NextChem signs MOU with Indian Oil to develop waste-based projects

November 4, 2020 |

In Italy, NextChem and Indian Oil Corporation have signed a Memorandum of Understanding for the development of industrial projects using NextChem technologies to foster the industrialization of circular economy in India. The projects will be focused on plastics recycling, producing biofuels from renewable feedstock and circular fuels and chemicals from non-recyclable waste.

This memorandum is one of the strategic collaboration initiatives between India and Italy aimed at further consolidating their commercial and industrial relations, which will be presented during the bilateral digital summit to be held this week between the two Prime Ministers.

IndianOil is working to develop a sustainable business model of closed loop ecosystem of waste-plastics under its “Plastic Neutrality Initiative” and is looking for partners who can contribute to addressing the end-life management of plastic waste in the country. IndianOil furthermore intends to introduce recyclates as a new line of product portfolio in addition to the existing virgin polymers business. NextChem is developing several technological solutions related to generating value from waste, providing its contribution by scouting, pivoting, industrializing and finally commercializing a portfolio of sustainable technologies.

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Category: Fuels

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