OMV and Borealis explore synergies in order to establish a circular economy
In line with the vision that post-consumer plastic waste is too valuable for single use, OMV and Borealis are exploring the potential for synergies in the OMV ReOil innovation project: Borealis is a major polyolefin producer and has acquired two recycling companies as part of its focus on developing a roadmap for the circular economy. OMV has been exploring the potential of post-consumer plastics since 2011 and is now working on scaling up the ReOil process.
The OMV ReOil pilot plant has been fully integrated into the refinery and has a processing capacity of up to 100 kilograms per hour, equivalent to 100 liters of synthetic crude. This crude is processed either into feedstock for the plastics industry or fuel and creates a resource-efficient circular economy. One more scale-up step of the plant is planned before reaching final industrial-scale capacity.
OMV and Borealis believe that post-consumer plastics are a valuable resource that should not be thrown away. With this initiative, OMV and Borealis are leading the way in the petrochemicals and plastics industry and contributing to the UN's Sustainable Development Goals.
Thomas Van De Velde, Borealis Senior Vice President Hydrocarbons & Energy: ”Next to our existing solutions for mechanical recycling for plastics, this co-operation with OMV on chemical recycling of plastic waste to be used as a feedstock for polyolefins solutions is an important and concrete step for our circular economy strategy. It is a perfect fit for Borealis’ Open Innovation strategy, working with leading partners in our industries, and underlines our strategy to lead the way in advancing the circular economy of plastics. Our aim is to provide our customers with value-adding solutions that address global challenges.”
The partnership between OMV and Borealis for the petrochemical integration of OMV refineries goes back as far as 1998 and their shared industrial site in Schwechat, Austria, is one of the largest integrated plastics production sites in Europe. The OMV Schwechat Refinery operates integrated petrochemical production facilities and supplies Borealis with petrochemical feedstock. Now OMV and Borealis are taking the next step to advance the chemical recycling of post-consumer plastics.