03 August 2023
Sumitomo Riko, Sumitomo Rubber, and Sumitomo Electric to Collaborate with US Carbon Recycling Firm LanzaTech to Accelerate Circular Economy: Joint Venture to Focus on Developing Waste Recycling Solutions
We are pleased to collaborate with Sumitomo Rubber Industries, Ltd. and Sumitomo Riko Company Limited to develop recycling technologies, paving the way for a circular economy.
In November 2022, Sumitomo Riko announced a joint development agreement with LanzaTech Global, Inc. (‟LanzaTech”; Nasdaq: LNZA), a US-based carbon recycling firm known for its expertise in carbon capture and utilization (CCU) technology. Along with Sumitomo Rubber, we will be taking part in this joint development. The three companies will collaborate with LanzaTech on the joint development, aiming to pioneer groundbreaking technologies that enable a circular economy, transforming waste materials, including rubber, resin, urethane, and metal, into valuable resources.
The Sumitomo Electric Group "2030 VISION" calls for company-wide efforts to promote carbon-free and other businesses in order to achieve a "Green Society.” Additionally, the Mid-term Management Plan 2025 promotes initiatives to realize a circular economy. To date, we have promoted activities to collect used products and recycle them as raw materials.
This time around, we are taking another step forward to accomplish a circular economy for raw materials. Together with Sumitomo Riko and Sumitomo Rubber, we are pushing ahead with the development of new technologies in collaboration with LanzaTech. We aim to leverage LanzaTech’s biorecycling technology to turn waste materials, such as tires and resins, into isoprene, which can be used as new rubber materials.
This will be achieved by gasifying the waste materials and purifying the resulting gas, and then putting them through a fermentation process that transforms the gas into new raw materials. Our ultimate goal is to work with raw material producers to explore the feasibility of establishing a recycling technology that enables the reuse of isoprene as materials for rubber and resin. Since we manufacture number of products made of resin and metal, such as wiring harnesses and power/communication cables, we will also consider recycling the metals recovered during the gasifying process and reusing them as raw materials.
Through the joint technological development, we will accelerate our contribution to the achievement of a "Green Society" through our products and services.
Collaborative R&D framework
Sumitomo Riko Company Limited
Headquarters ： 1-1-1 Meieki, Nakamura-ku, Nagoya-shi, Aichi, Japan
Representative ： Kazushi Shimizu, Representative Director, President & CEO
Founded ： 1929
Business Overview ： Harnessing its core competencies in polymer materials technology and comprehensive evaluation technology, Sumitomo Riko operates across four fields: Automotive (Mobility), Infrastructure and Housing Environment, Electronics, and Healthcare.
Sumitomo Rubber Industries, Ltd.
Headquarters : 3-6-9 Wakinohama-cho, Chuo-ku, Kobe, Hyogo, Japan
Representative : Satoru Yamamoto, Representative Director, President & CEO
Founded : 1909
Business Overview : Sumitomo Rubber manufactures and sells tires, sporting goods, and industrial products. The company operates a global tire business under the brands Dunlop and Falken.
Sumitomo Electric Industries, Ltd.
Headquarters : 4-5-33 Kitahama, Chuo-ku, Osaka-shi, Osaka, Japan
Representative : Osamu Inoue, President & COO
Founded : 1897
Business Overview : Sumitomo Electric contributes to the evolution of society and people's daily lives in five business segments: Environment and Energy, Infocommunications, Automotive, Electronics, and Industrial Materials.
LanzaTech Global,, Inc.
Headquarters : Illinois, United States
Representative : Dr. Jennifer Holmgren, CEO & Director
Founded : 2005
Business Overview : Headquartered in Skokie, IL, LanzaTech Global, Inc. (Nasdaq: LNZA) captures waste carbon and transforms it into materials such as sustainable fuels, fabrics, packaging, and other products. Using a variety of waste feedstocks, LanzaTech’s technology platform highlights a future where consumers are not dependent on virgin fossil feedstocks for everything in their daily lives. LanzaTech’s goal is to challenge and change the way the world uses carbon, enabling a new circular carbon economy where carbon is reused rather than wasted, skies and oceans are kept clean, and pollution becomes a thing of the past. For more on LanzaTech visit www.lanzatech.com.