MAIRE TECNIMONT THROUGH NEXTCHEM WIDENS ITS CIRCULAR ECONOMY TECHNOLOGY PORTFOLIO, SIGNING AN AGREEMENT WITH BIORENOVA SPA

CatC is an innovative continuous and cost-effective chemical recycling process for the recovery of high-purity monomers from plastic waste, in particular from polymethylmethacrylate (PMMA, also known as plexiglass). NextChem…

• CatC is an innovative continuous and cost-effective chemical recycling process for the recovery of high-purity monomers from plastic waste, especially from polymethylmethacrylate (PMMA, also known as plexiglass).
• NextChem will further extend the application of CatC to other value-added plastics markets such as polystyrene and polyolefins, acting as a licensor and supplier of process engineering and critical equipment.

Milan, February 6th, 2023 – NextChem SpA, a subsidiary of Maire Tecnimont SpA, has signed a contract with Biorenova SpA to acquire, develop, and industrialise the proprietary CatC technology, a continuous chemical recycling process for the recovery of monomers (basic components for the plastic value chain) with a high degree of purity from differentiated plastic waste, particularly from polymethylmethacrylate (PMMA, also known as plexiglass). NextChem plans to commercialise CatC in the plexiglass market before gradually expanding its use to other value-added plastics. CatC is a technology that can depolymerize polystyrene, a common plastic with a variety of industrial applications, including food packaging, electronics, and automotive. Further optimisation of the technology would also allow access to the wider polyolefin market.

CatC technology has been developed in Abruzzo, where the first commercial development plant has already been built. Monomer samples have been fully validated by potential customers. When CatC is commercialised, it will offer an economical and competitive substitute for conventional plexiglass depolymerization technologies because monomers can be used without further processing.

Biorenova SpA is an innovative SME engaged in the creation of unique circular economy solutions, particularly in the areas of organic hydrogen production and material recovery using CatC technology. NextChem will hold 51% of the capital of the new company (NewCo), owner of the CatC technology. The closing, subject to the conditions typical of this type of transaction, is scheduled for 30th April 2023. Strategically, this acquisition is important since it enables the Group to diversify its technology portfolio and enter new markets. Revenues from this operation are expected to gradually increase, reaching a total amount of €30 million by 2028. After this period, turnover is expected to be around €15-20 million per year. Through Newco, NextChem will serve as a technology licensor and supplier of high-value-added process engineering and critical equipment.

“With this agreement, we are further extending the Group’s technology portfolio in depolymerization technologies, building on our experience in chemical recycling. We will gradually incorporate this cutting-edge technology into other value-added markets. This is a further step forward for the NextChem Circular District model, which integrates technologies for decarbonisation and recycling, leveraging our leadership in the plastic value chain” said Alessandro Bernini, CEO of the Maire Tecnimont Group.

Maire Tecnimont SpA,

A firm listed on the Milan Stock Exchange, Maire Tecnimont SpA, is in charge of a major multinational industrial group that transforms natural resources (plant engineering in downstream oil & gas, with technological and executive talents). With its subsidiary, NextChem operates in the field of green chemistry and technologies to support the energy transition. The Maire Tecnimont Group employs over 9,300 people throughout its 50 operating companies, which are spread across about 45 different nations. Go to www.mairetecnimont.com for additional details.