Wood Partners with OMV for Plastic Recycling Technology

Circular Economy Wood Partners with OMV for Plastic Recycling Technology

2023-10-06 Source: Press release Wood 1 min Reading Time

Related Vendors

John Wood Group PLC

Pörner Ingenieurgesellschaft mbH

Maag Pump Systems AG

Italvacuum, Srl

Under a collaboration agreement signed between both the parties, Wood will work towards commercializing OMV’s innovative plastic recycling technology Reoil. The move will help to advance chemical plastic recycling and develop a circular economy.

Under the agreement, Wood and OMV will bring Reoil jointly to the market, combining Wood’s proprietary heater technology with OMV’s chemical recycling process.(Source: Wood) — Under the agreement, Wood and OMV will bring Reoil jointly to the market, combining Wood’s proprietary heater technology with OMV’s chemical recycling process.
(Source: Wood)

Aberdeen/UK – Wood has signed a collaboration agreement with OMV for the commercial licensing of its innovative plastic recycling technology, Reoil. This agreement will support significant advancements in chemical-based plastic recycling, helping to build a circular economy solution for end-of-life plastics that would otherwise be sent to landfill or waste incineration.

OMV developed the proprietary Reoil technology to convert plastic waste into pyrolysis oil, a valuable resource primarily used to produce high-performing and sustainable plastics. Reoil offers an innovative solution to support the growth of plastic recycling – it is estimated that around 60 % of plastics production will come from recycled feedstock by 2050.

Stay up to Date

Do you want the latest news, specialist articles and information on new products? Then you can register for our free newsletter:

Choose your Newsletter

Under the agreement, Wood and OMV will bring Reoil jointly to the market, combining Wood’s proprietary heater technology with OMV’s chemical recycling process. The companies have established a combined technology and engineering delivery team to support clients with the implementation of Reoil at their sites. In addition, Wood will work with Reoil licensees to provide full asset lifecycle support globally.

A Reoil pilot plant has been operating in the OMV refinery in Schwechat, Austria since 2018 and has processed end-of-life plastics for more than 22,000 hours to date. A 16,000 tons per year Reoil plant is currently in construction at the same site and Wood is working with OMV on the development of an industrial-scale plant with a capacity of 200,000 tons per year.

This collaboration agreement follows a respective Memorandum of Understanding that was signed between Wood and OMV in November 2022.

(ID:49736308)

Subscribe to the newsletter now

Don't Miss out on Our Best Content

Business E-mail

Please enter a valid mailadress.

By clicking on „Subscribe to Newsletter“ I agree to the processing and use of my data according to the consent form (please expand for details) and accept the Terms of Use. For more information, please see our Privacy Policy. The consent declaration relates, among other things, to the sending of editorial newsletters by email and to data matching for marketing purposes with selected advertising partners (e.g., LinkedIn, Google, Meta)

Date: 08.12.2025

Naturally, we always handle your personal data responsibly. Any personal data we receive from you is processed in accordance with applicable data protection legislation. For detailed information please see our privacy policy.

Consent to the use of data for promotional purposes

I hereby consent to Vogel Communications Group GmbH & Co. KG, Max-Planck-Str. 7-9, 97082 Würzburg including any affiliated companies according to §§ 15 et seq. AktG (hereafter: Vogel Communications Group) using my e-mail address to send editorial newsletters. A list of all affiliated companies can be found here

Newsletter content may include all products and services of any companies mentioned above, including for example specialist journals and books, events and fairs as well as event-related products and services, print and digital media offers and services such as additional (editorial) newsletters, raffles, lead campaigns, market research both online and offline, specialist webportals and e-learning offers. In case my personal telephone number has also been collected, it may be used for offers of aforementioned products, for services of the companies mentioned above, and market research purposes.

Additionally, my consent also includes the processing of my email address and telephone number for data matching for marketing purposes with select advertising partners such as LinkedIn, Google, and Meta. For this, Vogel Communications Group may transmit said data in hashed form to the advertising partners who then use said data to determine whether I am also a member of the mentioned advertising partner portals. Vogel Communications Group uses this feature for the purposes of re-targeting (up-selling, cross-selling, and customer loyalty), generating so-called look-alike audiences for acquisition of new customers, and as basis for exclusion for on-going advertising campaigns. Further information can be found in section “data matching for marketing purposes”.

In case I access protected data on Internet portals of Vogel Communications Group including any affiliated companies according to §§ 15 et seq. AktG, I need to provide further data in order to register for the access to such content. In return for this free access to editorial content, my data may be used in accordance with this consent for the purposes stated here. This does not apply to data matching for marketing purposes.

Right of revocation

I understand that I can revoke my consent at will. My revocation does not change the lawfulness of data processing that was conducted based on my consent leading up to my revocation. One option to declare my revocation is to use the contact form found at https://contact.vogel.de. In case I no longer wish to receive certain newsletters, I have subscribed to, I can also click on the unsubscribe link included at the end of a newsletter. Further information regarding my right of revocation and the implementation of it as well as the consequences of my revocation can be found in the data protection declaration, section editorial newsletter.