CTK Bio Canada Selected as a Supported R&D Company in Canada

[Asia Economy Reporter Junho Hwang] CTK, a cosmetics platform company, announced on the 11th that its Canadian subsidiary 'CTK Bio Canada' has received 320,000 Canadian dollars (approximately 300 million KRW) in research and development (R&D) funding from the Canadian government.

CTK Bio Canada was recognized for its R&D achievements related to eco-friendly biodegradable plastic manufacturing technology using agricultural and livestock waste as raw materials, and was selected as a supported company under the Canadian federal government's flagship R&D support program, 'SR&ED (Scientific Research and Experimental Development)'.

CTK Bio Canada met all three major technical task requirements to receive support from this program. The three major technical tasks are: ▲ overcoming problems of existing technologies and addressing 'technical uncertainty' that cannot be predicted by existing knowledge, ▲ having research that is documented, systematic, and conducted repeatedly as 'technical content', and ▲ achieving 'technical advancement' that does not currently exist and is not commonly used in practice.

CTK Bio Canada has also applied for the BIC program from the British Columbia provincial government and expects to receive up to 1 million Canadian dollars (approximately 1 billion KRW) in funding from both the federal and provincial governments next year.

JK Park, CEO of CTK Bio Canada, said, "We are very pleased that CTK Bio Canada's next-generation biodegradable plastic manufacturing technology using waste, developed over several years in collaboration with leading Canadian university researchers, has been officially recognized by the Canadian government." He added, "We will continue to work closely with the Canadian government to develop more innovative new technologies."

CTK Bio Canada is developing new technology to manufacture next-generation biodegradable plastics PBAT and PHA that decompose naturally in environments such as soil and marine settings, overcoming the limitation of the most widely used biodegradable plastic PLA, which does not decompose in natural environments and only breaks down in composting facilities.

In particular, it is gaining attention as an eco-friendly biodegradable plastic manufacturing technology using large amounts of waste and biosolids generated from the agricultural and livestock industry as raw materials. Currently, CTK Bio Canada is preparing to start production in September by establishing automated production facilities for the eco-friendly biodegradable plastic 'Earth Edition,' which is manufactured using discarded by-products as raw materials.

This content was produced with the assistance of AI translation services.