Lummus' Green Circle announces agreement for advanced plastic recycling technology with Dongyang Environment Group
Lummus Technology, a global provider of process technologies and value-driven energy solutions, has announced an agreement with Dongyang Environment Group to deploy Lummus' advanced plastics recycling technology in South Korea. The plant will be located in Seosan, Chungcheongnam-do, Korea, and will be operated by Dongyang Environment's subsidiary, Seohae Green Chemical.
"We are pleased to announce this agreement with Dongyang Environment, one of South Korea's leading providers of energy and environmental services," said Greg Shumake, Vice President and Managing Director of Green Circle. "This is a significant step forward in our commitment to the circular economy and to deploying advanced plastics recycling technology in South Korea and other key markets around the world."
Lummus' Green Circle business unit will provide to Dongyang Environment its advanced plastic recycling technology, which effectively converts plastic waste into high-value chemicals and feedstocks, creating circularity. This technology is a proven, reliable and economic solution to address the global plastic waste problem, offering additional environmental benefits such as a lower carbon footprint and the elimination of char production.
"Dongyang's resource recycling and energy conversion expertise and Lummus' world-class technology will create strong synergies," said Byung Jin Song, the head of Dongyang Environment R&D center. "Additionally, Dongyang will strengthen its position in the chemical recycling industry, offering more sustainable products and increased value to our customers."
Green Circle concentrates and expands Lummus Technology's capabilities to capture new opportunities in the energy transition and circular economy. Green Circle is a leader in providing economically and technically sound solutions to process solid wastes containing plastics; process various renewable bio-based feedstocks to value-added chemicals, polymers and fuels; decarbonize refinery and petrochemicals assets; expand production of blue hydrogen and biofuels; and treat industrial wastewater.