SABIC SIGNS LICENSE ACCESS AGREEMENT WITH BAPTEEC LTD FOR SHCP® PYROLYSIS TECHNOLOGY

On March 15, 2023, Beijing Aerospace Petrochemical Technology And Equipment Engineering Corporation Limited (BAPTEEC LTD), a wholly owned subsidiary of Beijing Aerospace Propulsion Institute (“BAPI”, affiliate to  China Aerospace Liquid Propulsion Technology Academy of China Aerospace Science and Technology Corporation), and SABIC, a global leader in the chemicals industry, held a signing ceremony in Beijing to complete a license agreement for SABIC to access BAPI’s  SHCP® pyrolysis technology.

At the signing ceremony, BAPI Deputy Director Zhang Yanjun, SHCP® Project Leader, explained the technical advantages and commercial application potential of SHCP® pyrolysis technology in the field of chemical recycling of waste plastics.

Representing SABIC at the event, Amelie Hu, (General Manager, Strategic Development, Greater China), and Olivier Guise, (Director of Science & Technology Innovation, Asia Pacific), recognized the technical advantages of SHCP® pyrolysis technology, such as the potential to scale up with high heat transfer efficiency and low waste.

SABIC and BAPTEEC LTD have had a good foundation of cooperation since 2016. This new collaboration further demonstrates the companies shared vision to accelerate plastic circularity in the chemical recycling of used plastic.

Frederik Hoornaert, General Manager, Chemicals Technology & Innovation at SABIC  stated, “We are excited to further explore BAPTEEC LTD’s advanced recycling technology as a potential option to meet our TRUCIRCLE™ targets in Asia Pacific. SHCP® technology would enhance our toolbox for technology solutions. Effective, feed flexible, economical, scalable and differentiated pyrolysis is one of the key pillars of our circular economy technology strategy.”

Li Xiaofeng, Director of BAPI, stated, “ Under the global trend of carbon reduction, SHCP® pyrolysis technology can realize the resource utilization of low residue value waste plastics, and will promote the low-carbon recycling of waste plastics worldwide. We hope to take this opportunity to enhance bilateral cooperation for mutual benefit. ”

Wang Wanjun, Director  of  China Aerospace Liquid Propulsion Technology Academy, stated, “The signing of this agreement will accelerate the industrialization of SHCP® technology,  help the global layout of SABIC’S circular economy industry, and  play an important role in  promoting the development of the global waste plastic chemical recycling industry.”

 “SABIC Ventures facilitates partnerships with select innovations in the startup ecosystem in support of our corporate technology strategy. This collaboration with BAPTEEC LTD is our first transaction in Asia Pacific to further our sustainability aspirations in the region, and we are looking forward to identifying more opportunities”, said Aruna Subramanian, Managing Director, SABIC Ventures.

The successful signing of this contract will further accelerate the engineering application of SHCP® pyrolysis technology and support the circular economy industry. Through the cooperation between the two parties, the technology has the potential to play an important role in promoting the development of the global waste plastic chemical recycling industry and contributing to global circular economy efforts.