has finalized an agreement with Gunvor Petroleum Rotterdam, a wholly owned subsidiary of Gunvor Group Ltd. (Gunvor) to purify pyrolysis oil feedstocks derived from plastic waste to expand global capabilities for circular plastics. Gunvor will supply cracker-ready feedstock to Dow in Europe beginning in 2021, which will be used to produce circular plastics for customers. The purification process is necessary to ensure the pyrolysis oil feedstocks are of sufficient quality to produce new polymers.
Additional Purification Capacity
Gunvor is an experienced processor of crude oils with a strong European presence and brings expertise that can further improve the quality of pyrolysis oil feedstock. The agreement with Gunvor supports Dow’s
agreements with Mura, Fuenix and New Hope and complements Dow’s intention to fast-track a market development scale purification unit in Terneuzen, the Netherlands, which will provide additional purification capacity. These collective efforts demonstrate continued progress toward meeting the Company’s announced sustainability targets to stop plastic waste, close the loop and protect the climate.
“The agreement builds on Dow’s longstanding relationship with Gunvor and leverages the economies of scale needed to bring a circular economy for plastics another step closer
,” said Diego Donoso, president of Dow’s packaging and specialty plastics business. “In addition to our efforts to design for recyclability, we are adopting advanced recycling technologies that allow us to reclaim and reuse more waste plastics that would otherwise go to waste
“By building on our longstanding relationship with Dow, Gunvor is implementing our near-term strategy to leverage the Group’s existing traditional asset base to advance Energy Transition objectives in a commercially viable manner
,” said Gunvor Group CEO, Torbjörn Törnqvist. "Reducing waste and promoting sustainability is a priority