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.”