Clariant says it has reached an agreement with the World Economic Forum (WEF) and major chemical companies to establish a breakthrough development platform by 2023. A new stand-alone entity will operate on a pre-competitive basis and support partners in setting set-up joint projects aimed at sharing early-stage development risks and investing jointly in the development and implementation of low-carbon technologies.
The agreement follows a two-year collaboration between WEF and the founding companies of the LCET initiative, including Air Liquide, BASF, Covestro, Dow, Mitsubishi Chemical Corp., Royal DSM, SABIC, SIBUR and Solvay. The joint venture represents the transition from a knowledge-sharing platform to an implementation tool aimed at accelerating greenhouse gas reductions in the chemical production chain, according to Clariant.
"We are working together in the LCET initiative to jointly address mission-critical technology challenges that cannot be tackled by one company alone," says Martin Vollmer, chief technology officer at Clariant.
The LCET initiative aims not only to promote R&D alliances, but to enable joint ventures or start-ups and reduce investment risks, according to Clariant.
For more information, visit: www.clariant.com
