Focusing on Environmental Technology, Bio-healthcare

Lotte Chemical has established a 13-billion-won fund to invest in startups specializing in environmental technology and bio-healthcare.

Lotte Chemical has established a 13-billion-won fund in cooperation with Lotte Precision Chemical and Lotte Accelerator to discover startups specializing in environmental technology and bio-healthcare.

Through this fund, Lotte Chemical plans to invest in startups with promising technologies that are related to the goals of "Green Promise 2030," its ESG management vision. Its ultimate goal is to forge strategic partnership with these companies.

Lotte Chemical created Lotte Chemical Innovation Fund No. 1, a 5-billion-won fund, together with Lotte Accelerator in December 2019. The fund focused on startups specializing in new chemical materials and environmental technology. It has invested in six companies including Chemiko, which has developed high magnification polypropylene (PP) foam sheet production technology, and Blue Bank with expertise in volume-production of functional microorganisms for water treatment. It is considering collaboration with these startups for synergy.

The second fund will expand the scope of investment to bio-healthcare and overseas startups. It will also increase the amount of investment per company.

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