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.
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This will be the largest use of Plastic Energy technology on the market. These 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.
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 will also invest in technology to process the TACOIL further before feeding it to their steam crackers, where it will replace traditional raw materials derived from oil.
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.
As well as reducing the risk of plastic pollution and the use of fossil-based raw materials, the circular re-use of ‘end of life’ plastic will also help to reduce total emissions, supporting the transition to net zero.
Working together TACOIL has already been successfully converted into virgin-quality polymer through the INEOS cracker at Köln, Germany, and used by selected customers and brands to demonstrate the viability and demand for materials from advanced recycling.
Production is targeted for the end of 2026.
Using a mass balance approach, an independent, third-party organization such as ISCC or RSB will certify that fossil-based feedstocks have been substituted by the new, recycled materials and ensure that recycled benefits are being accounted for correctly.
A mass balance approach enables co-processing of circular and fossil feedstocks, a key step in the transition to a circular economy. ■