Sabic signs memorandum of understanding with Plastic Energy
"Sustainability is a core value at Sabic and the circular economy is a cornerstone of our strategy as evidenced by this unique agreement", said Frank Kuijpers, General Manager for Corporate Sustaina-bility, Sabic. "Sabic is proud to be the first petrochemical company to implement a project for the chemical recycling of challenging plastic waste into feedstock for steam crackers. This exciting project is testament to our commitment to scale up advanced chemical recycling processes of plastics back to the original polymer."
"We are delighted to be working with Sabic on this exciting project to support their petrochemical operations in Europe", said Carlos Monreal, Founder and CEO of Plastic Energy. "We have already two industrial plants in Spain operating 24/7 and a technology team with more than 10 years of expe-rience developing this patented technology. Our advanced expertise will promote this new opportunity to turn plastic back into plastic as part of the circular economy."
Plastic Energy has successfully commercialised a patented thermochemical conversion technology to convert a wide range of end-of-life, dirty and contaminated plastics, hardly recyclable for conventional processes, into usable feedstock. Plastics are melted in an oxygen free environment and then broken down into synthetic oils at which point the oils need to be refined and upgraded as feedstock for traditional petrochemical uses.