CHEMICAL MANAGEMENT, PRODUCTS AND TECHNOLOGIES
Businesswire | March 27, 2023
New Energy Risk a wholly owned division of Paragon Insurance Group, and Green Circle, a wholly-owned division of Lummus Technology, announce a strategic partnership in which NER will serve as the preferred insurance supplier for Green Circle’s advanced waste plastic recycling technology.
Upon completing a thorough due diligence process, NER is prepared to provide technology performance insurance solutions to plant owners and operators who license Green Circle’s advanced waste plastic recycling technology. Since 2013, NER’s performance insurance has enabled the financing of over $3 billion for development of new and renewable clean energy technologies and other circular economy projects.
“NER provides an extremely valuable service to project owners looking to deploy early-stage technologies at scale through project finance,” said Greg Shumake, Managing Director of Green Circle. “They thoroughly evaluated our advanced waste plastic pyrolysis technology and are confident in its commercial viability. And as a result, it will be easier for our clients to develop bankable projects to drive a more circular economy.”
The waste plastic pyrolysis technology uses a thermochemical process for turning end-of-life plastics into a high-quality product that can be used to reduce the carbon intensity in the production of both transportation fuels and circular plastics. Green Circle is working across the sector, from Fortune 500 companies to independent project developers, to deploy technologies that close the loop of the plastic product lifecycle.
“Green Circle’s advanced waste plastic pyrolysis technology has been developed with a level of expertise and discipline that is rare,” said Brad Price, Managing Director of Technical Due Diligence at New Energy Risk. “We are proud to help accelerate the adoption of this technology by providing assurance to owners and investors that this technology will perform.”
Green Circle concentrates and expands Lummus Technology’s capabilities to capture new opportunities in the energy transition and circular economy. Green Circle is a leader in providing economically and technically sound solutions to: process solid wastes containing plastics; process various renewable bio-based feedstocks to value-added chemicals, polymers and fuels; decarbonize refinery and petrochemicals assets; and expand production of blue hydrogen and biofuels.
About Lummus Technology
Lummus Technology is the global leader in developing technology solutions that make modern life possible and focus on a more sustainable, low carbon future. We license process technologies in clean fuels, renewables, petrochemicals, polymers, gas processing and supply lifecycle services, catalysts, proprietary equipment and digitalization to customers worldwide.
CHEMICAL TECHNOLOGY, CHEMICAL MANAGEMENT
Danimer Scientific | March 09, 2023
Danimer Scientific, Inc. commends the City of Jacksonville for its newly launched pilot program offering organic recycling solutions to restaurants in the Riverside and Avondale areas. Sunshine Organics and Compost, also known as Compost Jax, is partnering with the city to execute the six-month program.
After receiving training on proper diversion procedures, restaurants will have their food waste collected and delivered to the Sunshine Organics and Compost facility by the city every week for six months as part of the program launched on March 1. The accumulated food residues will be transformed into nutrient-rich compost that can be used to replenish soils and support the growth of more food.
Most of Northeast Florida's food waste is in landfills, making up a considerable portion of solid waste. As organic waste decomposes in landfills, it produces hazardous methane that can contribute to climate change. Industrial composting, on the other hand, provides an eco-friendly way to treat organic waste, such as food waste, yard waste, and other organic matter, potentially lengthening the lifespan of landfills by years.
Sunshine Organics and Compost is authorized to process food and yard waste and can accept certified industrially compostable products, including Danimer Scientific's Nodax® PHA. This makes it different from other composting operations in the Jacksonville region. The Nodax® PHA created by Danimer Scientific is appropriate for food packaging applications because it has FDA approval for food contact and can decompose without generating any pollution.
About Danimer Scientific
Danimer Scientific is a biopolymer manufacturer that creates sustainable and eco-friendly materials. The company uses natural resources like canola, corn, and other plant-based oils to develop compostable, biodegradable products that replace traditional plastic materials. Its products are designed to reduce waste and promote sustainability, and its technology has applications in various industries, including food packaging, textiles, and more. Danimer Scientific is headquartered in Bainbridge, Georgia, and is committed to reducing the negative impact of plastics on the environment and creating a cleaner, more sustainable future.
CHEMICAL MANAGEMENT, PRODUCTS AND TECHNOLOGIES
PureCycle Technologies | March 21, 2023
PureCycle Technologies and Mitsui & Co. Ltd. announced a signed heads of agreement (HOA) to develop and operate a polypropylene (PP) recycling plant in Japan. Mitsui is a global trading and investment company with a diversified business portfolio based in Tokyo. In September of 2021, the two sides announced a signed memorandum of understanding.
The two sides are targeting completion of a plant in 2026. The first plant is designed to transform PP waste into an ultra-pure recycled resin and expected to have an annual capacity of 59,000 metric tons.
PureCycle CEO Dustin Olson said, "We need strong global partners like Mitsui to solve the global plastic waste crisis. This HOA is a major step forward in the process of bringing a true circular solution to Japan for polypropylene plastic waste. The final options for site locations are located between major population and industrial centers, so we can optimize supply chain activities for both feed and product. We believe this site will become a strategic sustainable supply location for critical Japanese industries like automotive, electronics, and consumer product companies."
PureCycle uses a patented technology that can remove virtually all contaminants, colors and odors from polypropylene plastic waste and transform it into an ultra-pure plastic resin that can be used multiple times.
Chief Operating Officer of the Performance Materials Business Unit at Mitsui Hiroshi Kakiuchi commented, "Mitsui has identified 'sustainability management and the evolution of ESG' as key areas of its Corporate Strategy. Through this new joint project with PureCycle, Mitsui aims to contribute to the overall reduction of plastic waste and the establishment of a circular economy in Japan. By securing plastic waste as the raw material, manufacturing recycled polypropylene resin, and expanding the applications of the material for consumer goods, food containers and automobile interiors, Mitsui aims to make a significant contribution to the creation of the more sustainable society."
This is the latest example of PureCycle's global-growth strategy. Earlier this year, the company announced the site of its first polypropylene recycling facility in Europe at the Port of Antwerp-Bruges' Next Gen District in Belgium. PureCycle's first PP recycling plant in Asia is planned to open in 2025 in South Korea.
About PureCycle Technologies
PureCycle Technologies LLC., a subsidiary of PureCycle Technologies, Inc., holds a global license for the only patented solvent-driven purification recycling technology, developed by The Procter & Gamble Company (P&G), that is designed to transforms polypropylene plastic waste (designated as No. 5 plastic) into a continuously renewable resource. The unique purification process removes color, odor, and other impurities from No. 5 plastic waste resulting in an ultra-pure recycled (UPR) plastic that can be recycled and reused multiple times, changing our relationship with plastic.