OMV Results 2020: Circular Economy

Plastics are a valuable resource that should be re-used and not thrown away. OMV and Borealis believe it is critical to take ownership of where plastics ultimately end up. This is why we are fully committed to advancing a circular economy for plastics as a means to mitigating climate change and environmental pollution.

Borealis has committed to increasing the volume of its recycled plastic solutions to 350,000 metric tons by 2025 and aims to be a leading “plastic-neutral” producer of advanced and sustainable polyolefin solutions. Advanced mechanical recycling technology is a key part of this, with its lower energy footprint, availability and potential to further increase quality and yields. In order to support this transition, Borealis has launched the Borcycle™ technology brand, transforming polyolefin-based waste streams into value-adding, high performance and versatile solutions for demanding applications.

Chemical recycling can offer a solution for plastic waste that is not suitable for mechanical recycling and would otherwise end up in incineration or landfill. The ReOil process chemically converts plastic waste into synthetic crude oil, which can in turn be processed into raw materials for the production of virgin-quality plastic materials by Borealis. By replacing fossil crude oil with synthetic crude oil, ReOil substantially reduces CO2 emissions. OMV is currently preparing for the construction of a ReOil demonstration plant with a capacity of up to 20,000 metric tons per year, which will be followed by an industrial-scale plant with a capacity of approximately 200,000 tons per year by 2025. By combining our complementary mechanical and chemical recycling efforts, OMV and Borealis will close the loop for plastics and build the foundation for a low-carbon circular economy for plastics.

0:00 Mechanical recycling
1:20 Chemical recycling (ReOil)

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