One of Europe’s leading research institutions which is owned by the Finnish state VTT spins out Olefy, a new company working on a technology that makes it possible to use plastic over and over again without sacrificing quality. The company can add attraction to unwanted plastic waste. Thanks to this technology, which can preserve the quality of plastic to a certain extent, the usage area of recycled plastics seems to expand. This will also prevent the plastic from becoming unusable and completely trash after a few recycling processes. Accordingly, with this technology, which can cause a noticeable decrease in the production of new plastics, oil consumption will decrease correspondingly.
VTT spins out Olefy to revolutionize circular plastic recycling
After four decades of thermal conversion technology development, VTT Technical Research Centre of Finland is spinning out Olefy technology in October – a process that can affordably convert most of the world’s waste plastics back to usable virgin grade materials an infinite number of times. VTT also announces eight patent applications for the process.
VTT Technical Research Centre of Finland Ltd has announced its plan to spin out a new company – Olefy Technologies. Its patent-pending technology can extract over 70% virgin grade plastics and chemical raw materials components from plastic waste. The new process can be done in a single step, majorly reducing the cost of plastic recycling and making recycling a preferred option for massive amounts of landfill-bound plastic waste that current methods are unable to process.
Today, only 8–10% of global plastics gets recycled primarily through mechanical recycling. However, only a limited share of plastic waste can be mechanically recycled. Furthermore, the resulting recycled plastic cannot be used in food packaging and pharma applications.
Most plastic waste ends up in landfills. The opportunity to get virgin quality plastic from previously unusable plastic waste means that with Olefy it is economically viable to recycle most of the world’s plastics with minimal sorting by consumers and businesses.
“Plastic waste is one of the five major global problems that VTT has strategically set itself to solve,” says Antti Vasara, CEO of VTT. “Olefy is a quantum leap in recycling that will change the way the world views plastic by making it truly circular and guiding us towards carbon neutrality even faster.”
A major advantage of the virgin quality materials produced from the Olefy process enables plastic to be recycled an infinite number of times.
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