RCS - Recycling Tech.Group - INEOS STYROLUTION INVESTS IN RECYCLING PILOT PLANT
25/11/2021 14:00
For best results when printing this announcement, please click on link below: http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20211125:nRSY6183Ta&default-theme=true RNS Number : 6183T Recycling Technologies Group Ltd 25 November 2021 Frankfurt, November 25, 2021 INEOS STYROLUTION CONFIRMS ITS INVESTMENT DECISION FOR EUROPE'S FIRST POLYSTYRENE ADVANCED RECYCLING PILOT PLANT · Joint collaboration with Recycling Technologies, UK · Europe's first advanced chemical polystyrene recycling facility is expected to be operational in the second half of 2022 INEOS Styrolution, the global leader in styrenics, has today confirmed its decision to invest into a pilot plant for advanced recycling of polystyrene. The site will be set up in collaboration with Recycling Technologies in Swindon, UK. It is expected to be operational in the second half of 2022. The decision announced today is a significant step forward launching polystyrene recycling through depolymerisation technology. Depolymerisation is an advanced recycling technology that converts polystyrene waste feedstock back into its main building block, Styrene which can then be used to manufacture new polystyrene with identical properties to the virgin material. The unique properties of polystyrene allow this efficient monomer recycling process to be harnessed avoiding the need to downcycle polystyrene. An additional benefit of depolymerisation is a significant decrease of greenhouse gas emissions when compared with the production of virgin polystyrene from naphtha. The Swindon pilot plant will be based on Recycling Technologies' fluidised bed reactor technology, which offers excellent scalability making it the technology of choice for future even larger recycling plants. Dr. Alexander Glück, President EMEA at INEOS Styrolution comments, "I am excited to see this project move ahead. With Recycling Technologies, we have found a partner, who is not only offering a very attractive technology, but who is also sharing our own vision to avoid polystyrene ending up in landfills or being incinerated. We are on the right path to make polystyrene a circular material." Adrian Griffiths, CEO & Founder of Recycling Technologies Ltd., adds, "We welcome INEOS Styrolution's decision and are pleased to be a critical element of the team to build Europe's first advanced chemical polystyrene recycling facility. Harnessing our fluidised bed engineering technology and expertise to recycling polystyrene is a critical step to making polystyrene circular." About INEOS Styrolution INEOS Styrolution is the leading global styrenics supplier, with a focus on styrene monomer, polystyrene, ABS Standard and styrenic specialties. With world-class production facilities and more than 90 years of experience, INEOS Styrolution helps its customers succeed by offering solutions, designed to give them a competitive edge in their markets. At the same time, these innovative and sustainable best-in-class solutions help make the circular economy for styrenics a reality. The company provides styrenic applications for many everyday products across a broad range of industries, including automotive, electronics, household, construction, healthcare, packaging and toys/sports/leisure. In 2020, sales were at 4 billion euros. INEOS Styrolution employs approximately 3,600 people and operates 20 production sites in ten countries. More information: www.ineos-styrolution.com (http://www.ineos-styrolution.com) Follow us on Twitter (@styrolution). Contact Dr. Ralf Leinemann Global Manager PR & Marketing Communications INEOS Styrolution Group GmbH Mainzer Landstraße 50 60325 Frankfurt Germany Phone: +49 69 509550-1366 Email: ralf.leinemann @ ineos.com Website: www.ineos-styrolution.com (http://www.ineos-styrolution.com) About Recycling Technologies About Recycling Technologies UK-based Recycling Technologies Ltd is on a mission to accelerate the evolution of plastic into a more sustainable material. Currently, 88% of the plastic used in the world is either buried, burned or leaked into the environment(1). This means that the world recycles only 12% of the plastic waste produced each year. Recycling Technologies, a research, engineering, and manufacturing company, has developed innovative technologies to turn hard-to-recycle plastic waste including polystyrene and flexible packaging into feedstocks for new plastic production. Our first commercial product, the RT7000, is modular and small-scale, designed to fit easily onto existing waste treatment and recycling sites, providing a scalable solution to recycle waste plastic anywhere in the world. For further information, please visit www.recyclingtechnologies.co.uk (http://www.recyclingtechnologies.co.uk) . (1)McKinsey&Co - How plastics-waste recycling could transform the chemical industry Contact Simon Eaton Crofton Communications Phone: +44 (0)7879617802 Email: simon.eaton@croftoncomms.com This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com (mailto:rns@lseg.com) or visit www.rns.com (http://www.rns.com/) . Reach is a non-regulatory news service. 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