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UK-based Greenback Recycling Technologies Ltd. has agreed on an MoU with Indian chemical recycling technology firm Polycycl.
As further reported, the companies will form business partnerships to implement plastic-to-oil projects in India, which will be carried out with Polycycl’s patented pyrolysis technology. These projects will be able to generate 6,000 tpy of pyrolysis oil from waste plastics in the short term and 24,000 tpy in the medium term.
Polycycl has developed a system for segregating and processing the collected waste plastics into petrochemical feedstocks. Greenback will deploy its eco2Veritas circularity platform to form a certification system for these products.
