United Kingdom – bp has signed an eight-year offtake agreement with Circtec, a technology company that develops and operates innovative pyrolysis chemical process technology and whose plants convert hard-to-recycle waste tyres into renewable drop-in marine fuel, and circular naphtha petrochemical feedstock.
Under the agreement bp is committed to purchasing up to 60,000 tonnes per year of Circtech’s HUPATM renewable drop-in marine fuel and up to 15,000 tonnes per year of circular naphtha petrochemical feedstock from Circtec’s new commercial-scale plant in Delfzijl (The Netherlands).
The €285 million new plant will be constructed to have the capacity to process 200,000 tonnes per year of waste tyres into HUPATM renewable drop in marine fuel, circular naphtha petrochemical feedstock and circular chemical recovered carbon black (rCB). Construction of the new plant is planned to start this year with the first phase of the plant intended to become operational in 2025.
bp has also committed to providing €12.5 million of investment through debt capital, to support the €100 million development of the first phase of the Delfzijl plant.
The Delfzijl plant is Circtec’s first commercial-scale plant investment following a 15-year technology and product development process. Circtec is planning the development of several plant projects globally over the next few years, starting with North America and Southeast Asia, as direct owneroperator plants and as joint-venture licensing partnerships.
A previous long-term offtake partnership for the entire output from the new Delfzijl plant of Circtec’s circular chemical product, recovered carbon black (rCB), was announced in 2021 with Birla Carbon, one of the world’s largest producers of the chemical carbon black.
