[E-Daily. Shin Ha-yeon] ECO CREATION, a leading eco-friendly pyrolysis technology company announced on the 9th that they passed the technical evaluation for listing KOSDAQ on the 8th.
ECO CREATION is engaged in the business of supplying the waste plastic pyrolysis facilities and pyrolysis oil refining technology. Pyrolysis is an indirect method of heating waste plastic in an oxygen-free state, so it has the advantage of being able to treat waste environmentally compared to incineration that burns generally causes various air pollution, and obtaining pyrolysis oil as a by-product.
ECO CREATION has technologies to produce high-quality refined pyrolysis oil by cracking, removing, and separating various components such as wax, chlorine, ink, and lead thread, respectively by their own self-developed catalyst.
One of the subsidiary company, Yeoncheon E&C have passed the installation inspection of waste plastic pyrolysis plant for the first in Korea since the Ministry of Environment established legal standards for pyrolysis production plant installation standards in 2023.
In addition, the company has succeeded in commercializing electricity generation using waste plastic pyrolysis oil for the first time in the world, and has been recognized for its related technology, such as supplying high-quality refined pyrolysis oil to major domestic refineries for eco-friendly refining materials under the revision of the Petroleum and Petroleum Replacement Business Act last year.
ECO CREATION signed contract to supply pyrolysis plants that can treat over 20,000 tons of waste plastic annually to a waste treatment company in Gyeongju at the end of 2023. The site is to be completed early this year.
After passing the technical evaluation, ECO CREATION plans to apply the preliminary listing review with the aim of listing KOSDAQ within this year under the Korea Exchange (KRX).
The CEO of ECO CREATION, Jeon beom-geun said, "I think we have been recognized as a company specializing in circulation technology of resource again. Since eco-friendly technology is considered as major growth engine in the future, we will do our best to become a leading company in waste plastic pyrolysis technology that can recycle resources and manage ESG."