Japanese companies Teijin Limited, JGC Holdings Corporation and ITOCHU Corporation have signed a joint agreement for the licensing business of polyester chemical recycling technology from discarded polyester textile products. The agreement brings together Teijin’s proprietary chemical recycling technology with JGC’s expertise derived from its global engineering business and Itochu’s network in the textile industry.
Teijin operates the world’s first large-scale plant that uses chemical recycling technology to produce polyester from discarded polyester textile products. JGC has developed engineering technologies and has expertise in the oil and gas sector, among others. It is now focusing on building environmentally friendly factories and technologies. Itochu launched the RENU project in 2019 to address the problem of excessive waste in the textile industry and is developing a global market for recycled polyester materials obtained from old clothes and spare fabrics generated during textile manufacturing.
The three companies intend to establish a system for collecting discarded polyester fiber products and a cost-effective chemical recycling technology for using such products as raw materials.