‘No and Partners’ Collaborates to Establish ‘Win-Win Fund’ Supporting SMEs and Mid-Sized Companies
Contributing to Circular Economy Completion by Recycling Waste Plastic Using Petroleum Refining Technology
S-OIL signed a business agreement with ‘No & Partners’ for a resource circulation ESG fund established to contribute to achieving a circular economy and carbon reduction.
Both companies agreed to cooperate in creating a domestic circular economy ecosystem by building a mutual cooperation foundation to provide technical analysis and support, facility improvement and optimization, and financial solutions for small and medium-sized enterprises (SMEs) based on technical know-how and experience across the entire waste plastic recycling value chain.
Investment in the ‘Resource Circulation ESG Fund’ plans to raise funds targeting institutional investors such as pension funds and mutual aid associations. Through this, they aim to meet the Ministry of Environment’s 2030 target of producing 900,000 tons of waste plastic pyrolysis oil, and to approach the commercialization of the circular economy by inputting pyrolysis oil produced by domestic SMEs into refining and petrochemical facilities to produce gasoline or basic petrochemical raw materials.
Ryu Yeol, President of S-OIL, stated, “With ESG increasingly emphasized recently, the government is preparing policies for waste plastic recycling, especially pyrolysis technology, in line with the 2050 net-zero plan, so long-term growth of this industry is expected. We intend to contribute to completing the circular economy through waste plastic recycling by utilizing S-OIL’s outstanding petroleum refining technology.”
Waste plastic pyrolysis is a technology that heats waste plastic inside an oxygen-free reactor to obtain liquid-state refined pyrolysis oil, which can be used not only as fuel such as heating oil but also as a substitute for crude oil or as plastic raw material.
Currently, although several domestic SMEs and mid-sized companies participate, the quality of the produced pyrolysis oil is low due to technological and capital limitations, so it is mainly used as fuel.
On the other hand, it falls short of the chemical raw material quality required for input into refining or petrochemical processes aimed at producing recycled resin or chemical recycling, making it difficult to achieve a true circular economy.
No & Partners, a private equity fund (PEF) management company, has accumulated high expertise by proactively investing in the secondary battery market with promising results and being selected as the entrusted manager of a hydrogen sector blind fund funded by major domestic groups, thereby conducting extensive investments in eco-friendly and ESG fields.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
