Cathay Biotech and 3P.COM Signed Joint Venture Agreement to Propel Sustainable Composite Innovations

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Feb 08, 2024, 10:00 ET

China's Cathay Biotech Inc. and South Korea's 3P.COM Co. Limited signed an agreement to establish a joint venture, targeting the development of bio-based polyamide thermoplastic composites.

SHANGHAI, Feb. 8, 2024 /PRNewswire/ -- Cathay Biotech Inc. ("Cathay") and 3P.COM Co. Limited ("3P.COM") signed a strategic joint venture agreement on January 16, 2024, in Shanghai, P.R.China. The collaboration will focus on advancing the development of bio-based polyamide thermoplastic composites tailored for critical applications such as hydrogen storage and transportation, urban air transport, and wind turbine blades. This partnership underscores the commitment to drive sustainability in new energy, transportation, and related sectors while providing essential technical support to achieve net-zero emissions.

In a groundbreaking move towards sustainable innovation, Cathay Biotech, a leading developer and manufacturer of synthetic biomaterials, has forged a strategic alliance with 3P.COM, a company renowned for its extensive simulation expertise. This partnership aims to unleash the boundless market potential of bio-based polyamide continuous fiber composites, positioned to replace non-recyclable thermosets, aluminum, and steel in applications spanning new energy, modern transportation, and modern construction. Dr. Liu Xiucai, Chairman and President of Cathay Biotech, emphasized the objective of this Joint Venture ("JV"), stating, "The JV aspires to be the final-step technological interface for these applications."

Drawing on years of experience in composite development within the new energy and automotive fields, Dr. Sung Kyu Ha, Chairman of 3P.COM, emphasized the tangible advantages of Cathay's bio-based polyamide continuous fiber composites in performance and low-carbon footprint. Dr. Ha anticipates that the collaboration between Cathay and 3P.COM will deliver cutting-edge composite material technology and product solutions to global customers, with substantial market scope and epoch-making industrial significance.

This JV marks a significant step forward in advancing sustainable technologies, combining the strengths of two industry leaders to drive transformative change in the landscape of composite materials.

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For more information:
Cathay Biotech https://www.cathaybiotech.com/en/
3P.COM https://sites.google.com/view/3p-com/home.

SOURCE Cathay Biotech Inc.