China’s Cathay Biotech and South Korea’s 3P.COM signed a joint venture agreement

The joint venture will be committed to developing applications of thermoplastic bio-based polyamide composite materials, including hydrogen storage and transportation, urban air transportation, wind turbine blades and other fields, aiming to promote the sustainable development of new materials in new energy, transportation and other fields.

Dr. Liu Xiucai, chairman and president of Cathay Biotech, said: “Bio-based polyamide continuous fiber composites can replace non-recyclable thermosetting materials, aluminum and steel in application fields such as new energy, modern transportation, and modern construction, and have unlimited market space. As an R&D and manufacturing enterprise of synthetic biological materials, the goal of the joint venture between Cathay Biotech and 3P.COM, which has rich simulation expertise and experience, is to provide the final step of technical connection for these applications.”

Professor Ha Sung Kyu, chairman of 3P.COM, said: “Based on my many years of experience in developing composite materials in the fields of new energy and automobiles, Cathay Biotech’s bio-based polyamide continuous fiber composite materials have significant advantages in terms of performance and environmental protection and emission reduction. The joint venture between Cathay Biotech and 3P.COM will provide advanced composite material processes and product solutions to Chinese and global application customers, representing a huge market space and historical industrial significance.”