Showa Denko Receives Government Subsidy for Resource Utilization
—Expanding Capacity for Processing Used Plastic—
Showa Denko K.K.
February 16, 2015
Showa Denko (SDK) (TOKYO: 4004) has received the Japanese Government’s interest subsidy concerning its investment in the expansion of used-plastic gasification facility at the Kawasaki Plant. The investment has been recognized by the Ministry of Economy, Trade and Industry as part of the ministry’s fiscal 2014 program for the promotion of effective utilization of resources. Under the program, SDK received a loan from the Development Bank of Japan Inc. on January 30.
The Government provides interest subsidies for bank loans to firms investing in plant and equipment that promote effective utilization of recyclable resources.
As part of its basic chemicals business, SDK is producing ammonia at Kawasaki. SDK gasifies used plastic to obtain part of hydrogen necessary for the synthesis of ammonia. In an effort to raise the percentage of hydrogen from used plastic, SDK is planning to expand its gasification facility at Kawasaki. After the completion of the planned expansion, the percentage of hydrogen from used plastic will increase to more than 60%.
The increase in the percentage of feedstock from used plastic has been recognized as a contributing factor in the promotion of effective utilization of resources and recycling-oriented society.
Ammonia is used in the production of synthetic fibers and metal surface treatment for automotive and construction machinery parts. It is also used for removing nitrogen oxides contained in exhaust gas from thermal electric power plants and waste incineration facilities. Furthermore, SDK’s liquefied ammonia (trade name: EcoannTM) has been approved as “eco-friendly goods for procurement” by major electric power companies because the product is partly based on used plastic.
SDK is conducting its operations based on its Vision that calls for contribution to society through provision of useful products and services. By providing products indispensable for protecting the environment and improving social infrastructure, SDK will continue meeting the expectations of society and local communities.
For further information, contact:
Public Relations Office (Phone: 81-3-5470-3235)