Texas-based Lummus Technology, a leading provider of process technologies and energy solutions, and Budapest, Hungary headquartered oil and gas corporation MOL Group, are partnering on the implementation of technology for the chemical recycling of plastics at MOL's sites in Hungary and Slovakia.
The companies have collaborated previously in various technology areas. “We are proud to now partner with MOL again to address a critical challenge for our industry and society," said Leon de Bruyn, president and CEO of Lummus Technology.
The focus of the present partnership is the deployment and integration of Lummus’ advanced waste plastic pyrolysis technology at these sites, to enable MOL to fulfill its commitment to drive circularity by converting plastic waste into high-value chemicals and feedstocks.
Over the past few years, MOL has invested in plastics recycling, first with the acquisition of recycled plastics compounder Aurora Kunststoffe and last year with the purchase of ReMat Zrt., a recycler with production plants located in Tiszaújváros and Rakamaz, Hungary, and a logistics hub in Bratislava, Slovakia. Today, with a total annual capacity from both companies of 40,000 tonnes, MOL can offer a wide range of sustainable compounds for various industries, including the automotive, construction, building and packaging sectors. MOL also entered into a strategic partnership with German company APK, whose solvent-based Newcycling process produces high-quality polymers from complex plastic waste. The company's aim is to build a production portfolio of more than 100,000 tons of recycled plastic materials, ultimately to become a key player in the low-carbon circular economy in Central and Eastern Europe.
"MOL Group is actively building a strong plastic recycling and waste integration portfolio as we are aware of its crucial role in the circular economy, and sustainable business models require such mindset that considers everything as raw material and potential energy source,” said Gabriel Szabó, executive vice president of MOL Group Downstream. “The waste plastic pyrolysis technology, and Lummus' expertise will help us to optimize our value chain, and make our business more sustainable."
The technology to be provided by Lummus' Green Circle business unit is a proven, reliable, economically attractive solution to address the global plastic waste problem, which offers additional environmental benefits such as a lower carbon footprint and the elimination of char production. Lummus will also provide its experience and expertise in steam cracking, catalytic cracking and residue processing technology to ensure that integration with MOL's existing assets is optimised.