Ecocreation Co., Ltd. currently operating a waste plastic pyrolysis facility in the Seo-gu, Incheon (Resource Circulation Specialized Complex).
Ecocreation Co., Ltd., an eco-friendly waste plastic pyrolysis technology company in Incheon, announced on the 20th that it has signed a practical collaboration contract with company N to enter the European market. According to Ecocreation, pyrolysis technology is an eco-friendly way to dispose of waste plastics by incinerating them with indirect heating in an oxygen-free state, unlike incineration that comes into contact with general air. The pyrolysis oil obtained from this process can be used as raw materials and fuel for various industries.
In 2019, Ecocreation was selected as a company to carry out a national research project by the Ministry of Environment, and succeeded in developing a catalyst technology that can remove impurities such as wax, chlorine, and gum in pyrolysis oil, and was certified as a new technology by the Ministry of Environment for the first time in Korea as a 'waste plastic pyrolysis technology'. Currently, it produces high-quality refined pyrolysis oil through a pyrolysis plant located in Seo Gu and supplies it to major domestic oil refining and petrochemical companies in Korea. Recently, Ecocreation completed the final consultation with the UK for local demonstration, and agreed to order facilities for the purpose of large-scale pyrolysis business by 2026 and signed working-level cooperation.
The Ecocreation explained, "The UK's legal mandate to use recycled products in plastic packaging and the European Union's tightening of regulations to mandate the use of 55% recycled materials in plastic packaging from 2025 are giving momentum to the export of refined pyrolysis oil technology." In addition, Ecocriation was selected as a target company by the Ministry of Environment's Waste Plastic Pyrolysis Environmental Cooperation Group to promote cooperation in the waste plastic pyrolysis business in Türkiye. Since China banned waste imports in 2018, Türkiye has seen a sharp increase in imports of waste plastics from the European Union (EU), resulting in various environmental problems. Accordingly, in the consultation of the Environmental Cooperation Group, Ecocriation proposed a waste plastic pyrolysis project in Ankara, Türkiye, and is exploring specific technology advancement conditions such as local legal regulations and infrastructure. Ecocreation expects to expand its business in a virtuous cycle of producing high-quality pyrolysis oil through the treatment of waste plastics generated in Europe in Türkiye and selling it back to Europe.
Jeon Beom-geun, CEO of Ecocreation, said, "If the pyrolysis plant enters the European market as well as Korea, it will be an opportunity to be recognized for its technology in the global market" and "We will grow into a leading ESG management company through a virtuous cycle of waste resources to reduce carbon emissions."