Econic Signs Strategic Licensing Agreement with Saudi Aramco Technologies Company (SATC) for CO2 Polyols
Econic expands its technology portfolio to bring renewable carbon solutions to new markets with a strategic global license agreement
Econic Technologies, a deep tech company focused on renewable carbon, has signed a global license agreement for strategic rights to Saudi Aramco Technologies Company’s (SATC) CO2 polymer technologies. By incorporating the technology into its existing portfolio, Econic will expand its overall product offering, allowing it to better serve new and existing customers in coatings, adhesives, sealants, and elastomers (CASE) and other market segments.
SATC was among the first companies to introduce CO2 polyols to market with its Converge® range. Since the technology’s debut, complementary technologies and sustainability strategies have evolved significantly. Today, manufacturers and brand owners are urgently seeking solutions to ensure competitiveness in the near and long term. They are responding to consumer demand for higher performing, more sustainable, cost-effective products and mounting reporting and regulatory pressures to lower their carbon emissions. Building on this momentum, Econic now sees fresh opportunities to strategically develop, combine, and position SATC’s CO2 technology to support the strong and growing demand for more sustainable materials.
“At Econic, our market-leading catalytic and process technologies turn carbon dioxide — a readily available, abundant, and affordable source of renewable carbon — into useful, high-performing materials. We see an opportunity to take Aramco’s CO2 polyol technology to its potential, complementing and strengthening our existing offering. With this addition, we are excited to help a broader range of industries improve their products and reduce their carbon emissions” said Keith Wiggins, CEO of Econic.
“Saudi Aramco Technologies Company is pleased to license our CO2 polyols technology to Econic. Econic has emerged as a leader in CO2-based materials, and we are confident the company can successfully deploy our Converge® polyols,” said Dr. Raed Abudawoud, CEO of SATC.
In recent months, Econic has accelerated the commercialization of its technology in the US, Europe and Asia. The company announced several commercial agreements and MOUs with polyols producers that will manufacture and market polycarbonate ether (PCE) polyols based on captured carbon. Industrial quantities will be available in 2025.
About Econic Technologies
Econic Technologies is a UK-based deep tech company focused on renewable carbon. Its innovative catalyst and process technology allows manufacturers to produce polymers based on CO2 instead of petrochemicals. The use of CO2 enhances sustainability while creating more cost-effective, higher-performing end products. Econic licenses its technology to polyols and surfactants manufacturers that supply some of the world’s most iconic consumer brands. Econic was founded in 2011 by Dr. Charlotte Williams at Imperial College London. The company is part of Cleantech Group’s Global Cleantech 100. Its global headquarters are in Alderley Park, UK just outside of Manchester.
About SATC
Saudi Aramco Technologies Company (SATC) is a 100% owned subsidiary of Aramco and acts as a research and licensing arm for non-Upstream technologies.
Source: Econic Technologies, press release, 2025-04-08.