The new company, Lux-on, aims to use carbon dioxide as a raw material for producing PHA biopolymers.
Umbrella agreement with the LU-VE Group will see the sale of the majority of Alfa Laval’s Greenhouse division.
The investments include a commitment to long-term storage and the construction of a new road loading rack at the Canvey Island storage terminal.
The companies will build a plant to refine and upgrade a feedstock made from low quality, mixed plastic waste.
The company has entered an agreement with Corycos Group and closed on its first sale in the country.
The majority of capital will be directed towards the company’s Heartland Petrochemical Complex, alongside NGL processing and storage.