Maassluis, The Netherlands, November 30, 2022 – Synova, SABIC Global Technologies B.V., an affiliate of Saudi Basic Industries Corporation (SABIC), and Technip Energies (T.EN) have signed a Joint Development and Cooperation Agreement on November 23, 2022 to collaborate on the development and realization of a commercial plant, which will produce olefins and aromatics from plastic waste. The plant will use a combined technology developed by Synova and T.EN and will be integrated with one of SABIC’s steam crackers. As such, the plant will contribute to SABIC’s vision of closing the loop on used plastic.
The combined technology includes Synova’s proprietary solids cracking technology (MILENA) in combination with its gas conditioning and tars removal technology (OLGA) for the conversion of plastic waste into product gas, which contains high value chemicals. The Synova technology is combined with T.EN’s proprietary gas treatment technology (Pure.rGas™) to remove contaminants from the product gas and purify it to bring the final products up to a specification compatible with processing in a steam cracker downstream of the cracker furnace. The combined technology efficiently converts plastic waste into high value chemicals, enabling an efficient plastic circularity route and significant reduction of greenhouse gas emission.
In support of Synova and the collaboration, SABIC’s affiliate SABIC Ventures US Holdings LLC has become an investor in Synova.
Synova will use their investment to enhance the development of its technology and to strengthen its engineering capabilities.
Jörg Krüger, CEO and Managing Director at Synova, said: “I am thrilled that SABIC has joined Synova as an investor and development partner. This proves the confidence SABIC has in our team and our technology. The SABIC investment follows the completion of an in depth technical due diligence process.
The Joint Development and Cooperation Agreement clearly defines the next steps that SABIC, T.EN, and Synova will execute together to successfully build a commercial scale chemical recycling plant to improve plastic circularity.”
Frederik Hoornaert, General Manager Chemicals Technology & Innovation at SABIC, said: “We are excited about this collaboration with Synova and Technip Energies because it fits perfectly into our ambition on circularity, part of our flagship TRUCIRCLE™ program. We were the first in our industry to commit to the upscaling of the advanced recycling of used plastics. This new cooperation is another example of our commitment and we believe this technology can play a major role in converting lower quality mixed plastic waste into virgin olefins.”
Bhaskar Patel, SVP Business Line Sustainable Fuels, Chemicals and Circularity, at Technip Energies, stated: “We are excited to work together with SABIC and Synova on this opportunity to bring circularity for plastic waste to reality. Building on the cooperation Technip Energies already has with Synova, we are looking forward to joining forces with SABIC and supporting their ambition in the field of circularity by providing our technological expertise for the purification of pyrolysis gas together with our engineering skillsets for a successful commercial plant.”
Synova, SABIC and Technip Energies join forces to accelerate plastic circularity. (Photo: Synova, PR002)
Synova is a technology provider offering solutions to close the gap in carbon circularity. Its waste-to-chemicals technology is a superior form of chemical recycling, designed to displace the need for fossil fuels and reduce climate impacts. Synova is focused on enhancing the circular economy of plastics and helping consumer product and petrochemical companies to achieve targets to reduce waste and to produce and use more recycled plastics.
The technology was invented by the Netherlands Organization for Applied Scientific Research (TNO), an independent Dutch research organization that, amongst others, develops technology relevant to the Circular Economy and Energy Transition.
For further information: www.synovatech.com.
SABIC is a global diversified chemicals company, headquartered in Riyadh, Saudi Arabia. It manufactures on a global scale in the Americas, Europe, Middle East and Asia Pacific, making distinctly different kinds of products: chemicals, commodity and high performance plastics, agri-nutrients and metals.
SABIC supports its customers by identifying and developing opportunities in key end-use applications such as construction, medical devices, packaging, agri-nutrients, electrical and electronics, transportation and clean energy.
SABIC recorded a net profit of SR 23 billion (US$ 6.15 billion) in 2021. Sales revenues for 2021 totaled SR 174 billion (US$ 46.6 billion). Total assets stood at SR 318 billion (US$ 84.9 billion) at the end of 2021. Production in 2021 stood at 58 million metric tons.
The company has more than 31,000 employees worldwide and operates in around 50 countries.
Fostering innovation and a spirit of ingenuity, SABIC has 10,090 patents and pending applications, and has significant research resources with innovation hubs in five key geographies – USA, Europe, Middle East, South Asia and North Asia.
For further information: www.sabic.com.
ABOUT TECHNIP ENERGIES:
Technip Energies is a leading Engineering & Technology company for the energy transition, with leadership positions in Liquefied Natural Gas (LNG), hydrogen and ethylene as well as growing market positions in blue and green hydrogen, sustainable chemistry and CO2 management. The company benefits from its robust project delivery model supported by extensive technology, products and services offering.
Operating in 34 countries, our 15,000 people are fully committed to bringing our client’s innovative projects to life, breaking boundaries to accelerate the energy transition for a better tomorrow.
Technip Energies is listed on Euronext Paris with American depositary receipts (“ADRs”).
For further information: www.technipenergies.com.
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