Waste Plastic Upcycling (WPU) A/S has welcomed an initiative from Vitol to engage in negotiations for a research and development of WPU proprietary technology. The aim of this research and development will be to further broaden the product portfolio offered by WPU and enrich the subsequent treatment by Vitol creating more valuable products.
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Key Highlights
- Negotiations for research and development into recycling technology
- New developments ay include construction of upcycling facility
- Parties positive about negotiations
- WPU´s circular Batch process can upcycle dirty consumer- and industrial plastic
The Research and Development cooperation may include construction of an upcycling facility based on WPU proprietary technology but financed by Vitol. WPU says they welcome this initiative and looks forward to the negotiations and will update on significant developments.
Tom Baker, Global Head of Naphtha trading at Vitol said: “Meeting the timeline for construction of the Fårevejle facility is a notable achievement. Vitol believes that the WPU proprietary process technology will make a significant impact in the future plastic waste upcycling industry.”
Niels Stielund, Chairman of Waste Plastic Upcycling A/S added “The strength and power of the Vitol - WPU cooperation has once again demonstrated its value. The WPU technology with its Low CAPEX and High Capacity is very suitable for fast scaling to match the global presence of Vitol.”
The first plastic waste has arrived in Fårevejle
The first trucks with plastic waste arrived at the WPU Fårevejle facility – ready to be upcycled as it is. The entire pallets can be loaded directly into the WPU Batch system as it is, including steel bands and wrapping material.
WPU´s circular Batch process can upcycle dirty consumer- and industrial plastic without any special pre-treatment and with a huge saving of CO2 compared to incineration – for a greener World.