July 31, 2025 -
Mitsubishi Chemical Backs Licella’s Plastic-to-Fuel Tech in Global Sustainability Push
Mitsubishi Chemical Group has invested in Australian cleantech firm Licella Holdings through its U.S.-based venture arm, Diamond Edge Ventures, marking a strategic move to scale Licella’s patented Cat-HTR™ recycling technology worldwide.
The advanced Cat-HTR™ process converts waste plastics and biomass into reusable oils under supercritical water conditions, yielding outputs ranging from chemical feedstocks to sustainable aviation fuel (SAF). The investment aligns with Mitsubishi’s broader sustainability agenda, which includes recent collaborations with ENEOS and the launch of a chemical recycling facility in Ibaraki using Mura Technology’s Hydro-PRT™ system—a derivative of Licella’s innovation.
“This partnership accelerates the commercialization of circular solutions for hard-to-recycle plastics,” said Curtis Schickner, CEO of Diamond Edge Ventures. Industry analysts note the deal could catalyze wider adoption of hydrothermal liquefaction technologies, particularly in Asia’s growing masterbatch and polymer markets.
With global plastic waste volumes projected to triple by 2040, Mitsubishi’s bet positions Licella as a key player in the race to scale advanced recycling—a sector gaining traction among chemical giants seeking low-carbon feedstocks.