WPU to Broaden Research and Development Cooperation With Vitol

08/02/2023 — COPENHAGEN, Denmark — (BUSINESS WIRE)

WPU – Waste Plastic Upcycling A/S has welcomed an initiative of Vitol to engage in negotiations of a deeper vertical research and development of the WPU proprietary technology. The aim of this research and development will be to further broaden the product palette offered by WPU and enrich the subsequent treatment by Vitol creating more valuable products.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230207005907/en/

Niels Stielund (WPU) and Tom Baker (Vitol) (Photo: Business Wire)

The Research and Development cooperation may include construction of an upcycling facility based on WPU proprietary technology but financed by Vitol. WPU welcomes this initiative and looks forward to the negotiations and will update on significant developments.

Tom Baker, Global Head of Naphtha trading at Vitol comments: “Meeting the timeline for construction of the Fårevejle facility is a notable achievement. Vitol believes that the WPU proprietary process technology will make a significant impact in the future plastic waste upcycling industry.”

Niels Stielund, Chairman of Waste Plastic Upcycling A/S comments: “The strength and power of the Vitol – WPU cooperation has once again demonstrated its value. The WPU technology with its Low CAPEX and High Capacity is very suitable for fast scaling to match the global presence of Vitol.”

The first plastic waste has arrived in Fårevejle

The first trucks with plastic waste have arrived at the WPU Fårevejle facility – ready to be upcycled as it is. The entire pallets can be loaded directly into the WPU Batch system as it is, including steel bands and wrapping material.

WPU´s circular Batch process can upcycle dirty consumer- and industrial plastic without any special pre-treatment and with a huge saving of CO2 compared to incineration – for a greener World.

About WPU A/S

It’s our fundamental mission to give new life to plastic waste through pyrolysis and a unique batch technology. The batch technology simplifies the sorting and cleaning process. This makes the technology robust, flexible, and efficient. We predict it’s going to play a vital role in solving the world’s plastic challenge.

Read more: www.wpu-dk.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20230207005907/en/

CONTACT:

Niels Stielund
Chairman of the Board of Directors WPU A/S
+45 40 55 44 19