Encina Development Group and Flint Hills Resources, a Koch Industries company, have signed a non-binding term sheet for manufacturing renewable chemicals and fuels from waste plastic.
The term sheet contemplates that the parties may enter into a definitive agreement that includes building a waste plastic to renewable chemicals and renewable fuels plant in Corpus Christi, TX.
Flint Hills Resources will market the renewable aromatic products produced at the Encina Corpus Christi facility as well as work with its affiliates to market renewable aromatic products from other Encina U.S.-based plants.
Flint Hills Resources Chemicals senior vice-president Francis Murphy said: “Our work with Encina is an exciting addition to our growing portfolio of renewable product and technology investments.
“Renewable aromatics and bioplastics are playing an increasingly important role in the product value chain and reducing environmental impacts while still delivering on all the various products that make modern life possible.”
Encina Development Group executive director David Schwedel said: “Flint Hills Resources is an excellent partner for Encina. They have deep domain industry expertise, and an aligned focus on delivering highly-valued and sustainable products to the marketplace.”
The Corpus Christi refineries are owned and operated by Flint Hills Resources and are major suppliers of fuels for the Texas market including the San Antonio, Austin, and Dallas-Ft. Worth areas. In addition, the refineries produce various commodity chemicals that are important building blocks for a variety of products used in daily life.