LG Chem Pioneers Global Markets with Bio-balanced NPG
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LG Chem Pioneers Global Markets with Bio-balanced NPG
<Bio-balanced Neopentyl Glycol>
* NPG (Neopentyl Glycol): Raw material used for coating automobiles or household appliances


■ First shipment of NPG developed using plant-derived bio materials such as waste cooking oil on the 25th
   - Acquired ‘ISCC PLUS’ international certification proving the sustainability of eco-friendly materials
   - First export to Novaresine, an Italian company that is a leader of sustainable technologies
 
 ■ Strategy to expand global sales channels by pioneering European markets with high demands for eco-friendly products
     - Quantify carbon reduction effect to improve customer confidence on products


■ KUG LAE, NOH (Executive Vice President / President, Petrochemicals Company),
    “Significant considering that it is the first bio-balanced NGP appearing in the global stage”
    “We will lead the eco-friendly material sector in the global market while expanding cooperation with

     sustainable innovation companies”
 





LG Chem is pioneering the global market in earnest with bio-balanced NPG.


On the 25th, LG Chem announced that it shipped its first exports of ‘Bio-balanced NPG (Neopentyl Glycol).’ This product that is produced by using bio materials such as waste cooking oil and palm byproducts acquired ‘ISCC PLUS (International Sustainability & Carbon Certification PLUS),’ which is a global sustainable eco-friendly material certification.


NPG is a raw material for coating agents and it is necessarily used for coating automobiles, household appliances, soda cans, etc.


This product was shipped from the Yeosu Complex and it will be delivered to the Italian material client, Novaresine, for use as raw materials to coat cans and coils. Novaresine is a leading company in sustainable technologies and the Company currently focuses on promoting bio-balanced product (resin) distribution and sales within Europe with the goal of achieving innovation in the eco-friendly sector.
 
With this export of bio-balanced NPG, LG Chem took its first step into the European market that is currently concentrating on developing eco-friendly products, and plans are to accelerate efforts into pioneering the global market starting with this.


LG Chem already established the foundation for receiving stable supplies of bio materials needed for manufacturing eco-friendly products from Neste, a Finnish bio diesel company, in 2020. Based on this, the Company has expanded the number of ISCC Plus certified bio-balanced products to 39 and is converting its business structure to focus mainly on eco-friendly materials.


Furthermore, data from the LCA (Life Cycle Assessment) that evaluates all environmental impact generated from production of raw materials to shipping of products will be used to quantify the carbon reduction effects of each product to raise customer confidence.


Results of the LCA showed that bio-balanced NPG manufactured by LG Chem has carbon reduction effects upwards of 70% compared to other existing products. These are evaluation values for products made by applying 100% bio material input and was also verified by the Korean Society for Life Cycle Assessment (KSLCA).
 *LCA includes the production process of raw materials, and so in the case of bio materials, greenhouse gas emissions are calculated by also considering carbon dioxide (CO2) absorption by plant.


KUG LAE, NOH (Executive Vice President / President, Petrochemicals Company) stated, “We were the first to localize NPG using purely proprietary technologies in 1998, and therefore, this is hugely significant in that it is the first time that bio-balanced NPG products took step into the global stage.” He added, “We will lead the eco-friendly material sector in the global market while expanding cooperation with sustainable innovation companies.”