ITOCHU Announces Conclusion of Memorandum with Mitsubishi UBE Cement and Australia's MCi on Manufacturing of Carbon Embodied Product

January 29, 2025

ITOCHU Corporation (headquartered in Minato-ku, Tokyo; Keita Ishii, President & COO; hereinafter “ITOCHU”) announced today that it has concluded a memorandum of collaboration with Mitsubishi UBE Cement Corporation (headquartered in Chiyoda-ku, Tokyo; Makoto Koyama, Representative Director & President; hereinafter “Mitsubishi UBE Cement”) and the Australian company MCi Carbon Pty Ltd (headquartered in Canberra, Australia; Marcus Dawe, CEO & Managing Director; hereinafter “MCi”).

MCi owns a mineral carbonation technology which combines CO2 with waste concrete, steel slag (by-product of iron-making processes) and minerals such as serpentinite and is available for cement alternatives and raw materials for concrete. MCi built one of the world's first demonstrative plants for Carbon Embodied Product manufacturing with a capacity to process multiple raw materials such as waste concrete , steel slag and serpentinite. Built in Newcastle, Australia, the new plant is scheduled to start operating in full scale in 2025. The demonstrative plant is capable to process more than 1,000 tons of CO2 annually and will be used in demonstrations for the construction of commercial plants. By 2028, the company plans to construct one of the world’s largest mineral carbonation commercial plants in Austria with the capacity to process 50,000 tons of CO2 annually.

ITOCHU invested in MCi in July 2021 and has supported MCi’s technological development in collaboration with domestic companies. Coinciding with the conclusion of the memorandum, Mitsubishi UBE Cement made an investment in MCi. Mitsubishi UBE Cement is the second largest cement manufacturer in Japan and possesses advanced knowledge in the development of eco-friendly cement and concrete. Through the memorandum, parties will discuss the construction of a production plant in Japan involving the three companies and seek to build a supply chain of raw material procurement, sales and other capabilities designed for domestic commercialization.

MCi’s technologies allow for CCU* to reduce CO2 emissions and reuse of waste concrete, steel slag and other materials and are expected to contribute to a recycling-oriented society. ITOCHU has put forth a new management policy, “The Brand-new Deal – Profit opportunities are shifting downstream –” and is pursuing a policy of enhancing its contribution to and engagement with the SDGs through business activities" while listening to all stakeholders, including the market, society, and consumers.

MCi’s demonstrative plant in Newcastle, Australia

  • *A technology using separated and collected CO2. CCU stands for carbon dioxide capture and utilization.

Mitsubishi UBE Cement: Company Profile

Company name Mitsubishi UBE Cement Corporation
Headquarters Chiyoda-ku, Tokyo
Business Cement, ready-mixed concrete, limestone resources, environmental energy, construction materials and other related businesses
Established April, 2021
URL https://www.mu-cc.com/en/

MCi: Company Profile

Company name MCi Carbon Pty Ltd
Headquarters Canberra, Australia
Business A clean tech company developing CCU technology to produce low-carbon products, such as building materials, from minerals and industrial waste.
Established 2013
URL https://mcicarbon.com/