Toyo Engineering Corporation (TOYO, President and CEO Haruo Nagamatsu) and SCG Chemicals (SCG Chemicals, CEO and President Tanawong Areeratchakul) in Thailand entered into a memorandum of understanding (MOU) relating to the joint collaboration of improving the process, which is owned by Circular Plas (CirPlas) that SCG Chemicals hold a 60% stake, for turning mixed post-consumer plastics into recycled feedstock for petrochemical businesses.
CirPlas has already operated the demonstration plant for the advanced recycling process in Rayong province, Thailand. In September 2021, the process using the advanced recycling technology received the International Sustainability and Carbon Certification or ISCC PLUS. This certificate is issued to organizations with sustainable management and development across the supply chain with SCG Chemicals as the first in Thailand to be certified in the advanced recycling category. SCG Chemicals and CirPlas are planning to increase the capacity of the demonstration plant, and CirPlas and TOYO execute the joint collaboration of exploring scale-up for commercialization.
The plastic recycling technology owned by CirPlas is the advanced recycling technology using a catalyst, so the recycling process is in low temperatures. This reduces energy consumption and promotes environmental-friendliness. And, by recycling post-consumer plastics into feedstock for virgin plastic resin, it can contribute to solve the problem of plastic waste not only in Thailand but also in other countries.
TOYO’s mission is "Engineering for Sustainable Growth of the Global Community” and will contribute to solving the worldwide problem of plastic waste and a realization of a recycling society while cooperating the "Chemicals Business for Sustainability" that SCG Chemicals is aiming for.
