, and insulation.
Synthetic polymers use petrochemicals, which currently account for around 12% of global oil use. With demand for fossil fuel-based materials such as plastics still growing, finding sustainable alternatives is an urgent challenge. Plastics contribute around 3.4% of global greenhouse gas emissions throughout their lifecycle, and by 2050, plastic production and incineration could emit 2.8 gigatons of CO2 per year. Partnerships like Econic’s with Monument Chemical show that fossil-fuel-free alternatives are available.
“By replacing petrochemicals with upcycled carbon from CO2, Econic’s process reduces carbon footprints by over 20%. But it’s not just more sustainable, the technology is enabling higher performing products”
commented Don Phillips, Vice President and General Manager, Oxides, Monument Chemical.
“By embracing this groundbreaking technology, we can help our customers stand out in the marketplace”
he continued. Having seen the potential, Monument signed a licensing agreement with Econic and will begin upcycling waste carbon dioxide from 2024, creating products including foams, laminates, coatings, and elastomers. The innovative products will help Monument’s automotive, furniture, mattress, construction, and industrial clients lower carbon, and optimize performance across different applications.
“We welcome Monument’s vision for sustainable carbon” said Econic’s CSO, Charlotte Williams. “By recognizing the opportunity to upgrade core components of commonly manufactured products, they are demonstrating to the wider market an achievable, improved future for manufacturing”.
Bill Gates and UK Prime Minister Rishi Sunak with the Econic team at the Cleantech for UK coalition
CO2 polymers are registering outstanding test results, and multiple research projects are exploring broader applications; including a UK Government funded initiative trialing use in household cleaning products.
When tested in premium mattresses, CO2 polymer memory foams performed as well as or better than standard viscoelastic foams, and gave manufacturers increased ability to finetune mattress characteristics for a dreamy night’s rest. The results were so successful Econic was shortlisted for Material Innovation category and won the Sustainability Initiative award at the leading polyurethane industry event, UTECH Europe.
Econic’s advanced technology converts CO2 into high-performance products, which are both cost-effective and made from renewable carbon.
This process involves transforming carbon emissions into ingredients that can replace oil-based materials in a variety of everyday products such as cars, clothing, construction materials, mattresses, and more.
Geographic coverage and applicability
Headquarters and manufacturing: UK. Focus: Econic’s initial focus was integrating CO2 into polyols for polyurethane products such as automotive seats, apparel, furniture, mattresses, and insulation. The company is now developing CO2-based surfactants for cleaning, home, personal care, and industrial uses.
Customer benefits and value
- Transform waste CO2 into valuable materials
- Reduce carbon footprint by up to 30%
- Easily incorporate into existing supply chains
- Energy efficient process that is cost-competitive with Incumbent technologies
- Improved cost-effective product performance versus existing systems
Awards/ Certification/Compliance
- Global Cleantech 100
- CEMEX Ventures’ Top Contech Start-Up
- UTECH Europe Awards 2024 Sustainability Initiative winner
- Future22 by Tech Tour Sustainability winner
Key Customers
Leadership:
Keith Higgins
Website:
www.econic-technologies.com
Contact person:
Liz Manning (UK)
l.manning@econic-technologies.com
“Our process has similar energy requirements as standard production methods, meaning suppliers can keep capital costs low compared to projects that might require a brand-new build ” explained Econic’s Dr Kember. “When you see what a straightforward replacement sustainable carbon is for petrochemicals, and scale that across cars, clothes, construction, mattresses and so many more supply chains using polymers, the potential impact becomes really clear”.
The multi-prize-winning company was recently named sustainability winner in the ‘Future22’ by Tech Tour, Europe’s largest investor-oriented community, and is going global with Econic process licenses already issued to polyol manufacturers in India, the US and China. Following the trail blazing partnership with Monument Chemical, Econic CEO Keith Wiggins sees a bright future for carbon utilization.
“Our mission is to shape a better future; industry partnerships like our work with Monument, government research programmes, and even high-profile public initiatives like the Planet vs Plastics Earth Day 2024 are all helping emphasize how important and achievable it is to replace petrochemicals, improving performance and sustainability in products used by billions of people, every day”.
Keith Wiggins, CEO, Econic Technologies
