SABIC and Plastic Energy sign circular economy MoU
Complementary to its partnership with the EU and the circular economy initiative, Saudi Arabian petrochemical giant SABIC has signed an MoU with chemical recycling experts Plastic Energy to supply recycled plastics waste for production facilities in Europe.
Frank Kuijpers, General Manager for Corporate Sustainability at SABIC in the Netherlands, said: “Sustainability is a core value at SABIC and the circular economy is a cornerstone of our strategy as evidenced by this unique agreement. 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.”
Plastic Energy has developed a technology to return contaminated plastics due for incineration or landfill back into usable feedstock. The waste product is melted in an oxygen-free environment and broken down into synthetic viscous oils that can be refined and upgraded.
Carlos Monreal, President and CEO of Plastic Energy, said: “We are delighted to be working with SABIC on this exciting project to support their petrochemical operations in Europe. We already have two industrial plants in Spain operating 24/7 and a technology team with more than 10 years of experience 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 is a partner in several European recycling initiatives, including a co-operation with the UK’s Waste and Resources Action Programme (WRAP).