Licella establishes Cat-HTR Plastics and forms a global joint venture with Armstrong Chemicals.
Licella establishes Cat-HTR Plastics, a wholly owned subsidiary of Licella, to form a global joint venture with Armstrong Chemicals. The joint venture will build the world’s first commercial-scale hydrothermal upgrading plants for End of Life Plastic to chemicals and will come on line in 2018.
Licella has established Cat-HTR Plastics, a wholly owned subsidiary of Licella, and has licenced the Cat-HTR technology to process End of Life Plastic to this new entity. In turn, Cat-HTR Plastics have signed an agreement to form a global joint venture with Armstrong Chemicals Limited.
The Cat-HTR Plastics and Armstrong Chemicals joint venture will build the world’s first commercial scale hydrothermal upgrading plant, utilising Licella’s patented Cat-HTR upgrading platform.
Following a series of trials at Licella’s pilot plant on the NSW central coast in Australia, the new commercial-scale Cat-HTR plant will convert End of Life Plastic, otherwise sent to landfill, to valuable renewable chemicals, with the first plant due to come on line during 2019.
By utilising End of Life Plastic the first plant will be diverting plastic from landfill and recycling a previously unrecyclable stream. In many countries, including the UK, a significant charge is levied upon companies to dispose of End of Life plastics, which up until now were not economically viable to recycle.
The joint venture will earn a licence fee and royalties from the projects, with plans for a global roll out.
Licella will retain the rights to commercialise and licence the Cat-HTR platform for End of Life Plastic within Australia.
Together, Licella, through Cat-HTR Plastics and Armstrong Chemicals, are excited to be pioneering the field of hydrothermal upgrading within the End of Life Plastic industry. We believe that Licella’s Cat-HTR platform has the potential to revolutionise how we approach a zero waste economy around the World. We will be creating valuable new commercial products from otherwise waste materials, helping companies avoid significant waste disposal levies and helping building a bridge to a lower carbon future.
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