TOKYO, July 14, 2020 - (JCN Newswire) - We, University of Toyama, Chiyoda Corporation, Nippon Steel Engineering Co., Ltd., Nippon Steel Corporation, HighChem Company Limited, and Mitsubishi Corporation (hereinafter collectively referred to as the "Group") are pleased to announce that the Group has jointly applied for and been selected by NEDO(1) for "Development of Technologies for Carbon Recycling and Next-Generation Thermal Power Generation / Development of Technologies for CO2 Reduction and Utilization / Development of Technologies for CO2 Utilization for Chemicals."
In order to cope with global climate change, it is necessary to address the issue of CO2 emissions from factories, power plants, and various emission sources while pursuing all possible technological options including carbon recycling technologies. "Roadmap for Carbon Recycling Technologies" formulated by METI(2) in June 2019 sets forth guidelines for utilization of carbon recycling technologies for separating and collecting CO2 as resources and reusing it in the form of diverse carbon compounds for chemical materials or fuels.
Against this backdrop, NEDO has launched a development project for the world's most advanced technology for industrial para-xylene(3) production from CO2 to substitute existing fossil fuel-derived chemicals, and the Group has been selected as contractors for this commissioned project. Para-xylene is a particularly important basic compound in the production of PTA(4) which is a feedstock material for polyesters such as polyester fibers and plastic bottles. Due to its composition, it can be produced with a relatively small amount of hydrogen while fixing a large amount of CO2, compared to other compounds from carbon recycling. This is a theme with great potential from both economic and environmental perspectives.
The global demand for para-xylene is approximately 49 million tons per year. Assuming that the feedstock for para-xylene of the current demand level is entirely converted from fossil fuels to CO2, theoretically 160 million tons of CO2 could be fixed in the para-xylene per year.
In this project, the Group will improve the innovative catalyst for the production of para-xylene from CO2, develop a way to mass-produce the catalyst, and develop the process while studying its feasibility including its overall economic efficiency and CO2 reduction effect in order to pave the way to the demonstration stage.
Description of the Project
Project Name: Technology Development for Para-xylene Production from CO2
1. Improvement of performance of the catalyst and extension of its lifetime.
2. Development of a mass production method for the catalyst
3. Development of the process and design
4. Feasibility study including economic evaluation, amount of CO2 reduction, and market research
- University of Toyama (for Scope-1)
- Chiyoda Corporation (for Scope-3)
- Nippon Steel Engineering Co., Ltd. (for Scope-3) Nippon Steel Corporation (for Scope-1 and Scope-3)
- HighChem Company Limited (for Scope-1 and Scope-2)
- Mitsubishi Corporation (for Scope-4)
Duration: Fiscal year 2020 to 2023
Contract Price: 1.99 Billion JPY
(1) NEDO: the New Energy and Industrial Technology Development Organization
(2) METI: Ministry of Economy, Trade and Industry
(3) Para-xylene: An aromatic hydrocarbon, one of three isomers of dimethyl-benzene known as xylenes, having the same
chemical formula C8H10. Para-xylene is used to produce PET(polyethylene terephthalate) and polyester.
(4) PTA: Pure Terephthalic Acid (C8H6O4), produced by catalytic oxidization of para-xylene, known as one of the raw materials
for PET (polyethylene terephthalate) and polyester.
About Mitsubishi Corporation
Mitsubishi Corporation, headquartered in Tokyo, is a global integrated business enterprise that develops and operates business across virtually every industry including industrial finance, energy, metals, machinery, chemicals, foods, and environmental business. Mitsubishi Corporation's current activities are expanding far beyond its traditional trading operations as its diverse business ranges from natural resources development to investment in retail business, infrastructure, financial products and manufacturing of industrial goods.
For more information on Mitsubishi Corporation, please visit the company's website at https://www.mitsubishicorp.com/jp/en/.
July 14, 2020 08:51 HKT/SGT
Source: Mitsubishi Corporation
Mitsubishi Corporation (TSE: 8058)
Topic: Press release summary
Sectors: Energy, Engineering
From the Asia Corporate News Network
Copyright © 2020 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
|Nov 24, 2020 13:15 HKT/SGT|
Mitsubishi Corporation Signs Contract with Egyptian Government for Phase 1 of Cairo Metro Line 4|
|Oct 30, 2020 23:10 HKT/SGT|
Hitachi Rail and Mitsubishi Corp to Deliver Metro de Panama Line 3 worth JPY 92.0 Billion|
|Oct 28, 2020 09:30 HKT/SGT|
Trials of Jointly Developed Compact LNG Filling System to Commence in Hokkaido|
|Oct 27, 2020 11:25 HKT/SGT|
Mitsubishi Corporation: Cross-Industry Investment by Seven Enterprises in New TradeWaltz Platform|
|Oct 1, 2020 09:09 HKT/SGT|
MC Commences Feasibility Study on Biometric Authentication Platform in Turkey|
|Sept 23, 2020 15:00 HKT/SGT|
Mitsubishi Corporation: Use of CO2 in Concrete / Partnership with Blue Planet Systems Corporation|
|Sept 15, 2020 08:41 HKT/SGT|
Mitsubishi Corporation and Surbana Jurong Joint Venture to Form Partnership with SinarMas Land to Advance Smart, Sustainable Transit-Oriented Developments in Indonesia|
|Aug 13, 2020 14:33 HKT/SGT|
Mitsubishi Corporation Releases Financial Results for the Three Months Ended June 2020 |
|Aug 11, 2020 08:07 HKT/SGT|
Mitsubishi Corporation: Commercial Operations Commence at Cameron LNG|
|Aug 6, 2020 12:36 HKT/SGT|
Mitsubishi Corporation: Trials of "KnowRoute", AI-Controlled On-Demand Bus Service to Commence in Shiojiri City, Nagano Prefecture|
|More news >>|