BP and waste-solutions company Brightmark will jointly assess the prospects for the development of plastics renewal plants in Europe.
The cooperation will combine bp’s extensive knowledge and trading experience in refining, and petrochemical markets, with Brightmark’s proprietary advanced recycling technology. The projects will search for opportunities to convert end-of-life waste plastics otherwise destined for incineration, landfill, or export, into valuable petrochemical feedstocks for plastics and other industrial applications.
The two companies plan for the next generation of plastic waste renewal plants in Germany, the Netherlands, and Belgium. Each facility could divert up to 400,000 tpa of waste plastic from disposal to create sustainable products.
For Brightmark, the collaboration would be its way to fulfill its goal to divert 8.4 million tonnes of plastic from landfills and the natural environment and use plastic to produce the feedstock necessary to remake plastics, creating a truly circular solution.
