South Korea`s LG Chem Ltd. and Korea Institute of Science and Technology (KIST) are moving onto commercialization of a technology that can use carbon dioxide to create raw materials for plastics.

LG Chem announced on Monday that it developed an electrochemical reactor with maximum conversion efficiency for converting carbon dioxide into carbon monoxide through its joint research with KIST. Carbon monoxide can be used to produce various chemical raw materials including alternative fuels such as synthetic gas and methanol as well as plastics.

During the joint research, ‘electrochemical conversion technology’ was applied to convert carbon dioxide into high value-added carbon compounds such as carbon monoxide using electricity. Electrochemical conversion technology helps solve environmental issues by decreasing greenhouse emissions and achieves carbon neutrality by using carbon dioxide as raw materials.

The reactor jointly developed by LG Chem and KIST not only produces carbon monoxide but also synthetic gas, the raw material for various fuels and chemical compounds, by controlling the voltage to adjust the ratio of hydrogen.

The current efficiency for the decomposition and reduction of carbon dioxide is evaluated at more than 90 percent, the highest reported in a research paper. The higher the current efficiency, the fewer by-products such as hydrogen and oxygen are produced, which allows for more carbon monoxide to be produced from the same amount of carbon dioxide.

The company explained that its electrochemical reactor can be commercialized as it stacks cells sideways within the reactor, maximizing space.

LG Chem and KIST plan to increase the size of the reactor by more than 10 times to develop technology for mass production.

The joint research team is also aiming to reach carbon neutrality by developing a technology that produces ethylene, the raw material for various petrochemical products, by collecting carbon dioxide in the air.

“The results of the research are significant because we were able to lay the foundation for the commercialization of carbon dioxide conversion technology and we will continue to work towards developing the basic technologies needed to reach carbon neutrality,” said Yoo Ji-young, the vice president and chief technology officer (CTO) of LG Chem.

LG Chem and KIST entered MOU for the joint research and development of technologies for carbon neutrality and hydrogen energy in April last year and set 10 carbon neutrality technology goals. In April this year, the two institutes opened a joint research lab for the transfer of ‘electrochemical production technology of ethylene using carbon dioxide’ and ‘biological production technology of organic acid using biomass and by-product gas.’

Shares of LG Chem closed down 3.08 percent at 504,000 won ($395.60) on Monday.

By Park Yun-gu and Susan Lee

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