INEOS and Plastic Energy announced they will collaborate on the construction of a new plant to convert waste plastic, which will be diverted from landfill and incineration, into raw material to make new plastic. The advanced recycling technology will replace traditional raw materials derived from oil.
Production of the new facility would be targeted for the end of 2023.
The technology will convert waste plastic back to its basic molecules. The resulting material will then be used in INEOS crackers to replace traditional raw materials derived from oil, which will then be used to produce new high-quality polymer.
First trials of the product from Plastic Energy’s current advanced recycling process have been completed. The new raw material has been successfully converted into virgin polymer through the INEOS cracker in Köln, Germany. The plastics made from this trial will now be used by selected customers and brands to demonstrate the benefits of the process.
Plastic Energy’s patented technology called Thermal Anaerobic Conversion (TAC) transforms previously non-recyclable plastic waste into TACOIL. This new recycled raw material could be used by many INEOS sites to produce virgin plastic for use across medical products, food packaging, lightweight automotive parts and pipes for safe water transportation.
Advanced recycling technology makes it possible to produce the final product with an identical specification to virgin material. It removes all contamination so that the resulting polymers can be used in food and medical packaging, where safety standards require the highest level of product purity.
“This represents the delivery of another important milestone in the INEOS sustainability strategy. To take plastic waste back to virgin plastic is the ultimate definition of recycling and will create a truly circular economy solution. This will enable us to offer another opportunity for our customers to help them meet their pledges and commitments in this area,” said Rob Ingram CEO, INEOS Olefins & Polymers Europe.
Carlos Monreal, Founder and CEO of Plastic Energy, said: “We will work jointly to bring this new solution on to the market and respond to the growing demand for high quality recycled content and the growing imperative to increase recycling rates and move towards a circular future for plastics.”