Company philosopy

IPEACE223 Vision image


Switching from fossil resources to biomass for realizing carbon neutralization of fuels and chemicals

IPEACE223 Mission image


We can propose ETP (ethylene to propylene) process for catalytic conversion of ethylene derived from ethanol, which is widely used as an additive of automobile fuel. It provides LPG (liquified petroleum gas)-alternative and bio-propylene through the highly selective and cost-effective ways.

IPEACE223 Value image


  • We can provide propylene by the combination of well-modified catalyst affording highly selective conversion of ethylene and well- differentiated regeneration process of deactivated catalyst. We hold highly exclusive IP position.
  • Our technology can realize the drastic mitigation of CO2 emission by providing LPG-alternative and propylene derived from bioethanol as a resource, which can be procured in high volumes.

Activities targeting SDGs





Origin of the company name

Innovative Processes for Eliminating
Anthropogenic CO2 Emission

Two to Three

“Two to Three” – refers to the number of carbon molecules (the “carbon number”) in the chemical reaction that represents the company’s main process for transforming ethylene (carbon no. 2) into propylene (carbon no. 3).

Management team

Shosuke Kiba

Representative Director

After joining Toyota Tsusho Corp., seconded temporarily to Toyota Motor Corp., and later worked in the startup of new business in the functional materials field, as well as investments in material related venture companies, and support for global rollout. In 2012, he joined The Innovation Network Corporation of Japan (currently INCJ, Ltd.), where he started up a material/chemicals team, and contributed to the planning of UMI, where he was formally named as a partner in April 2016. He completed degrees in the Graduate School of Science and Engineering, Waseda University, and the Graduate School of Bio-Applications and Systems Engineering, Tokyo University of Agriculture and Technology. He holds a Ph.D. in Engineering.

Toru Setoyama

Representative Director CTO

1983- Research work at Mitsubishi Chemical corp.
Research area : Design of heterogeneous catalyst & inorganic functional material.
2000 Commercialization of THF polymerization process
2001-2014 General manager of many laboratories at MCC
2002- Development of many new processes for olefin production
ETP is the most favorite and proud work.
2013 Executive officer of MCC, PO of JST CREST(Hyper Nano Space Design)
2014-2022 General manager of Setoyama Laboratory,
2014- Project leader of “Artificial Photo Synthesis” supported by NEDO
2019 Executive Fellow of MCC

Toshiyuki Yokoi

Director CSO

He received a Ph.D. of Engineering from Yokohama National University in 2004. He was an assistant professor at department of chemical system engineering, The University of Tokyo in 2004, and Chemical Resources Laboratory, Tokyo Institute of Technology in 2006. From 2017, he has been a research unit leader of Nanospace Catalysis Unit, Institute of Innovative Research, Tokyo Institute of Technology. He was promoted to an Associate Professor in 2018.
He is a key person in R&D within iPEACE223 because he has plenty of experience in the synthesis and catalytic application of zeolites.

Management team image

Management team image

Company Profile

iPEACE223 Inc.
Aug 1, 2023

4259 Nagatsuta-cho, Midori-ku, Yokohama City, Kanagawa, 226-8501, Japan
Tokyo Institute of Technology, Suzukakedai Campus R2B-206

Head Office Registration Address
Konwa Bldg. 2F, Tsukiji 1-12-22, Chuo-ku, Tokyo, 104-0045, Japan

Shosuke Kiba, Toru Setoyama
  • Development of catalytic process for manufacturing propylene and LPG-alternative (fuel) from bioethanol
  • Process design for large-scale production