[Edaily Reporter Shin Ha-yeon ] JC Chemical Corporation, LTD.(137950)announced on the 4th that it has signed a memorandum of understanding (MOU) with Sumitomo Corporation, a Japanese general trading company, to collaborate on eco-friendly bioenergy projects.

Sumitomo Corporation is a leading Japanese general trading company that operates globally in various fields, including energy, chemicals, and infrastructure.

This agreement was established to promote cooperation in four areas—△securing raw materials, △product sales, △overseas projects, and △investment in new businesses—based on the experience and global networks both companies have accumulated in the bioenergy sector.

First, the two companies will jointly explore ways to establish a stable and cost-effective supply chain for various bio-feedstocks, including used cooking oil (UCO), fatty acids, and animal and vegetable oils. They plan to strengthen their feedstock procurement foundation by jointly evaluating supply stability, price competitiveness, and sustainability requirements.

In the area of product sales, the two companies will collaborate to expand sales of major biofuels—including biodiesel, bio-heavy fuel oil, bio-marine fuel, and pre-treated unit (PTU)—and to identify new customers. They aim to expand their domestic and international sales bases and establish a long-term supply system by leveraging their respective sales networks and global connections.

In the area of overseas projects, the two companies will jointly identify business opportunities ranging from bio-feedstock collection and pretreatment to production facilities, storage and logistics, trading, and marketing. They plan to gradually refine overseas bioenergy business models by reviewing the feedstock supply and demand environment and market conditions in each country.

In the area of new business investments, the two companies will jointly evaluate investment and operational feasibility for projects related to biofuels and eco-friendly bioenergy. They plan to comprehensively analyze factors such as business viability, investment structures, cooperation models, feedstock supply and product sales strategies, certification requirements, and market outlook to explore opportunities for joint ventures.

An official from JC Chemical Corporation, LTD. stated, “This MOU is significant in that it expands the scope of cooperation across the entire bioenergy value chain—from raw material procurement to product sales, overseas business development, and new investments—going beyond mere individual transactions.” The official added, “By combining the experience and networks of both companies, we will strengthen the stability of raw material supply and the foundation for product sales, jointly identify overseas projects and new business opportunities, and expand the foundation for mid- to long-term cooperation.”