KUALA LUMPUR: PETRONAS Chemicals Group (PCG) Bhd has signed a memorandum of understanding (MoU) with ExxonMobil to assess the potential for large-scale implementation of advanced plastic recycling technology to help create a circular economy for plastics in Malaysia.
The companies will also evaluate opportunities to support improvements to plastic waste collection and sorting in the country.
PCG managing director/CEO Ir. Mohd Yusri said it had been continuously exploring and implementing innovative technologies to develop sustainable solutions demanded by its customers.
“This collaboration is yet another significant step towards the transition into a circular economy on the back of increased demand for circular products and signifies our commitment to use recycled raw materials in the chemical industry,” he added.
ExxonMobil vice president of new market development Dave Andrew said: “Advanced recycling plays an important role in meeting the growing demand for circular products, while helping to address the challenge of plastic waste.”
“Leveraging new technologies and the expertise of both of our organizations, we hope to accelerate a more circular economy for plastics in the region,” Andrew said.
PCG is currently conducting several feasibility studies on plastics recycling. In 2019, PCG signed an agreement with Plastic Energy to convert end-of-life plastics using a pyrolysis process, and the facility is on track to be operational by 2025.
In addition, PCG is collaborating with waste management companies to unlock the value within the solid waste ecosystem in Malaysia.
PCG said these collaborations would help to divert plastic waste from landfills and create an ecosystem that is conducive to the transition to a circular economy.
Meanwhile, ExxonMobil plans to build approximately 500,000 metric tons of advanced recycling capacity at its integrated manufacturing facilities around the world by year-end 2026.
At its proprietary Exxtend technology at its advanced recycling facility in Baytown, Texas, ExxonMobil has processed more than 5,000 metric tons of plastic waste since the facility started up in 2021, and is on track to complete large-scale expansion of the facility later this year.
The company is assessing additional sites for advanced recycling in the U.S., Canada, Europe and Singapore, and collaborating with Plastic Energy to build an advanced recycling plant in France.