THE HAGUE (dpa-AFX) - Royal Dutch Shell Plc. (RDS-B, RDSB.L, RDSA.L, RDS-A) has taken a 21.25% equity stake in BlueAlp Holding BV, the plastic waste-to-chemicals technology company said in a statement.
As per agreement, Shell and BlueAlp will form a joint-venture company to build two new conversion units in The Netherlands, which are forecast to convert more than 30,000 metric tons of plastic waste per year. The units are planned to be operational in 2023 and will supply 100% of their pyrolysis oil as feedstock to Shell's Moerdijk and Rhineland crackers.
Shell is exploring licensing a further two units for deployment within Asia to supply the Shell Energy and Chemicals Park Singapore.
'.. This partnership is one of the important steps Shell is taking to reach our ambition of recycling one million tonnes of plastics waste a year in our global chemicals plants by 2025,' said Robin Mooldijk, Executive Vice President of Shell Chemicals and Products.
Copyright RTT News/dpa-AFX