The company aims to complete the demonstration of this technology by 2028, as well as start commercial production using the new process and license the technology to other companies in the 2030s.

Sumitomo is accelerating the development and spread of various new carbon capture and utilization (CCU) processes, as it expects the technology to serve as a game-changing solution to halt global warming and achieve a circular economy for carbon by recovering CO₂ and utilizing it in products. One such technology uses CO₂ to produce methanol, a raw material for a wide range of products, from plastics to adhesives, chemical agents, and paints. However, conventional CO₂-to-methanol conversion processes have faced challenges, Sumitomo said, such as low yield due to the reversible nature of the reaction and catalyst degradation caused by byproduct water.

According to Sumitomo, it has resolved these issues through joint development with Koji Omata, professor at Shimane University, leveraging the internal condensation reactor (ICR), a technology that Omata has been developing. The ICR enables the condensation and separation of methanol and water within the reactor, which is impossible with conventional technologies. This helps to improve yield, downsize equipment, and achieve higher energy efficiency, while it is also expected to prevent catalyst degradation.

Sumitomo said it strives to achieve carbon neutrality by 2050.