Mura Technology has completed an equity investment from LG Chem, a leading global chemical producer. The investment bolsters Mura’s plans to develop and deploy industrial-scale advanced recycling capacity across the world, with LG Chem joining the growing list of strategic partners adopting Mura’s technology.
In addition to becoming a shareholder in Mura, LG Chem has purchased a process licence from KBR, Mura’s exclusive global licensing partner. This licence will be a key driver in the continued international roll-out of Mura’s innovative recycling process, Hydro-PRT℠ (Hydrothermal Plastic Recycling Technology), and LG Chem plans to construct a hydrothermal upgrading facility to initially recycle up to 25,000 tonnes of plastic waste annually.
Once the facility, which will be the first in South Korea to use supercritical water, is operational, LG Chem plans to review the potential for constructing additional sites. This will continue to drive Mura’s global impact following the recent announcement of its first US-based Hydro-PRT℠ site near Seattle. Construction is already underway on Mura’s UK-based plant located in Teesside, which will be operational in 2022.