The agreement includes the construction of the first industrial plastic chemical recycling plant and a partnership for the development and commercialization of the technology
Milan, March 2, 2023 – From Garbo S.r.l. a further step in technological innovation. The company, a pioneer in chemical materials recovery since 1997, has signed an agreement with Saipem S.p.A. for the industrialization, development and global commercialization of “Chempet technology” for chemical recycling of plastics and the construction in Cerano (Novara) of the first industrial plant in the world for chemical recycling of PET based on this technology.
PET is a thermoplastic polymer widely used in the food industry. It allows better preservation of food, thus reducing food waste. It is also used in the textile industry in many applications. However, only 10 percent of the PET put on the market is recycled, while the remaining 90 percent is landfilled or incinerated.
Garbo has developed an innovative “chemical recycling” process based on depolymerization that can process much of the currently unrecoverable PET-based waste to produce new high-quality, high-value PET for the chemical and food industries.
Saipem will also undertake the design and construction of the plant as EPC Contractor.
Chempet technology represents a solution to the expected growth in demand for recycling of plastics and PET in particular – even in light of increasingly stringent regulation. Compared to competing technologies, Chempet technology features greater simplicity in process and by-product management, no use of flammable or hazardous substances, and a wider range of treatable PET waste.
Garbo was assisted by Anthilia Holding as Arranger of the transaction and by Studio Pugno VAnoni Pividori as Lawyers.
Guido Fragiacomo, CEO of Garbo, comments: “This agreement allows Chempet to consolidate its industrial leadership in chemical recycling through the ready-to-start industrialization of a 45 kTon/year plant and the development of technology licensing on a global scale. Chempet’s technology stems from Garbo’s more than 20 years of expertise and R&D investment in by-product and industrial chemical waste recovery processes.”
Saipem Chief Commercial Officer Fabrizio Botta comments: “This agreement is in line with Saipem’s strategy in low-carbon industrial segments and allows the company to enrich its portfolio of technologies and solutions available for the circular economy and sustainable chemistry.”