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JEPLAN, INC. (Representative Director, President & Executive Officer: Masaki Takao;hereinafter “JEPLAN”), Sumitomo Mitsui Financial Group, Inc. ( Group CEO: Toru Nakashima; hereinafter collectively referred to as the “SMBC Group”), and Asahi Soft Drinks Co., LTD. (President and Representative Director : Kayoko Kondo; hereinafter “Asahi Soft Drinks”) have signed a memorandum of understanding (hereinafter “this agreement”) to promote cooperation aimed at expanding their chemical recycling business.
JEPLAN possesses proprietary chemical recycling technology*1 for polyethylene terephthalate (hereinafter “PET”), and through this MOU, aims to further expand the circular utilization of PET. In addition, JEPLAN, INC. has received an investment from Sumitomo Mitsui Banking Corporation (President and Chief Executive Officer: Akihiro Fukutome; hereinafter “SMBC”) utilizing its Social Value Creation Investment Framework*2, with the aim of supporting the advancement of this initiative and strengthening JEPLAN’s business foundation.
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1. Background
As the importance of resource recycling has been increasing in recent years, expectations for chemical recycling, in which used PET bottles and other materials are effectively utilized as resources again, have been growing even higher. On the other hand, there are still many issues to be resolved in order to implement and expand this business in society, such as securing stable raw materials, upgrading technologies, establishing business profitability, and strengthening cooperation throughout the supply chain. In light of these issues, JEPLAN, SMBC Group, and Asahi Soft Drinks have concluded a memorandum of understanding (MOU) to bring their respective knowledge and capabilities together to further promote cooperation in the chemical recycling business. In addition, SMBC will strengthen the foundation for the promotion of this project by investing in JEPLAN through the Social Value Creation Investment Facility in order to make the collaboration more effective.
2. Purpose
The purpose of this investment is to accelerate the expansion of the use and social implementation of chemically-recycled PET by combining JEPLAN's manufacturing and stable supply function of chemically-recycled PET, Asahi Soft Drinks' efforts to create demand and expand use, and the SMBC Group's comprehensive strengths, including financial solutions, customer base, and network. The objective is to accelerate the use and social implementation of chemically-recycled PET. Through strengthening cooperation and business scaling throughout the supply chain, we will aim to help build a sustainable resource-recycling supply chain and contribute to the realization of the circular economy and the creation of social value.
3. future initiatives
Based on this agreement, we will further strengthen our collaboration to ensure a stable supply, create demand, and expand the use of chemically-recycled PET. In addition, we will accelerate the social implementation of chemically-recycled PET and aim to realize a sustainable resource-recycling supply chain by promoting studies and initiatives to build and strengthen the supply chain as a whole and to scale up the business.
*1 See the JEPLAN website (https://www.jeplan.co.jp/technology/) *2 See SMBC Group press release dated May 17, 2024, “Establishment of Expense Limit for Creating Social Value” (https://www.smbc.co.jp/news/pdf/j20240517_01.pdf)
【The original press release is in Japanese】
【JEPLANプレスリリース】JEPLAN、三井住友フィナンシャルグループ、アサヒ飲料の３社によるケミカルリサイクルの推進に関する覚書締結について.PDF