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Under the agreement, the plastic recycling plant jointly established by Honeywell and Sacyr in Andalusia, Spain, will provide Total Energy with recycled polymer feedstock (RPF) produced by Honeywell's UpCycle process technology
(NASDAQ: HON)
Owned by a joint venture between Honeywell and Sacyr, the plastic recycling plant uses the UpCycle process technology to convert 30,000 tons of mixed waste plastic into recycled polymer feedstock each year, saving it from landfill or incineration
.
The project is expected to start production in 2023, and the recycled polymer feedstock produced will be used to manufacture high-quality polymers at Total Energy's production sites in Europe
This project program marks the beginning of a collaboration between Honeywell and Total Energy in the field of advanced plastic recycling
.
The two parties will work together to tackle the problem of waste plastics and promote circular economy and sustainable development in Europe and around the world
"As demand for plastics continues to grow, it is critical to strengthen the circular flow of plastics to close the loop between waste plastic management and plastic production,
" said Ben Owens, vice president and general manager of Honeywell's Sustainable Technology Solutions business.
“Total Energy will serve as a strong partner to expand the use of recycled polymer feedstocks
“We are delighted to work with Honeywell to address the issue of waste plastics by developing advanced plastic recycling technologies to drive a circular economy and achieve sustainable development
,” said Valérie Goff, Senior Vice President, Polymers, Total Energy.
The project, which is expected to start production in 2023, will contribute to Total Energy's goal of producing 30% of recycled and renewable polymers by 2030.
Honeywell UpCycle process technology is developed by Honeywell Sustainable Technology Solutions, a division of Honeywell UOP
.
This state-of-the-art technology follows Honeywell's commitment to delivering high-impact, sustainable environmental solutions for customers and society
Honeywell's UpCycle process technology uses industry-leading molecular conversion, pyrolysis and pollutant management technologies to convert waste plastics into recycled polymer feedstocks that are then used to make new plastics
.
The UpCycle process technology significantly broadens the range of recyclable plastics to include otherwise unrecyclable waste plastics such as colored, flexible, multi-layer packaging or polystyrene
