SK Global Chemical, a global petrochemical subsidiary of South Korea headed industry group SK Innovation, and US-headed waste solutions provider Brightmark LLC has announced the signing of a Memorandum of Understanding (MoU) to create a partnership that aims to take the lead in the circular economy of plastic by the construction of a commercial scale waste plastic renewal plant in South Korea.
According to a joint statement, the companies will utilize Brightmark’s plastics recycling technology and confirm its commercial viability with aim of forming a joint venture to develop, finance, construct, and operate a facility in South Korea with 100 000 tonnes of annual capacity in pursuit of “plastics-to-plastics” circular economy.
Dubbed “plastics renewal”, Brightmark’s proprietary pyrolysis technology has, according to the company, the ability to recycle all types of end-of-life plastic (ELP) waste – including the most difficult to recycle plastics.
The MoU makes SK Global Chemical the partner for Brightmark in South Korea to help resolve the plastic waste issue, a growing global concern. The world produces 385 million tonnes of plastic annually and 91 percent of that plastic never gets recycled. The rest ends up in an incinerator, a landfill, or as litter in the natural environment, where will remain for thousands of years.
Pyrolysis is an essential technology to resolve the plastic issue. This partnership with Brightmark will help establish us as leaders on this important challenge. In addition to our cooperation with Brightmark, SK Global Chemical’s Environmental, Social, and Corporate Governance (ESG) initiatives will continue to support the circular economy of plastic said Na Kyung-soo, CEO of SK Global Chemical.
For Brightmark the partnership with SK Global Chemical in South Korea represents an important part of its commitment to globally scale solutions to the most pressing environmental challenges. Brightmark is delivering on its mission through the deployment of disruptive, breakthrough waste solutions focused on plastics renewal, plastic waste-to-fuel, and renewable natural gas (RNG), organic waste-to-fuel.
Feasibility study
Both parties will carry out a feasibility study during 2021 and plan to cooperate by combining the experience of pyrolysis and post-treatment in South Korea. By the end of this year, the two parties will complete an evaluation of the most optimal methods to operate, scale and develop Brightmark’s technology within South Korea prior to the finalization of a joint venture agreement for the plant development and operation.
Brightmark is pleased to be able to partner with a leading global petrochemical company like SK Global Chemical that shares Brightmark’s focus on circular solutions to eliminate waste. Brightmark recognizes that the plastic waste issue is a global problem and we need global solutions to tackle it. South Korea is ready to tackle the plastic waste crisis by supporting circular, scalable solutions, and has established plastic waste collection systems and readily available plastic waste feedstock streams, which makes it an exceptional location for expansion, said Bob Powell, Founder and CEO of Brightmark.
In past, the continuous operation of pyrolysis plants was difficult due to a lack of technical and economic viability. Brightmark says that it has overcome these constraints.
Its plastics renewal plant in Ashley, Indiana (IN), with an annual capacity of 100 000 tonnes of plastic waste is said to be the world’s largest and will achieve full commercial-scale during 2021.
Pyrolysis oil treatment
SK Global Chemical is closely working together with SK Innovation, its holding company, in developing a post-treatment process to remove impurities and to convert pyrolysis oil into plastic.
When the commercial-scale pyrolysis plant is operated continuously and successfully in South Korea, the recycling rate of flexible packaging waste will be noticeably increased.
Moreover, it is expected that this business will make it easier to reach the goal of building the plastic circular economy after SK Global Chemical succeeds in using this oil in its own plastic feedstock plant.
It is very important to strengthen technological competitiveness in related industries. In this regard, SK Innovation is developing core technologies such as improving the yield of plastic conversion and removing impurities to secure the quality of pyrolysis oil from waste plastic, said Dr Seong Jun Lee, Head of SK Innovation’s Environmental Technology Institute.
