Lummus Technology, through its Green Circle subsidiary, announced that it has finalized a Letter of Intent (LOI) with Phigenesis, a UK-based company established to deliver ISCC+ certified renewable chemical feedstock for use in existing petrochemical plants to manufacture virgin grade plastics, suitable for all grades of application.
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Under the agreement, Phigenesis will deploy the Lummus New Hope Plastics Pyrolyisis Technology for a new chemical recycling facility with a capacity of 150,000 tonnes per annum. This will be the first license of the proven chemical recycling technology in Europe, and at this scale, the first project will significantly increase the current European chemical recycling capacity.
“Lummus tech has tremendous focus on providing innovative solutions to the marketplace that promote the global energy transition. Our technology for advanced chemical recycling of plastic waste is just one of the many pathways we are deploying to support this global effort,” said Leon de Bruyn, President and Chief Executive Officer of Lummus Technology. “We are extremely proud to support Phigenesis’ overall plan to deliver these units to the European market and thus to make a significant contribution to eliminate plastic waste.”
“Phigenesis is committed to delivering meaningful volume contributions to the circular and low emission economy, using significant quantities of otherwise unrecycled and incinerated waste plastics to produce feedstock for petrochemical facilities to make plastics, displacing virgin materials,” Chris Moore, Chief Executive Officer of Phigenesis said. “We are delighted Lummus Technology is partnering with Phigenesis, enabling us to deploy the Lummus New Hope Plastic Pyrolysis Technology at a scale attractive to this evolving market.”
This agreement accelerates Phigenesis’ delivery of European projects, with the first site to be sized at 150,000 tonnes per annum, using proven operating technology.Based on the Lummus New Hope Plastics Pyrolysis process, the new facility will allow for a significant reduction in the carbon emissions compared to plastics waste incineration and virgin polymers production,