OMV has reached a major milestone in the chemical industry after 15 years of dedicated research and development. The company has successfully launched the next-phase expansion of its innovative ReOil® technology at its Schwechat refinery near Vienna. This new facility is designed to process up to 16,000 metric tons of hard-to-recycle mixed plastic waste per year, equivalent to the annual plastic waste generated by approximately 160,000 Austrian households.

Alfred Stern, OMV’s Chairman of the Executive Board and CEO, emphasized the importance of sustainable and circular materials for the future: “OMV’s chemical recycling technology is a key driver of growth in our Chemicals segment. The launch of the new ReOil plant marks a crucial step in our journey toward climate neutrality, which we aim to achieve by 2050 at the latest. By complementing mechanical recycling, ReOil enables the reintegration of plastic waste that would otherwise remain unrecyclable, closing the loop and fostering a more circular economy. Our Strategy 2030 underscores circularity as a fundamental pillar of our responsible transformation.”

OMV pioneered the development of ReOil in 2009, establishing itself as a global leader in chemical recycling. The technology was designed to enhance plastic sustainability by reintroducing valuable resources into the production cycle, preventing their disposal through incineration or landfilling. ReOil converts post-consumer mixed plastic waste into pyrolysis oil, a critical feedstock for manufacturing sustainable base chemicals. These chemicals serve as building blocks for essential products, such as food packaging, medical supplies, and electric vehicle components.

The environmental benefits of ReOil are significant. By 2030, chemically recycling post-consumer plastic waste in the ReOil plant instead of incinerating it is projected to reduce CO2 emissions by 34%.* The initial ReOil pilot plant at the OMV Schwechat refinery, operational since 2018, has achieved nearly 30,000 cracking hours, successfully processing over 2.1 million kilograms of plastic waste in an environmentally responsible manner. The success of the pilot phase led to the decision to scale up operations, resulting in the construction and launch of this advanced facility. Both ReOil plants have received ISCC PLUS** certification, further validating their sustainability credentials.

Looking ahead, OMV is developing a pioneering full-scale industrial plant for chemical recycling. The final investment decision for this ambitious project is subject to internal approvals. On March 12, 2025, OMV secured up to EUR 81.6 million in EU funding for the industrial ReOil plant, marking the largest public grant ever awarded to the company. This funding represents a significant step toward the large-scale deployment of ReOil technology and OMV’s commitment to a circular and sustainable future.