(Information sent by the signatory company)
-LD Carbon signed a Memorandum of Understanding with Sumitomo Rubber Industries for the commercialization of recovered carbon black and pyrolysis oil
SEOUL, South Korea, Dec. 13, 2022 /PRNewswire/ -- Raw material recycling and waste treatment company LD Carbon (CEO Baek, Seong-mun and Hwang, Yong-kyung) announced the signing of a memorandum of understanding with "Sumitomo Rubber Industries, Ltd." for the commercialization of sustainable raw materials for tires.
Sumitomo Rubber Industries is a Japan-based global tire manufacturer, ranked No. 5 in the world in terms of sales (approximately $7.25 billion) in the "2022 Global Tire Company Rankings" compiled by tirebusiness.com.
LD Carbon and Sumitomo Rubber Industries held a trade agreement ceremony on November 18, pledging to cooperate in marketing recovered carbon black and pyrolysis oil.
Through this agreement, both companies will jointly develop products so that LD Carbon's GCB (green carbon black) can partially replace existing carbon blacks that use fossil fuels. Based on its proprietary technology, LD Carbon produces Recovered Carbon Black (rCB) from the residue generated from the pyrolysis of used tires and supplies it to tire and rubber product manufacturers.
LD Carbon and Sumitomo Rubber Industries intend to jointly market the GCB-774G and GCB-600 series, with the aim of replacing the current carbon black (N660) between 20% and 70%, respectively. In addition, they plan to promote the commercialization of pyrolysis oil obtained from used tires. The sales volume forecast by the two companies for 2026 is 3,500 tons/year of GCB and 4,000 tons/year of tire pyrolysis oil.
In particular, the commercial agreement (MOU) signed by LD Carbon with Sumitomo Rubber Industries is significant as it is the first commercial agreement signed by LD Carbon with a foreign tire company.
Bum-seek Kim, Sales Director of LD Carbon, stated, "LD Carbon will continue to strive to become a world-leading, environmentally friendly carbon black manufacturer through constant cooperation with tire manufacturers around the world. ".
Meanwhile, LD Carbon is proceeding with the construction of a new plant equipped with crushing, pyrolysis and rCB facilities through an investment of more than 38 million dollars, with the objective of completion by the end of 2023. plants can produce about 20,000 tons of GCB and pyrolysis oil per year. Upon completion, the new LD Carbon plant will be the largest in Asia.
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