DIC and Idemitsu Kosan agree to begin consideration for production of biomass polystyrene - Build a new supply chain to reduce CO2 emissions and accelerate the conversion of plastic raw materials to biomass -

DIC Corporation (Head office: Chuo-ku, Tokyo; Representative Director, President and CEO: Kaoru Ino; hereinafter "DIC") and Idemitsu Kosan Co.,Ltd. (Head office: Chiyoda-ku, Tokyo; Representative Director, President and CEO: Shunichi Kito; hereinafter "Idemitsu Kosan") have agreed to begin discussions on establishing a new biomass plastic supply chain and manufacturing biomass polystyrene (hereinafter "biomass PS"). Biomass PS manufacturing is scheduled to begin at DIC's Yokkaichi Plant by the second half of 2023.

In recent years, climate change due to the increase in CO2 emissions has been widely discussed as a global issue. In Japan, too, efforts toward Resources circulation and carbon neutrality are accelerating, with the enforcement of the Act on Promotion of Resources Circulation Related to Plastics and preparations for the introduction of carbon pricing from the 2030s. Both companies recognize that accelerating climate change countermeasures and promoting sustainable, recycled Resources use are management issues, and will now begin considering the production of biomass PS, which has a low environmental impact.

Biomass naphtha is produced from raw materials derived from plants, which are renewable Resources, and therefore can reduce CO2 emissions compared to petroleum-derived naphtha. Styrene monomer ^*1 derived from biomass naphtha (hereinafter "Biomass SM") produced by Idemitsu Kosan has received the international certification "ISCC PLUS Certification" ^*2, which certifies that it is a sustainable product, and the company will supply products that adopt the mass balance method ^*3 based on the certification. DIC plans to obtain "ISCC PLUS Certification" by the second half of 2023 and plans to produce polystyrene ^*4 using biomass SM as a raw material.

Compared to traditional sales schemes, the biomass plastic supply chain requires stronger partnerships throughout the supply chain, from the production of raw material biomass naphtha to the production of biomass PS.
DIC and Idemitsu Kosan have agreed on a basic policy to contribute to the plastics industry's CO2 emissions reduction goals through the newly constructed supply chain. Through this collaboration, we will continue to strengthen collaboration with customers and suppliers and aim to realize carbon neutrality and a recycling-oriented society throughout the supply chain.

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Head office

DIC Building, 3-7-20 Nihonbashi, Chuo-ku, Tokyo

Representative

Representative Director, President and Executive Officer Kaoru Ino

Established

1937 (Founded year: 1908)

Main business

We are recognized as a global leading company that provides packaging materials that are essential to people's lives, display materials such as television and PC displays, and Functional materials used in digital devices such as smartphones and automobiles.

Head office

2-1, Otemachi 1-chome, Chiyoda-ku, Tokyo

Representative

Shunichi Kito, Representative Director, President & Chief Executive Officer

Established

1940（founded in 1911）

Main business

Idemitsu Kosan Co., Ltd. is a global energy company whose main business is oil refining and sales of petroleum & petrochemical products. We commit to the security of a stable energy supply, while transforming into a resilient business entity, answering to an ever changing economic and environmental needs of the society, by expanding the following five business segments both domestically and abroad: Petroleum, Basic Chemicals, Functional Materials, Power & Renewable Energy, and Resources.