Company: Itero Technologies
CEO: Simon Hansford
Website: https://www.itero-tech.com/
About Itero Technologies
Itero is a chemical recycling company working to engineer solutions for a circular economy.
Since 2020, we’ve been operating our pyrolysis technology that converts hard-to-recycle waste plastic back into a chemical feedstock for brand new circular plastics products. By complementing traditional recycling methods, our technology diverts plastics from landfill and incineration, increasing recycling rates and reducing dependency on crude oil.
Existing recycling technologies have been crucial in reframing plastic waste as a valuable commodity. However, economic, logistical, and technological factors mean the scope of these solutions is limited, and as much as 85% of plastic waste still ends up in landfill and incineration.
Chemical recycling converts plastic waste streams that cannot be recycled through current technologies into valuable petrochemical resources which are then processed to create new virgin-quality plastics and other industrial commodities.
In contrast with existing recycling solutions, outputs from our process go on to create recycled plastic products with the same quality as those from virgin fossil-fuels. These recycled products can also be recycled again and again; offering one of many crucial solutions necessary for a fully circular plastics economy.
Pyrolysis of mixed waste plastic can deliver a 44% reduction in global warming potential than conventional fossil-based systems, where plastic waste is incinerated (Reference: Life Cycle Assessment of Chemical Recycling for Food Grade Film, The Consumer Goods Forum)
Through ongoing testing and optimisation of our products and processes at our West London Pilot Plant, we’ve gained a comprehensive understanding of processing real-world waste. Our tried and tested process will be expanded at our industrial-scale demonstration facility at the Brightlands Chemelot Campus, Netherlands.
The demonstration plant will process 27kt per annum of waste plastics while offsetting over 20kt per annum of fossil resources, the equivalent of offsetting nearly 500 barrels a day. Itero’s upcoming plant has also just been awarded 5m EUR by the European Union’s Just Transition Fund.
The primary goal of the JTF is to enable European regions that are dependent on fossil-based income and employment to transition to a low-carbon energy future, considering the social and economic impacts as well as environmental.
Itero’s plant at Brightlands will create approximately 40 full-time jobs that support the transition from the petrochemical industry into a world-leading circular plastics hub, retaining expertise in the Limburg region. The integration of circular economy businesses into the Limburg area will attract further investment into the region.
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