The Polymer Industry Cluster, a collaboration of private and public partners affiliated with the Greater Akron Chamber, has received a $51 million federal investment from the federal Economic Development Administration’s (EDA) Tech Hubs Phase 2 awards.
The 3-year-old Polymer Industry Cluster is one of 12 award recipients nationally — the money will be used to advance “a hub of innovation, growth and investment for the United States focused on sustainable polymers” and is intended to bring “jobs, growth and investment for the region,” according to a press release from the chamber.
Polymer sustainability focuses on “re-imagining what polymers are made from and how they are used, re-used, and disposed of,” according to a description on the University of Akron’s polymer sustainability research page. Research advances “can reduce the amount of solid waste that ends up in the environment, decrease greenhouse gas emissions, and minimize our dependency on fossil fuels.”
The federal award will be matched with approximately $7 million of partner investment, for a total of more than $58 million across seven technology innovation, workforce and cluster coordination projects as part of the Sustainable Polymers Tech Hub’s work.
The technology and industry developments catalyzed by this award, the release states, are “expected to result in the removal of millions of tons of carbon dioxide annually and development of new solutions that can have less impact on the environmental ecosystem.”
Jobs, investment, regional economic impact expected
It is also projected that the resulting technology innovations will attract new businesses, talent and investment. More than 4,000 jobs are expected to be created or retained, with more than $1 billion of potential private investment in expanded production capacity and $5 billion in total economic impact for Northeast Ohio.
This award follows the Polymer Industry Cluster’s designation by the EDA as the Sustainable Polymers Tech Hub and corresponding $400,000 strategy development grant award in October 2023.
The region’s EDA award “signifies a milestone in the Polymer Industry Cluster’s efforts and serves as a catalytic moment for innovation and research in this industry,” the release states, and “will enable the commercialization of new technologies that can have global impact.”
With more than 150 polymer-related manufacturing companies in Greater Akron and more than 500 across Northeast Ohio, “this award strengthens the foothold that Greater Akron has as THE place for sustainable polymers research, innovation and collaboration.”
Key technology projects funded by the award will focus on:
- Commercializing recycling end-of-life tires.
- The development of sustainable polymer composites via liquid phase mixing.
- Manufacturing of sustainable bio-based butadiene for green synthetic rubber.
- Advancing formulation of carbon nanotube-based polymer composites.
- The development of safer antidegradants for tires and plastics.
Companies involved in the work include: Full Circle Technologies in Barberton, The Goodyear Tire & Rubber Co., BioVerde, Huntsman International, Flexsys, Bridgestone, Continental, Parker Hannifin, Synthomer and Promerus.
The funding will also go to workforce development initiatives with regional and statewide educational institutions including the University of Akron, Kent State University, Case Western Reserve University, Stark State College and Central State University.
Signal Akron will continue to report on this story.