Socium Development has signed a Memorandum of Understanding with an Irish Waste Management Company in the beginning of 2020. The objective of the parties is to form a partnership and to launch waste plastic to fuel operations in Ireland.
The partnership aims to launch the Pilot Phase of its operations within 2020 and to focus on converting waste plastics, such as used plastic bags, wrapping materials and packaging products into low sulphur oil. This oil is similar in character to crude oil and can be refined into Diesel, Gasoline and Kerosene.
The operation will be utilizing the existing manufacturing facility, provided for the partnership by the Irish partner. This existing facility is to be further developed by installing up to 10 pyrolysis production units, each with approximate production output of 60 000 liters per month.
The partnership is targeting to reach the full production capacity of approx. 600 000 liters per month within 2022,