SKC said on Thursday that it has formed a joint venture with Japan’s TBM that will produce biodegradable plastic.
The venture, called SK TBM Geostone, will manufacture that SKC calls biodegradable LIMEX, starting in 2023.
LIMEX is a mixture of polylactic acid (PLA) and polybutylene adipate-co-terephthalate (PBAT) resin.
SKC said the material can be used to replace various conventional plastics.
Biodegradable LIMEX combines TBM’s existing LIMEX technology with SKC’s biodegradable material technology, the South Korean company said.
Over 50% of limestone is mixed within LIMEX and little plastic is used during their production, SKC claimed.
The joint venture aims to offer biodegradable LIMEX for use in disposables, packaging as well as industrial use in buildings and cars.
SKC also stressed that there were many reserves of limestone that allows it to produce the plastic at a cheaper rate than most competing products.
As biodegradable plastics are currently two to three times more expensive than regular plastics, this price competitiveness will help the company expand the business, it said.