The advanced pyrolisis technology is already in use across India and Morocco, and is now set for multiple sites in Europe, the Middle and Far East.
Clean-Seas, a subsidiary of US-based Clean Vision, is behind the rollout of plants, which will soon include a joint venture with the states of Arizona and West Virginia worth £47.5million.
£270million is now needed from British and international investors to fund the next stage of development, with a move up to the NASDAQ market from Over The Counter trading expected soon. Revenue will be raised through a Green Bond in conjunction with Super Global Securitisation, based in Luxembourg.
The conversion technology involves heating organic and inorganic waste without oxygen, at or above 350C. At such temperatures, the waste plastic material is deconstructed but combustion cannot take place. A char and gases form, which are then condensed into liquid pyrolisis oil boud for the petroleum market. This is used within a number of fuel types which are considered significant to emissons reductions.
‘Our aim is to work with governments, international organisations and industry leaders to lead the world in sustainable plastic waste management, diverting waste plastic from incineration, landfill or oceans and converting it into Plastic Pyrolysis Oil, low sulphur diesel and Hydrogen (AquaH®), clean energy production,’ said Dan Bates, CEO of Clean-Seas and Clean Vision. ‘Our vision is rooted in responsibility, innovation, and collaboration. With investors’ help, we can have a substantial impact on the global plastic pollution crisis – Ensuring a more sustainable future for generations where waste becomes opportunity and energy powers sustainability.’
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