INEOS Olefins & Polymers Europe and Plastic Energy, have announced a “Memorandum Of Understanding” to produce 100,000 tonnes per annum of recycled raw materials from plastic waste.
INEOS says it will be the largest use of Plastic Energy technology on the market and the new raw materials will enable a circular approach to produce essential plastic items that meet the requirements of demanding food contact and medical applications.
Production will be based in Köln, Germany, where INEOS says Plastic Energy’s patented TAC™ recycling technology will turn difficult-to-recycle plastic waste otherwise destined for incineration or landfill, into a valuable raw material TACOIL™, a Plastic Energy product that can be used to create virgin-quality polymers.
INEOS says it will also invest in technology to process the TACOIL™ further before feeding it to its steam crackers, where it will replace traditional raw materials derived from oil.
Our position is that advanced recycling has to be done at scale to make the process environmentally and commercially viable.
This use of advanced recycling enables plastic waste to be turned into new, virgin-quality materials that can be used in demanding applications where safety standards require the highest level of product purity and performance, the British multinational chemicals company says.
It continues that, as well as reducing the risk of plastic pollution and the use of fossil-based raw materials, the circular reuse of “end of life” plastic will also help to reduce total emissions, supporting the transition to net zero.
INEOS and Plastic Energy first announced a collaboration to explore the construction of a commercial-scale plant in 2020. The two companies say they are now delighted to announce this extension of their partnership, with production targeted for the end of 2026.
CEO, INEOS O&P Europe North, Rob Ingram, said: “Advanced recycling is an essential part of the solution for turning plastic waste into materials that can be used for demanding applications.
“Our position is that advanced recycling has to be done at scale to make the process environmentally and commercially viable. I’m therefore delighted to take this first step with plastic energy towards building that kind of capability from day one.
“This is further evidence of our commitment to creating a more sustainable future for our industry and in particular developing a circular economy that keeps valuable materials in use and out of the environment.”
