Chemicals company LyondellBasell is to receive a grant of €40m from the European Union Innovation Fund to support the development of a demonstration plant for an advanced recycling process for plastic waste at its petrochemicals complex in Wesseling, Germany. The single-train chemical recycling facility is to process up to 50,000 tonnes of post-consumer plastic packaging waste per year. LyondellBasell made its final investment decision for the catalytic advanced recycling plant for polyolefins which is based on its "MoReTec" technology in November.
Among the technology's innovative features is the electrification of the core reaction process, which would allow it, at least in theory, to be powered entirely using renewable energy. In addition, this enables the pyrolysis gas, which is typically consumed as a fuel, to be recovered as well for use as a feedstock for polymer production, according to LyondellBasell.
"We are delighted with the EU Innovation Fund support for the development of our MoReTec technology,” said Jim Seward, EVP and Chief Innovation Officer. "Investing in our first industrial-scale advanced recycling demonstration plant will provide us with valuable operating experience and additional technological know-how needed to scale-up and fully commercialise our MoReTec technology."
According to LyondellBasell, the EU funding was awarded as part of the Innovation Fund's third call for large-scale projects and was one of 41 projects chosen to receive a total of around €3bn in financial support in this round. The Innovation Fund is a tool of the European Green Deal Industrial Plan and is financed by revenues from the auctioning of allowances from the EU Emissions Trading System (EU ETS).