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LG Chem Ltd. is spending 310 billion won to build facilities for plastic recycling and the production of a thermal insulator component in the city of Dangjin.
South Korea’s leading chemical producer said it is on track to break ground on the plant that will recycle plastic waste using supercritical pyrolysis, which is a technology that decomposes used plastic with steam at high temperature and pressure beyond a critical point.
It eventually converts the used plastic into fossil-replacement oils and chemicals that can be reprocessed into new plastics.
The planned pyrolysis plant will have an annual production capacity of 20,000 tons of oil from plastic waste.
LG Chem will also build a separate facility in the same complex to produce aerogel, a light solid material used as a thermal insulator for the transport and storage of liquid hydrogen, special clothing like spacesuits, and electric vehicle batteries.
Both facilities will go into operation in 2024.
