Recently, Idemitsu Kosan Co., Ltd. (head office: Chiyoda District, Tokyo) decided to invest in a plant with an annual processing capacity of 20,000 tons near its Chiba factory (location: Ichihara City, Chiba Prefecture), with an annual processing capacity of 20,000 tons. The commercial production equipment for oil chemical recycling of used plastics as raw materials aims to start commercial operation in 2025.
Joint venture with Environmental Energy Co., Ltd.
At the same time, in April 2023, a new company called "Chemical Recycling Japan Co., Ltd." will be established as a joint venture with Environmental Energy Co., Ltd. (Headquarters: Fukuyama City, Hiroshima Prefecture), which has been committed to establishing oil-based equipment technology and producing waste Oil from plastic. Through this business, we aim to realize a carbon-neutral recycling society by 2050.
Recycling Chain
Japan produces about 8.2 million tons of waste plastics every year, only about 20% of which are recycled. More than 50% of waste plastics are incinerated due to the difficulty of recycling, and a large amount of carbon dioxide is emitted. As one of the solutions to this problem, unprecedented innovative chemical recycling technologies are required.
Chemical Recycling Japan Co., Ltd.
In this project, the newly established chemical recycling company will recycle waste plastics to produce oil as a raw material to replace crude oil, using the company's existing petroleum refining equipment and petrochemical equipment to refine, decompose, and aggregate production to produce " Renewable Chemicals". Ultimately, plastic manufacturing companies produce new plastic products using these renewable chemicals as raw materials.
After the business model is established in the Chiba factory area, the company will install oilification equipment at refineries and offices across Japan to promote large-scale business development targeting waste plastics across the country.
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