Toho Tenax Co., Ltd., the core company of the Teijin Group's carbon fibers business, announced today that it will supply TENAX(r) carbon fiber for compressed natural gas tanks developed and manufactured by Metal Mate Co., Ltd., a leading pressure-vessel manufacturer in Thailand.
Toho Tenax envisions sales of 10 million USD per year under the agreement, which establishes Toho Tenax as the exclusive supplier of carbon fiber to Metal Mate.
TENAX carbon fiber will be used in the production of lightweight, high-capacity tanks of the Type 3 design, which are metal cylinders fully wrapped with fiber-reinforced resin. Metal Mate is the first manufacturer in Thailand to produce Type 3 cylinders made with carbon fiber. The tanks are expected to help meet the growing demand for vehicles powered by compressed natural gas, which are gaining popularity due to their reduced environmental impact.
Toho Tenax markets its high-quality carbon fiber for applications including pressure vessels, aircraft, vehicles and wind-power generators. Going forward, the company intends to expand sales for pressure vessel applications in Asia, especially China and Southeast Asia, as well as Europe and the United States. Annual TENAX carbon fiber sales for pressure vessel applications are expected to reach 50 million USD by 2015.
Toho Tenax also plans to expand sales of TENAX carbon fiber for other industrial applications, including electronic devices, automotive parts and wind-power generators, in the fast-growing markets of Asia.