OSLO, NORWAY: Saipem and Quantafuel ASA have signed a Memorandum of Understanding (MoU) to collaborate in the industrialization and construction of waste plastics chemical recycling plants based on Quantafuel technology.
This MoU positions Saipem to globally market and construct under Quantafuel technology license industrial plants specialised in pyrolysis.
This thermochemical process converts solid plastic waste into liquid or gaseous products that can be reused as fuel or chemical raw materials for plastics recycling. Furthermore, Saipem will provide intelligent smart operation and maintenance services, as well as joint performance guarantees for the plants, jointly issued by both companies.
On the basis of the agreement scalable and modular solutions for waste plastics recycling plants will be developed, which will be easily adapted to the specificities of the different sites.
The technological solution offered will allow users to increase the utilisation of mixed plastic waste in the production of a pyrolysis oil that can be reused for new chemical and plastics production.
Through this cooperation with Quantafuel, Saipem will deliver globally one of the first modular concepts for the circular economy, supporting its clients on their sustainability path also with this innovative plastics recycling solution.
Saipem and Quantafuel are committed to delivering a series of projects to the market with this agreement, allowing both parties to pursue their respective objectives in the circular economy to maximise the benefits for the environment.
With the agreement, Quantafuel will strengthen its project implementation capabilities worldwide and add the licensing approach to its existing business plan of building, owning and operating pyrolysis plants, creating additional opportunities to commercialize its technologies.
Therefore, Saipem and Quantafuel are making a significant step towards the promotion of a regenerative model aimed at contributing to the achievement of Net Zero targets through the reduction and the subsequent valorisation of waste by plastics chemical recycling, thus maximising the benefits for the environment.