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BP and Clean Planet Energy to advance the circular plastics economy

10 May 2022

BP and Clean Planet Energy to advance the circular plastics economy

Clean Planet Energy is a UK-based company that designs and builds ‘ecoPlants’.

These facilities are expected to process plastics typically rejected by traditional recycling centres and so would otherwise be sent to incineration or landfill.

BP has signed a 10-year offtake agreement with Clean Planet Energy, to convert hard-to-recycle waste plastics into circular petrochemical feedstocks and also into ultra-low-sulphur diesel (ULSD).

Dr. Katerina Garyfalou, Director of Business Development at Clean Planet Energy, said:

“We set out to find an international energy company to work with that we felt understood our vision. BP not only put sustainability performance at the heart of their discussions with us from day one, but their global-leading refining and trading businesses means our naphtha product can have an impact in helping to advance a circular economy.”

BP will initially receive the output of Clean Planet Energy’s first facility in Teesside, with the opportunity to expand the relationship by offtaking products from future plants too.

The first facility, which is currently under construction in the north-east of England, is designed to have the capacity to process 20 000 tpy of waste plastics into naphtha which can be utilised as feedstock into circular plastics value chains and ULSD.

BP is already leading a series of major hydrogen and carbon capture and storage (CCS) projects being developed in and around Teesside that will support the decarbonisation of the region’s industries and which is aligned with their aim of unlocking new sources of value through circularity, keeping products and materials in use for longer.

Sven Boss-Walker, SVP Refining & Products Trading at BP, said:

“This long-term agreement with Clean Planet Energy for the offtake of naphtha will help BP unlock new sources of value through circularity, while helping divert plastic waste away from landfill, incineration and the environment. Clean Planet Energy’s first facility in Teesside should help accelerate this journey.”

Clean Planet Energy is currently developing 12 of its ‘ecoPlants’ globally which aim to divert 250 000 tpy of hard-to-recycle waste plastic from landfills and the environment and creating more than 700 green jobs in local communities.

Clean Planet Energy plans to announce further ‘ecoPlants’ in the UK, EU, South East Asia and the Americas later in 2022.

Reference: “BP and Clean Planet Energy to advance the circular plastics economy” 09/05/2022