BASF Invests in Chemical Recycling of Plastic Waste
09 October 2019
BASF will invest €20 million in the fourth quarter of 2019 into Quantafuel, a specialist in the pyrolysis of mixed plastic waste and purification of pyrolysis oil, headquartered in Oslo, Norway.
Together, the partners aim to further develop Quantafuel’s technology for chemical recycling, which consists of an integrated process of pyrolysis and purification, in an effort to optimize the output for the use as feedstock in chemical production. In a second step, Quantafuel also plans to license the jointly developed technology to other parties.
“The investment underlines BASF’s commitment towards a sustainable use of resources and the development of a circular economy model for plastics,” says Hartwig Michels, President Petrochemicals, BASF. “Moreover, the partnership is a first step to build up a broad supply base for Ccycled products. This enables us to support our customers in achieving their sustainability targets.”
Press Release Courtesy of BASF.