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| December 3, 2001 |
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FRONTIER CARBON CORPORATION LAUNCHED
World's First Large Scale, Economic Production of Fullerenes
Will Lower Cost and Increase Availability |
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| Mitsubishi Kagaku Medical, Inc. |
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Frontier Carbon Corporation (FCC), a joint venture of Mitsubishi Corporation and
Mitsubishi Chemical Corporation, was launched today with the financial support
of the world's first nanotechnology private equity fund, Nanotech Partners. The
new company will be a leading developer of high-performance nanocarbon products
based on fullerene and carbon nanotube technology, as well as produce and supply
nanocarbon materials.
Fullerenes are intricate carbon molecules with a football-shaped molecular structure.
Fullerenes are currently used for products ranging from pharmaceuticals, such
as anti-cancer and anti-HIV drugs, anti-aging cosmetics, long-life lithium ion
batteries, hydrogen storage materials for fuel cells, super conductive materials,
highly functional coating materials, and super fine artificial diamonds for industrial
grinding applications. While potential applications for fullerenes are virtually
endless, the high cost of fullerene production has made their widespread commercial
use impossible until now.
FCC will make the large scale, economic production of fullerenes possible for
the first time by combining the material patents and marketing skills of MC with
the carbon black production technology of MCC. Construction on a pilot plant in
MCC's Kurosaki production facility in Kitakyusyu City will begin in February 2002,
where initial production of fullerenes will be 400 kg per year. Next, a large
commercial plant will be constructed in 2007 with an annual production capacity
of 1500 tons. These two facilities alone will expand the current global production
of fullerenes by 10,000 times, and will reduce the cost of fullerenes by one tenth
to one hundredth of current prices.
Once these facilities are online, it is expected that demand for fullerenes will
rapidly expand. To accommodate increasing demand, FCC will introduce a stock option
system by April 2002. In addition, an IPO to attract increased capital investment
will be considered in the future.
| Corporate Overview |
| Frontier Carbon Corporation |
| President |
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Shigeki Tomonoh (former general manager
of STO and MCC) |
| Headquarters |
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Kyobashi Nissyoku Boulevard
1-8-7 Kyobashi, Chuo-ku, Tokyo |
| Capital |
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1 billion yen (50% from MCC, 50% from Nanotech Partners)
(This amount will increase to 2.3 billion yen by June 2002) |
| Founded |
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December 3, 2001 |
| Business Focus |
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Production and sales of fullerene and other nanocarbon
products |
| Estimated Sales |
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Approximately 23 billion yen in FY2007 |
| Workforce |
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Approximately 20 employees in FY2002 |
| Nanotech Partners |
| Fund Value |
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7.2 billion yen
(Will increase to approximately 15 billion yen by June 2002) |
| Investment Period |
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5 years |
| Continuation Period |
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Estimated 10 years |
| Members |
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Nanotech Partners Co.
Mitsubishi Corporation
Mitsubishi Chemical Corporation
Honjo Chemical Corporation |
| Primary Investment |
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Unlisted companies both in Japan and overseas
(includes Frontier Carbon Corporation)
| 1. |
Production and sales company involved in fullerenes and carbon
nanotube technology (FCC) |
| 2. |
Production and sales company of fullerenes and carbon nanotube
applied materials |
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| Objective |
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With the objective of accelerating the production
and applied material development of carbon fullerenes and carbon nanotubes, Nanotech
will create strategic alliances with companies and individuals with proven track
records in order to benefit the company. |
| For further information, please contact |
| Public Relations Department, |
| Mitsubishi Chemical Corp. |
| Tel: [+81] 3-3283-6254 |
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