Niutech Signs Agreement with Global Energy Major for Waste Plastic Pyrolysis Line to Produce SAF
Niutech Technology Group Co., Ltd, a company listed on the STAR Market, has announced the signing of a sales agreement with a global energy company for an Industrial Continuous Waste Plastic Pyrolysis Production Line. This production line operates using Niutech's proprietary pyrolysis technology and has a processing capacity of 10,000 to 50,000 tons per year. The agreement signifies Niutech's first integration into the customer's equipment supply chain and the beginning of a long-term partnership.
The customer has been increasing its investment in renewable energy and prioritizing Sustainable Aviation Fuel (SAF) as part of its sustainability goals. As per the agreement, Niutech's technology will enhance a large refinery owned by the customer, facilitating the conversion of pyrolysis oil into hydrotreated SAF.
SAF is seen as a critical factor for achieving decarbonization in aviation. The EU's ReFuelEU Aviation regulation mandates SAF blending in jet fuel starting at 2% in 2025, increasing to 6% by 2030 and 70% by 2050. Other regions, including the UK and Singapore, have established their own blending requirements. Currently, used cooking oil is the primary feedstock for SAF, but limited supply has created a demand for alternatives. Niutech's process allows for the conversion of waste plastics into pyrolysis oil, presenting a viable option for SAF production.
Niutech's Industrial Continuous Waste Plastic Pyrolysis Line can handle various qualities of feedstock without the need for extensive pre-processing. It is capable of directly pyrolyzing low-value waste plastics such as PP, PE, PS, ABS, and nylon in a highly efficient manner. Niutech has commercial operations across several countries, supporting large-scale pyrolysis projects in Europe and Asia, including the European Waste Plastic Pyrolysis Chemical Recycling Demonstration Project.
A company executive highlighted the challenges of maintaining continuous operation in large-scale pyrolysis projects, stating, "Niutech has focused on pyrolysis technology for nearly 40 years and brings mature equipment and extensive project experience. This partnership is another validation of the strength of our industrial continuous technology."
Niutech is recognized for its global leadership in pyrolysis technology, providing comprehensive solutions that encompass research and development, high-end equipment manufacturing, and project operations. The company's equipment has processed over 30 waste types and has been deployed in multiple countries, including Germany, the UK, and Brazil.