We are working with U.S. company PureCycle Technologies, Inc. ("PCT") on the joint development of a recycled polypropylene resin production project in Japan.
Further recycling and utilization of plastics are required in Japan to deal with ocean plastic pollution and climate change. Polypropylene ("PP") resin is widely used to produce packaging materials and automotive parts, but the recycled PP has limited application due to residual additives, such as colorants, which are difficult to remove from the resin.
PCT holds IPs to produce a recycled PP resin called Ultra-Pure Recycled Polypropylene (UPRP) from waste plastic, which has similar qualities to virgin resin, and succeeds in UPRP production. In April 2023, PCT completed the construction of its first plant in Ohio, in the U.S., with an annual production capacity of 50,000 tons of UPRP. The plant is now producing UPRP at a stable rate for the commercial market. In addition to the first plant, PCT is also planning to build large-scale recycling plants in Augusta, Georgia, in the U.S., and in Antwerp, Belgium.
By promoting this joint project, we aim to expand the use of UPRP for consumer goods, food containers, automotive interiors, and other applications. Through establishing a supply chain that covers securing supplies of waste plastic, to the manufacture of UPRP, and supply to customers, we will help to reduce waste plastic and establish a circular economy.

As aging infrastructure is becoming an issue for societies around the world and interest in circularity is increasing, we are strengthening our maintenance business to help extend the lifespan of structures and facilities. We established SHO-BOND & MIT Infrastructure Maintenance Corporation in 2019, and Horizon Ocean Management, Ltd. in 2021, which provides inspection and maintenance services for offshore wind power generation facilities. In 2023, we acquired all shares of STATS (UK) Ltd., which manufactures pipeline repair equipment and provides engineering services, and invested in Structural Technologies, LLC, an infrastructure repair company.

Our Food Business Unit is setting up a circulating system by establishing an agricultural product value chain and an animal protein value chain that effectively uses by-products generated during the production of agricultural and livestock products. To give some specific examples, the circulating system uses by-products from soybeans, rapeseed, wheat, sesame, and corn, along with livestock by-products and fishery residue, as livestock and fishery feed. In addition, cut strawberries with their leafy calyxes are squeezed to make juice, and tea leaf residue is used as a raw material for compost. Sugar cane fiber is used as fuel for power generation, and waste cooking oil is reused as livestock and fishery feed and aviation fuel. Excess sludge generated from wastewater treatment will be dried and used as boiler fuel. Activities such as these are promoting the expansion of sales channels for by-products.

MITSUI KNOWLEDGE INDUSTRY CO., LTD.

Our subsidiary MKI (Mitsui Knowledge Industry) has a cloud-based energy-saving management service called GeM2, which supports both energy-saving measures and comfort maintenance, for clients who own multiple facilities such as movie theaters, supermarkets, and fitness gyms. Temperature and humidity data from each area of the ffacility are gathered and sent to a data center to optimally manage the air conditioning (gas or electric) and fans.
In addition to the start/stop management of conventional demand controllers, the system's precise control of temperature and operating mode achieved a significant energy saving while maintaining comfort. MKI also offers a monitoring service for solar panel generation that remotely monitors from the cloud. Even though solar power facilities are described as being "maintenance-free," many maintenance issues still arise, such as panel damage, dirt and other surface fouling, equipment failure, and deterioration due to aging. Systems that can quickly raise owners’ awareness of such problems need to be considered, and we are taking the initiative to meet these needs.

Air as a Service Ltd.

We are developing a subscription-based service that provides users with comfortable air-conditioned spaces for a fixed monthly fee through Air as a Service Ltd. ("AaaS"), a company we have established with Daikin Airtechnology and Engineering Co., Ltd. AaaS installs and owns air conditioning equipment on behalf of the facility owner, and provides optimal operation cycles for each facility by applying an IoT system that remotely monitors the operating status of each air conditioner 24 hours a day, 365 days a year and by analyzing the air conditioning equipment’s operational data. By visualizing the operating status of equipment and eliminating waste, energy consumption and related costs can be reduced by approximately 20% compared with before the service was introduced. Moreover, by grasping the operating duration and load, and performing appropriate preventive maintenance, the service life of the equipment can be extended. We will continue to support the improvement of energy efficiency in buildings, factories, and other facilities through AaaS. As proof of the concept’s success, AaaS received an Energy Conservation Center Chairman's Prize in the Products and Business Model category at the Energy Conservation Awards 2020, sponsored by the Energy Conservation Center, Japan.