iPEACE223 Inc. (Head Office: Chuo-ku, Tokyo; President and CEO: Ryoichi Higuchi; hereinafter “iPEACE223”), which aims to establish a technology for producing green propylene from biomass feedstocks using a zeolite catalyst optimized for the Ethylene-to-Propylene (ETP) reaction, has successfully raised funding from the UMI No. 3 Investment Limited Partnership and the UMI No. 3 Decarbonization Investment Limited Partnership, both managed by Universal Materials Incubator Co., Ltd. (UMI).
To accelerate the commercialization of green propylene production technology, iPEACE223 was established in August 2023 to bring into practical use a zeolite catalyst technology developed by Mitsubishi Chemical Corporation that enables the production of propylene from ethylene. Leveraging bioethanol as a feedstock, iPEACE223 is engaged in the development of catalytic processes for converting ethylene into propylene, as well as plant engineering and catalyst development for commercial-scale production.
- Stable production of bio-propylene through its proprietary Ethylene-to-Propylene (ETP) reaction.
- Proprietary zeolite catalyst technology that enables the direct conversion of ethylene into propylene.
- The process eliminates the need for complex production steps, allowing for the development of smaller-scale plants.
- A highly selective zeolite catalyst for propylene production achieves higher yields than conventional technologies, enabling the manufacture of more cost-competitive green propylene.
- The company has also confirmed that its catalyst regeneration technology using hydrogen prevents catalyst degradation and maintains catalyst performance over time.
iPEACE223’s vision is to achieve carbon neutrality in energy and chemical products by transitioning feedstocks from fossil resources to biomass-derived resources. Rather than producing ethylene, propylene, and other petrochemical products from naphtha-based processes derived from fossil resources, iPEACE223 seeks to reduce CO₂ emissions by replacing the feedstock itself with biomass-derived materials. This feedstock transition enables the production of essential chemicals with a significantly lower carbon footprint while supporting a more sustainable and circular chemical industry.
Company Overview
Company Name: iPEACE223 Inc.
R＆D Center:
4259 Nagatsuta-cho, Midori-ku, Yokohama City, Kanagawa, 226-8501, Japan
Institute of Science Tokyo, Suzukakedai Campus R2B-206
Date of Establishment: August 1, 2023
Representative Director: Ryoichi Higuchi
Outline of Business:
- Development of catalytic process for manufacturing propylene and LPG-alternative (fuel) from bioethanol
- Process design for large-scale production
