MOSCOW (MRC) -- Maire Tecnimont S.p.A. announces that its subsidiary NextChem S.p.A. has signed an agreement with Biorenova S.p.A. to acquire, scale up and industrialize the proprietary CatC technology, a continuous chemical recycling process to recover monomers with ultra-high levels of purity from sorted plastic waste, particularly Polymethylmethacrylate (PMMA),, said Hydrocarbonprocessing.
NextChem intends to scale up CatC’s industrialization in the plexiglass market, while progressively expanding its application to other value-added plastics, as this technology could also be suitable for the depolymerization of polystyrene, a largely used plastic with numerous industrial applications from food packaging to electronics and automotive, among others. Moreover, a further optimization of the technology could allow to address the even larger polyolefins market.
The CatC technology has been developed in the Abruzzo region (central Italy), where the first market development plant has already been built. Monomer samples have been fully validated by perspective off-takers. Once scaled up, CatC would provide a cost-effective, competitive alternative to other existing depolymerization technologies for plexiglass, as the obtained monomers can be used directly without any further treatment. Biorenova S.p.A. is an innovative company engaged in the development of circular economy proprietary technologies, particularly in recovering materials through CatC technology, and hydrogen bioproduction.
NextChem will hold a 51% stake of a new company (NewCo) which will own the CatC technology. Biorenova will maintain the remaining 49%. Closing, is expected to take place by 30 April 2023, subject to customary conditions. This acquisition is strategically significant since it allows the Group to expand its technological portfolio and enter new markets.
Expected revenues coming from such activity are expected to progressively grow to an overall value of EUR30 million by 2028. After this ramp-up period, yearly revenues are expected to be in the EUR15-20 million range. NextChem through the NewCo will act as technology licensor, high-value process engineering and critical equipment provider.
We remind, Maire Tecnimont S.p.A. announces that NextChem, through its subsidiary MyRechemical, has kicked off the engineering phase of Hydrogen Valley in Rome, which is based on NextChem’s waste-to-chemical technology and has received the EU Commission grant within IPCEI HY2USE initiative, as already communicated, said the company.
NextChem has started, through MyRechemical, the engineering of waste conversion to Circular Gas™ that will be the feedstock for the ethanol and hydrogen production. In this framework, NextChem has awarded LanzaTech an engineering contract to deliver a process design package for a syngas fermentation unit to produce circular ethanol for sustainable mobility and chemicals based on its biocatalyst technology.