Research and Development of Eco-Friendly Urban Oil Fields... On-Site Reveal of Eco-Creation's Pyrolysis Technology
Chemical Recycling Technologies like Pyrolysis and Hydrolysis Accelerate Development of Recycled Resin and Eco-Friendly Materials
[Asia Economy Reporter Yoonju Hwang] SK Geocentric is completing its goal of growing into the world's largest urban oil field company based on waste plastic recycling by collaborating with a domestic pyrolysis specialist company.
SK Geocentric opened a factory applying pyrolysis oil technology from its Green Transformation strategy's core base, SK Innovation Environmental Science and Technology Institute, and one of its eco-friendly business partners, Ecocreation, to attending reporters. In September, SK Geocentric made a fresh start with a new name meaning "Eco-friendly Innovation Centered on the Earth" and revealed its financial story of evolving into "the world's largest eco-friendly urban oil field company that recycles waste plastic to extract oil again."
In particular, the collaboration among domestic pyrolysis specialist Ecocreation, SK Geocentric with its traditional chemical business capabilities and related know-how, and SK Innovation Environmental Science and Technology Institute is expected to greatly contribute to establishing a circular economy for waste plastic through the advancement of pyrolysis technology and achieving the goal of becoming an urban oil field company.
◆Various R&D Activities of the Environmental Science and Technology Institute for SK Geocentric’s Green Transformation
Among these, SK Innovation Environmental Science and Technology Institute is the core base for eco-friendly R&D for SK Geocentric’s Green Transformation, focusing on recycling technology, 3R (Reduce, Replace, Recycle) solutions, and eco-friendly material development. It provides eco-friendly energy and material-based solutions to support not only SK Geocentric but also the transition of SK Innovation group’s financial story from carbon business to green-centered business.
A representative effort by the Environmental Science and Technology Institute to establish a plastic circular economy is the development and application of chemical recycling technology. Regarding pyrolysis oil technology, one of the chemical recycling technologies, SK Geocentric introduced pyrolysis oil produced by domestic small and medium-sized pyrolysis companies from a win-win and collaborative perspective, and at the end of last month, it was used for the first time in Korea as a raw material for refining and petrochemical processes. In addition, research to improve the quality of pyrolysis oil is ongoing.
Also, considering the seriousness of the waste plastic issue, SK Geocentric judged that securing core technology for pyrolysis independently is necessary and is executing a two-track strategy by promoting the construction of a large-scale pyrolysis plant combining SK’s own impurity removal process through global technology partnering.
Until now, pyrolysis oil was difficult to use as a raw material due to concerns about air pollutant emissions and equipment corrosion caused by impurities such as chlorine during process input. The Environmental Science and Technology Institute, together with SK Geocentric, developed and applied post-treatment technology to remove impurities in pyrolysis oil, transforming it into an eco-friendly fuel oil.
Based on business cooperation with the U.S. pyrolysis specialist Brightmark, SK Geocentric plans to build a large-scale pyrolysis oil plant in Ulsan combining global and proprietary technologies, aiming for commercial operation in 2024. Through recycling 200,000 tons of waste plastic annually, about 1.08 million barrels per year of pyrolysis oil will be produced, creating a true urban oil field.
Besides this, the Environmental Science and Technology Institute is also promoting the introduction and development of depolymerization technology, one of the advanced chemical recycling technologies, and focusing on developing high-value mechanical recycling technologies and products to minimize carbon dioxide emissions.
◆Ecocreation Leading Plastic Circular Economy and ESG Management Based on Cooperation with SK Geocentric
SK Geocentric signed a business agreement (MOU) for waste plastic pyrolysis business with domestic pyrolysis company Ecocreation in March and acquired a 25% stake in Ecocreation in August. The New Eco One, unveiled to reporters this time, is a pyrolysis oil production plant applying Ecocreation’s pyrolysis technology and is currently in trial operation aiming for commercial production in November this year.
Regarding pyrolysis oil technology, one of the next-generation recycling technologies, SK Geocentric introduced pyrolysis oil produced by domestic small and medium-sized pyrolysis companies from a win-win and collaborative perspective, improved its quality, and has been using it as a raw material for refining and petrochemical processes in Korea for the first time since the end of last month. The pyrolysis oil produced by New Eco One is also expected to be supplied to SK’s refining and petrochemical plants.
Ecocreation is a domestic pyrolysis technology holder and equipment engineering company certified by the Ministry of Environment. It succeeded in developing a pyrolysis plant based on key core processes such as catalyst control technology using its proprietary catalyst tower and received NET (New Excellent Technology) certification.
The NET new technology certification by the Environmental Industry Technology Institute under the Ministry of Environment is a government certification system to support the commercialization and market entry of new technologies, mainly in health, medical, and IT fields, and cases of manufacturing equipment certification like Ecocreation’s are very rare.
Ecocreation’s waste plastic pyrolysis technology produces high-quality pyrolysis oil by pyrolyzing low-grade waste plastic, and compared to existing technologies, it removes more than 80% of hydrogen chloride generated during the pyrolysis process, reducing air pollution. It also has the advantage of very high production yield compared to other pyrolysis companies, making it immediately applicable on-site.
Kim Ji-yeon, Director of Ecocreation, said, "Not only the commercialization of waste plastic recycling technology but also producing high-purity pyrolysis oil and supplying it to SK Geocentric’s process is expected to create synergy between the two companies in eco-friendliness and ESG management." She added, "In the future, we will cooperate with SK Geocentric to register pyrolysis oil as an innovative product in the environmental field, contributing to carbon neutrality and leading the establishment of a waste plastic circular economy."
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