KBR (NYSE: KBR) announced that plastics circularity it has signed a contract with Hyundai Engineering Company (HEC) Ltd to supply proprietary equipment for the first modular plant for its leading advanced plastics recycling technology Hydro-PRT®.
The plant will be installed at LG Chem’s
Chronos Project in Dangjin, South Korea.
Displaces Virgin Fossil Equivalent
Under the terms of the contract, KBR will supply its proprietary modular solution to HEC for a 20,000 tons per annum plastics recycling unit planned for the Chronos project. This award follows LG Chem’s licensing of KBR’s Hydro-PRT® technology last year.
“We are honored that LG Chem has selected our modular solution for the Hydro-PRT® unit at Dangjin,
” said Doug Kelly, KBR president, Technology. “Our proprietary modularization solutions deliver inherent cost, scalability, schedule, and safety advantages and we look forward to a successful implementation to help LG Chem accelerate attainment of its ESG objectives.
KBR and Mura's Hydro-PRT® process converts waste plastics into raw materials for new plastics, achieving total circularity. A recent report published by the European Commission’s Joint Research Centre shows this proprietary technology to be the best performing for resource use across mechanical, chemical and energy recovery processes and produced the highest yield of hydrocarbon products to displace virgin fossil equivalent. As the global economy transitions away from traditional fossil fuels, Hydro-PRT® delivers significant environmental benefits and enables our clients to achieve full plastics circularity. Related read: Plastic Recycling Innovation: Materials, Technologies, Applications Update