Industry News

Lotte Chemical Looking to Commercialize Carbon Capture Technology by 2023

Lotte Chemical has become the first Korean petrochemical company to launch a project to develop carbon dioxide capture and utilization technology (CCU) using gas separation membranes. The move is aimed at responding to regulations on greenhouse gas emissions and reducing the cost of purchasing carbon emission rights.

Lotte Chemical announced that it installed a CCU verification facility that uses gas separation membranes at its first plant in Yeosu, South Korea in March 2021. The company aims to complete commercialization facilities by 2023 after collecting and analyzing data and evaluating NOx effects.

After commercialization, the company plans to collect more than 60,000 tons of carbon dioxide a year, use it as a production material for polycarbonate products, and make dry ice and raw materials for semiconductor cleaning liquid and sell them to nearby small and medium-sized chemical companies. It will also introduce related facilities to its Daesan Plant and Ulsan Plant in the future and utilize more than 200,000 tons of carbon dioxide annually.

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