SynOil
Financiado
Taking SynOil to the market Synthetic oil SynOil from plastic waste with the...
Taking SynOil to the market Synthetic oil SynOil from plastic waste with the molten zinc reactor
In Europe, the US and elsewhere, many municipals are sending more plastic waste to landfill or incineration for lack of other options. This reversal is due to the Dec. 2017 Chinese import ban on plastic waste. Moreover, the regula...
In Europe, the US and elsewhere, many municipals are sending more plastic waste to landfill or incineration for lack of other options. This reversal is due to the Dec. 2017 Chinese import ban on plastic waste. Moreover, the regulatory pressure on plastic recycling is increasing: in May 2019 the EU and most other states signed an agreement, which classifies plastic waste as hazardous, greatly reducing the capabilities of EU member states to export plastic waste to the third world and, hence, requiring treatment within the EU. In summary, the burden of dealing with plastic waste will shift back to Europe, the US, Canada and Japan presenting a large, global business opportunity for Composite Recycling Ltd (CRL).
Product & value proposition: CRL owns the patent to turn plastics waste into synthetic oil by treatment with molten zinc. This innovation named SynOil delivers highly profitable plastic waste incl. non-recyclable plastics to synthetic oil plants as SynOil is the fastest possible solution to treat plastic wastes due to heat transfer.
Target-users of SynOil are plastic waste recyclers, municipals and industrial plastic waste producers worldwide.
Market size: Worldwide about 100 SynOil plants are required. The financial returns for an operator are excellent with IRR’s over 25%depending mainly on throughput, but also local market conditions and other factors.
The next step in the SynOil project is the demonstrator scale unit – followed by commercialization. The funding requirement for the demonstration stage is between €1.5 and 8.0 million. The higher figure of €8.0 million is for the special case of a commercial plant for large plastic pieces.
Company: CRL was founded in 2012 to commercialize our waste tyre and printed circuit boards (PCBs) recycling processes. SynOil – waste plastic to oil or diesel – is yet another pillar in our growth strategy.
Business model & commercialization: CRL will use the licence and design business model to commercialize SynOil.
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Duración del proyecto: 6 meses
Fecha Inicio: 2019-10-28
Fecha Fin: 2020-04-30
Fecha Fin: 2020-04-30
Línea de financiación: concedida
El organismo H2020 notifico la concesión del proyecto el día 2020-04-30
Línea de financiación objetivo
El proyecto se financió a través de la siguiente ayuda:
EIC-SMEInst-2018-2020:
SME instrument
Cerrada
hace 6 años
Presupuesto
El presupuesto total del proyecto asciende a
71K€
Líder del proyecto
COMPOSITE RECYCLING LIMITED
No se ha especificado una descripción o un objeto social para esta compañía.
Perfil tecnológico
TRL
4-5
Perfil tecnológico
TRL
4-5
761.73K€ |
Participante