Lummus Technology, LLC, and New Hope Technologies cooperate to market and further developing plastic-waste conversion technology based on thermal pyrolysis.
The agreement is part of Green Circle, Lummus’ new business entity that offers sustainable solutions including converting plastic waste to value-added products, production of chemicals and fuels from biomass, and decarbonization of refinery and petrochemical assets.
Under the agreement, Lummus’ Green Circle LLC will be the exclusive licensing party for this technology and will provide studies, basic engineering, technical services, and proprietary equipment as part of the technology transfer package.
The technology will enable an optimized investment cost and which lead to higher returns for converting plastic waste.
The cooperation will help to decrease plastic waste through integrated processing solutions for turning end-of-life plastics into pyrolysis oil. The partnership will create industrial-scale waste plastic to circular chemical plants to address the over one million tons of plastic impacting the environment daily.
