Viridor and PLASTIC ENERGY Sign MoU to Build Plastic Recycling Facility
Viridor and PLASTIC ENERGY have signed a Memorandum of Understanding (MoU) and commenced feasibility work to develop a new project which would seek to return up to 30,000 tons of previously unrecycled plastic to the economy every year and priorities resource and energy efficiency.
If successful, the project is expected to be finalized by the end of 2023.
Circular Economy Collaboration
The project would represent a ground-breaking UK circular economy collaboration, integrating with Viridor’s polymers investments to deliver a more complete plastics recycling solution.
Viridor would provide predominantly low-density plastic film - a stream traditionally not recycled due to contamination - to a PLASTIC ENERGY chemical recycling plant. This project envisages a plant co-located with a Viridor energy recovery facility, allowing PLASTIC ENERGY to draw low-carbon electricity generated from the process Viridor uses to put non-recyclable waste to work as a fuel source.
The chemical recycling facility would be owned, developed and operated by PLASTIC ENERGY. The recycled oils (TACOIL) produced from the plastic waste would be used as a feedstock to create virgin-quality recycled plastic material in collaboration with the chemical industry.
Achieving Green Economy Goals
Phillip Piddington, managing director of Viridor, said, “This project is further evidence of Viridor’s ongoing commitment to investment and innovation to push the boundaries of what is recycled and reprocessed in the United Kingdom. We are very proud to be working with Plastic Energy to develop a project which further demonstrates how all waste can be considered a resource and not rubbish and that collaboration is the key to achieving our green economy goals.”
Carlos Monreal, founder and CEO of PLASTIC ENERGY, said, “We are delighted to support the development of an integrated site with Viridor in the UK and provide a solution for plastics previously not recycled. Chemical recycling will support government’s goal to move towards a circular economy and to increase recycling rates for plastics, effectively making plastic waste a valuable resource.”