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On March 30th, 2023, LG Chem began construction of its first waste plastic advanced recycling plant in South Korea using Mura’s proprietary technology, HydroPRS™. The ground-breaking ceremony, held at the Seokmun National Industrial Park in Dangjin, south of Seoul, was attended by government officials and executives from Mura and LG Chem, including Mura’s CEO Dr Steve Mahon and LG Chem’s CEO Shin Hak-cheol and Head of Petrochemicals Noh Kug-lae.
Construction of this first site in South Korea to use HydroPRS™ is expected to be completed by the end of 2024, with the site fully operational in 2025, producing up to 20,000 tonnes of recycled hydrocarbons annually.
The plant will be the first facility in South Korea to use HydroPRS™, a unique advanced recycling process which uses supercritical steam to convert waste plastics back into petrochemical feedstocks for use in the manufacture of new plastic products.
LG Chem became an investor in Mura and a HydroPRS™ licensee in 2022, demonstrating their commitment to Mura and to the advanced recycling value chain. The construction of the plant is the next step in this partnership and advances Mura Technology’s mission to create a global circular economy for plastics by decoupling the plastics sector from linear, finite, fossil-based feedstocks.
Mura CEO Dr Steve Mahon said:
“We are delighted to see construction commence at LG Chem’s site, Mura’s first partner to use HydroPRS™ to develop advanced recycling capacity in South Korea. The adoption of Mura’s proprietary technology, HydroPRS™, underscores the commitment to the technology and to Mura from LG Chem, one of the world’s largest petrochemical producers, highlighting Mura as leaders in the field of advanced recycling.”
LG Chem CEO Shin Hak-cheol said that :
“LG Chem vows to play a major role in achieving sustainable growth and net-zero goals as a leading company in the petrochemical industry.”