Waste plastic pyrolysis project restarts as pandemic restrictions ease

Clean-Seas, a subsidiary of Clean Vision Corporation, and London-based Roselle Capital announced that they have reached an agreement to form a joint venture that will collaborate to deploy Clean-Seas' pyrolysis technology in Asia to convert waste plastics into valuable materials commodity or clean energy
.

As an independent private equity firm, Roselle Capital is actively developing the Sabah Wellness Place medical facility, which spans three regions including Malaysia, the Caucasus nation of Georgia and the United Arab Emirates
.
The facilities are being designed with zero-emission concepts, including green energy and value-added transformation of plastic waste
.

Under the terms of the definitive joint venture agreement, Roselle has asked Clean-Seas to develop a proposal to implement the pyrolysis technology in Malaysia and Georgia for installation at the Wellness Place clinic in Sabah and elsewhere in these countries
.

In 2020, Clean-Seas had submitted an initial proposal to the Malaysian national government, which was subsequently shelved due to the restrictions imposed by the outbreak
.

The company has now updated and resubmitted this proposal and a similar proposal to the Georgian government
.
If the proposal is accepted, Roselle will provide financing for the project, and both parties will share the project profits equally
.

Dan Bates, CEO of Clean Vision, said: "We have long been committed to converting waste plastics into valuable commodities or green energy through our industrial-scale pyrolysis technology plants and plan to tap into an estimated $7 billion Asian market
.
"

“2021 will soon be a breakout year as business and tourism reopen globally, and Roselle’s enthusiasm for financing and helping our programs in Asia come to fruition
.
In addition,” Bates said, “we New business plans for clean oceans in New England are continuing to gain traction
.
"

The market opportunities for the pyrolysis of waste plastics in Asia are both timely and huge
.
Asia is working towards a total ban on the illegal disposal of plastics in ecologically sensitive or ecologically fragile areas, including tourist areas near oceans, rivers, lakes, wetlands, or other bodies of water and mountains, in order to protect coastal, marine and mountain ecosystems and resources, while at the same time Keep in mind the widespread plastic waste that affects ecosystems
.

Furthermore, as pointed out by Shaun Wootton, senior principal at Roselle Capital, for countries such as Georgia and Malaysia, the environment plays an important role in their growing ecotourism and other tourism industries
.

He added: "Countries like Malaysia and Georgia are quite sensitive to this issue, and the ability to build factories that convert waste plastics into commodities or energy - with a solid ROI and a short payback period - makes the difference with Clean -The Seas partnership becomes a win-win proposition
.
"

A report by McKinsey & Company supports this view
.
According to the report, “plastic reuse and recycling could add up to $60 billion in profit pool growth to the global petrochemical and plastics industries, a fourfold increase
.
” In this global market, pyrolysis is the largest process link, accounting for 25.
4%, more than double that of the second-ranked monomer recycling
.