Nova and Plastic Energy Launch Feasibility Study on Advanced Recycling Plant
NOVA Chemicals Corporation (“NOVA Chemicals”) and Plastic Energy have entered into an agreement to explore the feasibility of developing a pyrolysis-driven advanced recycling facility in the Sarnia, Ontario, region. If constructed, the facility would be the largest of its kind in Canada with a potential initial capacity of 66kt per annum.
“Post-use plastics offer tremendous value to furthering the circular economy, and our teams at NOVA Chemicals work daily to innovate new and collaborative ways to extend the lifecycle of our products and plastic packaging,” said Greg DeKunder, VP, NOVA Circular Solutions. “This agreement with Plastic Energy is a prime example of two companies working together to create timely, effective, and sustainable solutions that will help us make progress towards our 2030 recycled plastics ambitions, while diverting hard-to-recycle segments of plastic waste away from landfills.”
Plastic Energy is one of the world’s leading advanced recycling technology companies through use of its patented TAC™ process to treat post-consumer plastic waste. Recycled polyethylene manufactured using Plastic Energy-produced feedstock, called TACOIL™, has identical properties to virgin polyethylene and can be used in food contact and high-performance applications, helping manufacturers and packagers achieve their recycled content goals. Plastic Energy has two commercial recycling plants in Spain that have been in operation for seven years, alongside new projects in Europe and Asia.
“We are pleased to sign this agreement with NOVA Chemicals to explore the scope for our first advanced recycling project in Canada,” said Carlos Monreal, Founder and CEO of Plastic Energy. “Advanced recycling will continue to be important for the North American market by providing a solution for incorporating recycled content into food-grade packaging. Together with NOVA Chemicals, we aim to reduce the amount of plastic waste ending up in landfills, incineration, or as leakage into the environment, which is important for the circular economy in Canada.”