Under a Letter of Intent signed between Lummus Technology and Phigenesis, the Lummus new hope plastics pyrolysis technology will be used by Phigenesis in its new chemical recycling facility which is expected to have a capacity of 150,000 tons per annum. With the help of this technology, Phigenesis will recycle waste plastics to manufacture petrochemical feedstock materials. The project will significantly increase the current chemical recycling capacity in Europe.
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