Honeywell has recently announced that Beijing Hinergy Qingyuan Technology Co., Ltd. ("Hinergy") will deploy UpCycle Process Technology to aid in the acceleration of plastic recycling in China.
Hinergy plans to establish a plastic facility in the Shandong province that will deploy Honeywell's UpCycle Process Technology to convert waste plastic into recycled Polymer feedstock. The facility is projected to transform 30,000 tons of mixed waste plastics into RPF per year
UpCycle has to capability to recycle nearly 90% of waste plastics. UpCycle Process Technology uses industry-leading molecular conversion, pyrolysis, and containments management technology to convert plastic back to RPF.
"Hinergy is fully committed to technological development and project construction in China's environmental protection industry. With the accelerated global carbon reduction process and national support for the circular economy, we are confident in the future market prospects for recycling plastic waste" said Chen Donglin, Chairman of Hinergy.
"Through cooperation with Honeywell, Hinergy will leverage the company's UpCycle Process Technology to establish our first waste plastic recycling facility, and further contribute to China's circular plastics economy", he further added.
"Honeywell's UpCycle Process Technology broadens the types of plastics that can be recycled, to help close the loop within the plastics supply chain with a lower carbon footprint" said William Yu, President of Honeywell China.
He further added, "We are pleased to collaborate with Hinergy to promote the commercial application of UpCycle, helping to address challenges in traditional plastic waste recycling and contributing to China's sustainable development goals."
In China, Honeywell has been implementing the ‘East for East' strategy. About 60% of Honeywell's new product introduction research and development investment is directed toward products that improve environmental and social outcomes for customers.