Ulsan ARC plastic recycling complex : SK Geo Centric, Plastic Energy join forces for recycling plant in South Korea
SK Geo Centric, an arm of SK Innovation, and Plastic Energy, a specialist in plastic pyrolysis, have partnered to construct the Ulsan ARC plastic recycling complex in Ulsan, South Korea.
Under the licensing agreement, the pyrolysis plant Ulsan Advanced Recycling Cluster (ARC) will deploy Plastic Energy’s advanced pyrolysis technology and will have an annual capacity of 66,000 tonnes of end-of-life plastic waste input.
The British company’s proprietary TAC process recycles plastics into a feedstock called Tacoil, which is used to make clean recycled plastics.
Na Kyung-soo — SK Geo Centric CEO, commenting on the Ulsan ARC plastic recycling complex, said: “It is very meaningful to have secured the key technology for recycling plastic, which can contribute to greenness and carbon reduction…”
“We will do our best to continue strategic partnerships with global companies with core capacities and create Ulsan ARC smoothly.”
SK Geo Centric and Plastic Energy have also entered into a strategic partnership to build new advanced recycling plants in certain nations across Asia, following Ulsan in the Seoul metropolitan area, China, Japan, and other countries.
SK Geo Centric, Plastic Energy join forces for Ulsan ARC plastic recycling complex in South Korea. Photo courtesy of SK innovation Co., Ltd.
Commenting on the Ulsan ARC plastic recycling complex, Bruno Guillon — Plastic Energy Chief Commercial Officer, said: “We are excited to have been chosen to be part of the Ulsan ARC, and to have established this strategic partnership with SK Geo Centric to develop advanced recycling projects in Korea and across Asia.”
“SK Geo Centric has a unique vision for the role that plastic recycling can play in the petrochemicals business, and is leading the way building a greener and more sustainable business model for this industry in Asia.”
The construction of the Ulsan ARC plastic recycling complex will begin this year and is currently expected to be completed in 2025.
In addition to Plastic Energy, SK Geo Centric has roped in US-based PureCycle Technologies and Canada-based Loop Industries for advanced chemical recycling technologies.
In October 2022, SK Geo Centric and PureCycle Technologies, with 50/50 ownership, agreed to jointly invest in building a polypropylene purification plant with an annual capacity of up to 60,000 tons in Ulsan, South Korea.
SK Geo Centric, on other hand, formed a depolymerization technology partnership with Loop Industries.