Mitsubishi Corporation has entered into an agreement to acquire 25 per cent of shares in ELG Carbon Fibre Ltd (ECF).
ECF reprocess surplus CPRF materials from manufacturing operations and end of life parts to produce and supply high quality carbon fibre products to the market.
Mitsubishi Corporation will promote sales and marketing of ECF products through the company channels in the business of plastic resin sales.
Whilst Japan is a global leader in carbon fibre technology, recycling technologies have not developed at the same pace, and Mitsubishi Corporation’s partnership with ECF aims to address this important barrier to mass adoption in industries where sustainability and environmental impact are vital.
Frazer Barnes, Managing Director of ELG Carbon Fibre, said: “Both ECF and Mitsubishi Corporation place the highest value on quality products and service excellence. Together we will continue to meet the expectations of our customers and stakeholders and grow our business to generate economics and environmental success. This agreement will also provide resources to support our expansions, whilst strengthening ECF’s access to key transportations markets within Asia and North America.”
Mitsubishi Corporation said: “Through the acquisition of shares in ECF, Mitsubishi Corporation will be contributing to expanding the stable supply of reprocessed carbon fibre while at the same time continuing to contribute to the sustainable development of industry and the realisation of a low-carbon society.”