Energy giant bp and global waste solutions company Brightmark have partnered to explore the development of next-generation plastic waste renewal plants in Europe.
They have signed a Memorandum of Understanding to jointly evaluate opportunities to deliver sustainable solutions that convert end-of-life plastics – that would otherwise be destined for incineration, landfill or export – into valuable petrochemical feedstocks for plastics and other industrial applications.
Brightmark’s proprietary plastics renewal process recycles plastic waste that has reached the end of its useful life, including items not currently recyclable using conventional mechanical processes, such as plastic film, flexible packaging, styrofoam, plastic beverage cups, car seats and children’s toys.
The companies, which will explore the development of such facilities in Germany, the Netherlands and Belgium, estimate each plant could divert up to 400,000 tonnes a year of waste plastic from disposal to create sustainable products and potentially support more than 100 full time jobs in the circular economy.
Carol Howle, Executive Vice President, Trading and Shipping at bp said: “Promoting circularity and unlocking new sources of value are part of our sustainability frame.
“We are excited to extend our work with the team at Brightmark as we seek to develop new sustainable products and supply chains. Their innovative technology complements our refining and trading businesses while providing opportunities for a more sustainable future, enabling materials to be kept in use for longer.”
Through its plastics renewal projects, Brightmark aims to divert 8.4 million tonnes of plastic from landfill and the natural environment and use it to produce 1.7 million tonnes of feedstocks necessary to remake plastics.