INEOS and Plastic Energy have agreed to collaborate in constructing a new plant to convert waste plastic into raw material to make new plastic. The new facility would be operational by the end of 2023.
Plastic Energy’s proprietary Thermal Anaerobic Conversion (TAC) technology turns previously unrecyclable plastic waste into TACOIL. The resulting material is then used for replacement of conventional oil-derived raw materials in INEOS crackers to produce virgin plastic for use across medical products, food packaging, lightweight automotive parts and pipes for safe water transportation.
First product results from the new advanced recycling process at Plastic Energy have been completed. At the INEOS cracker at Köln, Germany, the new raw material was successfully converted into virgin polymer. Selected consumers and brands will now use the plastics made from this trial to highlight the benefits of the process.
Advanced recycling allows the finished product to be manufactured with an equivalent specification to virgin material. It eliminates all contamination so that the resulting polymers can be used in food and medical packaging where highest degree of product purity is required for safety standards.
Rob Ingram CEO INEOS Olefins & Polymers Europe said, “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.’
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.”