Circular Plas Company Limited (Circular Plas), led by Dr. Suracha Udomsak, Chairman of the Circular Plas Board and SCGC’s Chief Innovation Officer, and Toyo Engineering Corporation (TOYO), led by Mr. Yoshinari Miyazaki, Senior Executive Officer have entered into a joint development agreement (JDA) for the collaboration for the implementation of the capacity expansion and business opportunity for commercialization of the innovative design of equipment and engineering process relating to turning mixed post-consumer plastics into recycled feedstock for petrochemical businesses, owned by Circular Plas, an affiliate company of SCGC The memorandum of understanding (MOU) signed in January 2022 laid the groundwork for this ambitious project, focusing on improving processes to convert post-consumer plastics into a resource for petrochemical production. The subsequent expansion of demonstration plant capacities and the move towards commercialization are clear indicators of the project's success and potential. The demonstration plant in Rayong province, Thailand, is a pioneering facility that has successfully converted post-consumer plastics into pyrolysis products, a raw material for petrochemical plants, thereby closing the loop in the plastic lifecycle. This achievement is not only a technical feat but also a milestone in sustainability, as evidenced by the ISCC certification. Circular Plas's plastic-recycling technology is particularly noteworthy for its energy efficiency and environmental benefits. The innovative use of a proprietary multifunctional materials in the liquefaction process significantly reduces the temperature required for conversion, resulting in higher yields of light cracked oils and a reduced environmental footprint. Moreover, TOYO's expertise in reactor design has been instrumental in adapting the technology to handle the variable nature of post-consumer plastics. Their efforts to enhance continuous-operation capabilities and increase capacity utilization underscore the technical prowess and forward-thinking approach of both TOYO and Circular Plas. Currently, a new reactor jointly developed and designed between TOYO and Circular Plas is being prepared for installation in the demonstration plant. Circular Plas and TOYO expect to demonstrate this reactor system in early 2025, bringing a prospect of scaling up the demonstration plant to achieving commercialization target. This partnership is poised to make a substantial impact on the petrochemical industry by offering a sustainable alternative to traditional feedstock sources. It also encourages the industry to adopt the circular economy approach, where waste is not an endpoint but a new beginning.
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