Mitsubishi Chemical invests in Licella
Diamond Edge Ventures, venture arm of Mitsubishi Chemical Group, announced investment in Australian advanced recycling and renewable fuels technology company Licella Holdings to accelerate the company’s global expansion and commercial deployment of its proprietary Catalytic Hydrothermal Reactor (Cat-HTR™) technology.
“Licella’s Cat-HTR platform offers a scalable and flexible pathway to produce circular chemicals and sustainable fuels from hard-to-recycle waste streams and biomass … By partnering with Licella at this pivotal stage, including supporting its efforts with the Japanese consortium on SAF production, we are helping to accelerate the transition to a low-carbon, circular economy,” said Curtis Schickner, president of Diamond Edge Ventures.
Licella’s Cat-HTR process converts waste plastics and biomass into oil in supercritical water under high temperature and high pressure, which is then refined to produce chemical feedstocks and sustainable aviation fuel.
“We are proud to partner with Diamond Edge Ventures and Mitsubishi Chemical Group at this important moment for Licella. Their funding and strategic support validate the commercial readiness of our Cat-HTR platform and its unique ability to deliver scalable, low-carbon solutions for hard-to-recycle plastics and biomass residues,” said Dr. Len Humphreys, co-founder & CEO of Licella.
Mitsubishi Chemical is involved in the plastic-to-oil conversion business together with ENEOS Corporation, and recently constructed a new chemical recycling facility at MCC’s Ibaraki Plant in the Japanese city of Kamisu.
The Hydro-PRT technology of UK-based Mura Technology, which was adopted for this facility, is based on Licella’s Cat-HTR technology.
The investment builds on the recent commencement of pre-feasibility study for the commercialisation of SAF, bio-naphtha and renewable diesel utilising domestic forest residues announced by Mitsubishi Chemical Corporation in March earlier this year.
The feasibility is based on Licella’s technology to produce SAF, bionaphtha, renewable diesel, and other products from woody residue.