US-based waste management company Brightmark has partnered with BP to develop advanced plastic waste renewal plants in Europe.
Under the agreement signed by the two companies, the partners will explore the possibility of developing plants in Germany, the Netherlands and Belgium.
They will work on projects to recycle waste plastics into petrochemical feedstocks for use in plastics and other industrial applications.
The partnership is intended to combine Brightmark’s proprietary advanced recycling technology with BP’s knowledge and trading experience in refining and petrochemical markets.
The companies will start by working on building an initial European plant.
When completed, each of the potential plastics renewal plants could save up to 400,000t of waste plastic from entering landfill a year.
Brightmark founder and CEO Bob Powell said: “Bringing our plastics renewal solution to Europe is a key next step in delivering on our mission to Reimagine Waste and create a circular economy globally.
“BP has been a terrific partner with Brightmark and we’re looking forward to expanding on our combined initiatives to scale our environmentally and economically sustainable circular solutions in Europe.”
BP is the offtaker for Brightmark’s plastic renewal plant in Ashley, Indiana, which has a capacity of renewing 100,000t of plastic a year.
The plant is now in its final commissioning stage.
Brightmark’s proprietary plastic renewal process recycles plastic waste that cannot currently be recycled in existing mechanical processes, including films, flexible packaging, styrofoam and plastic beverage cups.
BP trading and shipping executive vice-president Carol Howle said: “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.”