VTT is spinning out Olefy technology in October. VTT also announces eight patent applications for the process.
VTT has announced its plan to spin out a new company – Olefy Technologies. Its patent-pending technology can extract over 70% virgin grade plastics and chemical raw materials components from plastic waste.
The Olefy process is based on gasification. The process can be done in a single step, majorly reducing the cost of plastic recycling. The technology enables direct parallel integration of the Olefy modules into existing steam cracker sites.
The working Olefy pilot is running at VTT Bioruukki Pilot Centre in Espoo, Finland. The company is currently discussing partnerships and negotiating with investors for scaling, business development, and licensing of the technology. The first industrial demonstration operation is expected to be operational by 2026.