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10/11/2024 -
Irish recycling firm signs major deal

RE:BUSINESS AND FINANCE NEWS SERVICE

Irish recycling firm signs major deal

Cynar Plc of Portlaoise has signed an agreement with SITA UK, one of the UK's leading recycling and resource management companies, to build Britain's first fully operational plants to convert end of life plastic into diesel fuel.
The aim is to build 10 UK plastic to diesel conversion plants dealing with 60,000 tonnes of mixed plastic waste per year, and commission the first plant in London by the end of 2011.

Cynar is focused on new conversion technology. This agreement represents a major milestone for the firm in its expansion in international markets. The company has developed a technology which converts a variety of waste plastics into liquid fuels and which will now form a critical element in the roll out of the SITA UK plants across the UK.

Each plant is designed to convert approximately 6,000 tonnes of mixed waste plastic annually, specifically targeting mixed waste plastic diverted from landfill, and to produce in excess of 4 million litres of end of life plastic into specification diesel fuel.

SUEZ ENVIRONNEMENT's venture fund Blue Orange will contribute to the financing scheme together with SITA UK and help capitalise on the innovation dynamic of the project. SITA UK's agreement with Cynar will contribute to Britain's attempt to deal with mixed waste plastic with a solution that is both environmentally efficient and energy productive, according to Cynar. Traditionally, mixed waste plastic has been sent to landfill as no economically viable alternative way of treating it has been developed. Today's announcement means that this can now be given a second life as a sustainable alternative to diesel, said David Palmer-Jones, Chief Executive of SITA UK.

Michael Murray(pictured), CEO Cynar, said, We are excited by the prospect of seeing our technology becoming both a manufacturing and mainstream reality and a market first thanks to today's transformative agreement with SITA UK.

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