ENEOS and Mitsubishi Chemical to launch plastic-to-oil unit
ENEOS Corporation and Mitsubishi Chemical Corporation (MCC) have decided to launch a joint Plastic-to-Oil Conversion business at the MCC Ibaraki Plant. The two companies plan to construct a commercial chemical recycling facility at the plant. The facility will have an annual processing capacity of 20,000 tons, which will be the largest-scale in Japan on a commercial basis. The commencement of the operation is planned for Fiscal Year 2023.
In 2019, ENEOS and MCC established the Kashima Complex LLP and are studying further collaboration in the refining and the petrochemical business in the Kashima district, Ibaraki Prefecture. As part of those activities, they have studied the chemical recycling business, including a technical review, since they recognize that the waste plastic issue should be solved globally by establishing the circular economy. The agreement is the outcome of these considerations.
In this joint business, waste plastic procured externally will be chemically liquefied in the new facility, which has installed the supercritical water treatment technology from Mura Technology of the UK, to convert plastic to oil. The oil from the waste plastic will be used as a raw material at both companies’ existing refinery and naphtha cracker. The two companies aim to realize a highly-efficient chemical recycling by reprocessing the oil to petroleum products and various plastic products.
Both companies plan to achieve high added value for products, through the stable procurement of waste plastic, the installation of certifications related to a circular economy, and further acquisition of technical knowledge as a next-generation business.
This initiative is consistent with United Nations Sustainable Development Goals (SDGs) 12. Responsible Consumption and Production.