Vitol has entered into a conditional agreement to acquire a controlling interest in Waste Plastic Upcycling A/S (“WPU”). On completion, which is subject to certain conditions precedent, Vitol will own 90.36% of the share capital of WPU.
WPU upcycles end-of-life plastic waste to oil, using batch pyrolysis technology, for use as full range Naphtha or to be distilled to kerosene/jet fuel. Based in Denmark, WPU has an operational commercial scale facility in Farevejle with the capacity to recycle 30,000 tonnes of waste plastic a year. An additional two sites are planned, which would bring WPU’s total recycling capacity to 180,000 tonnes p.a. by 2026.
Read more at https://www.vitol.com/vitol-agrees-to-acquire-66-84-of-plastics-recycling-company-wpu/
