Microwave Chemical and Mitsui Chemicals have entered into a Strategic Partnership
Starting joint development of microwave-based next-generation chemical process technologies
Microwave Chemical Co., Ltd
Mitsui Chemicals, Inc.
Microwave Chemical Co., Ltd. (headquarters: Suita, Osaka prefecture; CEO: Iwao Yoshino; hereinafter “Microwave Chemical”) and Mitsui Chemicals, Inc. (headquarters: Minato-ku, Tokyo; President & CEO: Tsutomu Tannowa; hereinafter “Mitsui Chemicals”) are pleased to announce that they have entered into a strategic partnership for the joint development of microwave-based next-generation chemical process technologies.
Microwave Chemical is a startup business from Osaka University, specializing in the development of unique microwave-based product manufacturing processes, and the development of new materials that would be difficult to manufacture using conventional technology. With technology that has potential applications for manufacturing processes across a wide range of sectors, including medicine, electronic materials, food and fuel, the company has worked on joint development with a whole host of manufacturers, both domestic and overseas, and has set up its own plant, as part of its ongoing commitment to open innovation in the chemical industry.
Mitsui Chemicals operates a wide range of businesses, with an emphasis on the fields of Mobility, Healthcare, and Food & Packaging. It is similarly keen to promote open innovation through initiatives such as working in partnership with startup businesses, with an eye to developing new products and new businesses.
The two companies agreed to enter into a strategic partnership on the basis that Mitsui Chemicals will invest in Microwave Chemical and assign researchers to the company, to carry out joint research into new chemical processes and systems using microwave technology. As a result of this strategic partnership, Microwave Chemical will be able to establish and commercialize technologies in new areas. Mitsui Chemicals meanwhile will be looking to take its existing production technology to the next level, and accelerate the creation of new products and businesses.
Outline of the two companies
|Microwave Chemical Co., Ltd.||Mitsui Chemicals, Inc.|
|1. Establishment||August 2007||October 1997|
|2. Address||2-8 Yamadaoka, Suita, Osaka prefecture||1-5-2 Higashi-Shimbashi, Minato-ku, Tokyo|
|3. Paid in capital||¥3.318 billion (including legal capital surplus)||¥125.053 billion (consolidated)|
|4. Business activities||
|5. Employees||41||13,447 (consolidated)|