Abundia Global Impact Group (Abundia), a technology company focused on circular solutions and sustainability, has entered into a licensing agreement with Akron, Ohio-based Alterra Energy. The terms of the agreement were not announced.
Alterra's thermochemical liquefaction process will be combined with Abundia's technology to recycle postuse plastics into usable chemical products. Abundia says it plans to start development of its first site in the U.K., which will be able to process up to 40,000 tons of plastics annually into various recycled chemicals during the second half of 2022. The company says it plans to increase the site’s processing capacity to 120,000 tons annually by 2027.
At its Akron plant, Alterra converts plastic destined for landfills into petrochemical materials that can be further refined into the raw materials for new plastic production and other petrochemical products. The facility is International Sustainability and Carbon Certification PLUS (ISCC PLUS) certified as a pyrolysis plant and collection point for mixed plastic waste. The company licenses its technology to entities looking to recycle more challenging plastics or seeking more sustainable products. Alterra says it is partnering with companies in the solid waste industry, government entities and petrochemical companies.
"Having spent many years researching, co-developing and reviewing scores of technologies that attempt to solve the global plastics recycling crisis, I'm convinced that the combination of Alterra's liquefaction platform and Abundia's downstream upgrading technologies will provide a robust and circular solution to the waste plastics problem cluttering our world today," says Martin Atkins, chief scientific officer of Abundia Global Impact Group. "Our combined, efficient, high-volume continuous process creates an economical and sustainable solution for plastic and municipal wastes that are sought by global stakeholders including governments, industry, environmental groups and consumers."
"Abundia shares our commitment to solving plastic pollution and to supporting the circular economy. Our innovative advanced recycling approach, combined with Abundia's upgrading technology process, is another step in this direction," Frederic Schmuck, CEO of Alterra, adds.