Green tie-ups: Origin Materials/Hyosung to produce batteries, tyres, apparel from carbon-negative materials; Agilyx, Ineos and Technip to build PS recycling plant in US

Carbon negative firm Origin Materials and South Korea’s Hyosung Advanced Materials have signed a multi-year capacity reservation agreement whereby Origin Materials will supply PET and a hybrid polymer PET/F (a blend of PET and FDCA) for use in tyre applications, HTC for use in battery materials, as well as furanic derivatives for use in spandex applications in the apparel industry.

The partnership will leverage Origin’s patented technology platform, which can turn the carbon found in sustainable wood residues into useful materials while capturing carbon in the process.

The materials will support Hyosung Advanced Materials’ broader sustainability effort to address climate change with a focus on carbon neutrality and eco-friendly business sectors.

“Partnering with Hyosung Advanced Materials is a significant milestone in our mission to transition the world to sustainable materials,” said Origin Materials Co-CEO Rich Riley. “The opportunity for working together is remarkably broad, and we are excited to develop high-value products for use in a wide range of end markets and applications including batteries, automotive, and apparel. Together, we can expand the adoption of Origin’s technology and help drive the ‘once in a planet’ shift to sustainable materials taking place around the world.”

“We are excited to be a partner with Origin Materials to take this pathway together to Net Zero through this innovative technology development and commercialization effort,” said Young Joon Lee, Vice President at Hyosung. “Sustainability is at the heart of Hyosung’s growth strategy and we firmly believe that our strong partnership will take both of us to the forefront of industry leadership in the renewable materials space.”

In other news, styrenics maker Ineos Styrolution America and recycling firm Agilyx announce that they are advancing the development of a previously announced 100 tonnes/day TruStyrenyx chemical recycling facility in Channahon, Illinois.

TruStyrenyx is a partnership between Agilyx and Technip Energies and provides an all-in-one solution for the chemical recycling of PS materials back into high purity styrene monomer. The styrene monomer can be used to make new, food-grade plastic products or packaging.

Under the agreement, Agilyx and Technip Energies will collaborate with Ineos Styrolution and together develop the design and engineering that will serve as the basis for constructing the chemical recycling facility. The group anticipates completion of engineering in 2023, which will form the basis for a financial investment decision.

Greg Fordyce, President of Ineos Styrolution, says, “We are very pleased to announce the advancement of the recycling plant in Channahon, Illinois. This facility will increase polystyrene recycling rates in the greater Chicago area and across the United States and demonstrates our company’s ongoing commitment to sustainability. The TruStyrenyx facility will allow us to provide our customers with recycled content that is incredibly high purity for producing environmentally conscious products using innovative and sustainable solutions.”

Tim Stedman, CEO of Agilyx states, “I’m delighted that we are partnering with INEOS Styrolution to continue development of the first large scale TruStyrenyx plant, utilising some of the private placement funds Agilyx raised in September. We view TruStyrenyx as a game changer in the recycling of polystyrene, enabling an incredibly high purity, circular solution. This new facility will help to meet the growing demand from brand owners and consumers who want to see more recycled plastics in products.

(PRA)

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