Italy: Italian companies Saipem and Garbo have recently announced a partnership dealing with the commercialization of the ChemPET technology. This ground-breaking process can convert waste PET into premium quality PET that can be used in both chemical and food industries. Coming soon, an industrial-scale chemical recycling plant will be up and running in Cerano, Novara - marking this as the very first built in Italy. This collaboration will no doubt bring about great benefits for both the environment and business alike.
Saipem, the Milan-based company, has recently partnered with ChemPET to consolidate their technology leadership in chemically recycled PET. Through this agreement, two 22,500 t/y units in Cerano and the proprietary technology have been licensed for industrialization on a global scale.
This marks the second venture into plastic recycling that Saipem has undertaken; last August, the company had signed a Memorandum of Understanding with Quantafuel - a Norway-based firm specialising in pyrolysis technology - to collaborate on construction and industrialisation of chemical recycling plants.
Quantafuel, an Oslo-based company, recently made a strategic move to secure long-term financing for the large-scale roll-out of its chemical recycling plants. Last month, Viridor - a UK-based waste management company - came in with a formal offer to buy Quantafuel for approximately £90 million and added capital to support the projects. This bold decision will enable Quantafuel to move forward with their mission of environmental sustainability.
BASF recently invested €20 million in Quantafuel and secured the right of first refusal to all pyrolysis oil and purified hydrocarbons from the company's chemical recycling plant located in Skive, Denmark. The plant officially opened its doors at the end of 2019, marking a milestone for both BASF and Quantafuel.
