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.”
NOVA Chemicals recently announced its aspiration to reach 30 per cent recycled content as a share of its total polyethylene sales by 2030 in its Roadmap to Sustainability Leadership, including its commitment to build a state of the art mechanical recycling business and continue exploring world-leading and proven advanced recycling technologies. If built, this new facility would see NOVA Chemicals build on its already CAD 2 billion investment into Ontario to inject additional new technology, jobs, and long-term viability into the local and Canadian economies.
About NOVA Chemicals Corporation
NOVA Chemicals aspires to be the leading sustainable polyethylene producer in North America. Our driving purpose is to reshape plastics for a better, more sustainable world by delivering innovative solutions that help make everyday life healthier and safer and acting as a catalyst for a low carbon, zero-plastic-waste future. NOVA Chemicals’ innovative and quality product offerings, value chain collaboration, and unique customer experience is what sets us apart; our customers use our products to create easy-to-recycle and recycled content films, packaging, and products. Our employees work to ensure health, safety, security, and environmental stewardship through our commitment to Sustainability and Responsible Care®.
NOVA Chemicals, headquartered in Calgary, Alberta, Canada, has nearly 2,500 employees worldwide and is wholly owned by Mubadala Investment Company of the Emirate of Abu Dhabi, United Arab Emirates.
About Plastic Energy
Plastic Energy is a global leader in advanced recycling, offering a sustainable solution to help prevent plastic waste, transforming previously unrecyclable plastic waste into a valuable resource. Our patented and proven advanced recycling technology converts end-of-life plastic waste into an optimal feedstock (TACOIL™) for making virgin-quality recycled plastics. Plastic Energy currently has two chemical recycling plants that are in constant operation in Spain and is one of the few companies worldwide that has sold TACOIL™ from the conversion of end-of-life plastic waste to replace fossil oils in the manufacturing of new plastics. We are leading our field in the transition to a low-carbon circular economy for plastics. Learn more on our website at www.plasticenergy.com.