Mura Technology, an advanced plastic recycling solutions provider, has announced an offtake agreement with Neste, marking a step towards a circular plastic economy.
The agreement will see Neste transforming products from Mura’s first commercial-scale site in Teesside, North East England, into new plastic feedstock, reducing reliance on fossil resources.
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The Teesside facility is expected to start operations by mid-2024.
This collaboration follows Mura’s previous offtake agreement with Dow, a global plastics manufacturer.
Mura CEO Steve Mahon said: “We are delighted to be working with Neste to advance the transition to a circular plastic economy. Our technology, soon to be deployed in our first-of-its-kind UK facility, has unlocked new value in plastic waste streams previously considered to be unrecyclable.
“We look forward to working with the polymers industry around the world as we expand across the US, Europe, and Asia.”
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By GlobalDataMura’s HydroPRS process, which utilises supercritical water to convert plastic waste into hydrocarbons, stands out from other advanced recycling methods such as pyrolysis.
This process can handle contaminated and mixed plastics, including those used in food packaging, and offers high yields of hydrocarbon products for creating virgin-quality recycled plastics.
The HydroPRS technology supports the production of recycled plastics and enhances material circularity within the industry..
A 2023 technical report by the European Commission’s Joint Research Centre has recognised Mura’s HydroPRS as one of its leading technologies with a carbon footprint approximately 50% lower than that of competing pyrolysis technologies.
Neste Chemical Recycling vice-president Heikki Färkkilä said: “Mura is helping provide scale to process large volumes of waste plastics into circular feedstocks to meet this demand.”
In November 2023, Neste announced collaborating with Mitsui Chemicals and its subsidiary Prime Polymer to offer more sustainable food packaging solutions for Japanese brand CO-OP’s products.
