Lummus Technology, through its Green Circle subsidiary, has announced that it has finalised 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.
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 tpy. This will be the one of first licenses of the proven chemical recycling technology in Europe, and at this scale, the first project will significantly increase the current European chemical recycling capacity.
This agreement accelerates Phigenesis’ delivery of European projects, with the first site to be sized at 150 000 tpy, 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, and will help in the fight against climate change by a direct displacement of oil-derived feedstocks with recycled content. The technology is part of a partnership formed in 2020 between New Hope Energy and Lummus, combining Lummus’ ability to license, scale-up and further develop process technology and New Hope Energy’s operational experience and waste conversion technology.
Green Circle is a leader in commercialising and developing solutions to address all the key pillars of the energy transition, including end-of-life waste plastics recycling, production of bio-derived sustainable chemicals and decarbonisation strategies for existing and new assets.
Phigenesis has plans for developing five similar sized projects in Europe, including feedstock supply, product sales and delivery of engineering. The company’s approach to each project prioritises the use of renewable energies and low emission technologies to ensure a major contribution to net zero is achieved.
Read the article online at: https://www.hydrocarbonengineering.com/petrochemicals/23112021/lummus-signs-agreement-with-phigenesis/