Lamor's project on the chemical recycling of plastics is progressing to the next stage

Lamor Corporation Plc         Press release      5 January 2023 at 10:15 a.m. EET

Lamor's project on the chemical recycling of plastics is progressing to the next stage

Lamor´s project to build a facility for chemical recycling of plastics together with Resiclo Oy is progressing to its next phase. Lamor's first phase investment in the Kilpilahti project company has been made, and the next steps are more detailed planning of the process and starting the actual implementation. The project is unique, as no facility on this scale for chemical recycling of plastics has been carried out in Finland before. The recycling plant will produce from waste plastics chemically recycled raw material, which can be used in the petrochemical industry to produce recycled plastics and delivered to suitable refineries for further processing. Lamor communicated the construction of the chemical recycling facility together with Resiclo on 22 June 2022.

In the first phase, the aim is to build a 10,000-ton annual capacity in the Kilpilahti area in Porvoo, Finland. In the medium term, estimated by the end of 2026, Lamor aims to build a distributed chemical plastics recycling capacity of approximately 40,000 tons in Finland.

The cornerstone of Lamor’s strategy implementation is to act globally but locally. Lamor offers solutions in the customer's own operating environment meeting global quality standards by utilizing its global distribution network and project delivery references. Building upon these competitive advantages, Lamor is now expanding its offering in plastics recycling.

“This investment is the first significant step for Lamor to develop recycling of plastics. Our goal is to create a blueprint facility and references in Finland, after which we aim to utilize our international network to build similar recycling facilities in our strong market areas. One of our strategic targets is to be part of solving the global plastics problem with a 100-kiloton project portfolio of recycled plastics using our competitive advantages.”, says Mika Pirneskoski, CEO of Lamor.

There are significant initiatives globally to reduce the use of virgin crude oil in the petrochemical industry to combat climate change, and the chemical recycling market is expected to be in the magnitude of hundreds of billions of euros by 2050. Lamor’s long-term expertise in environmental solutions and Resiclo’s strong know-how in plastics chemical recycling will enable a systemic reduction of carbon dioxide emissions, efficient recycling, and the reduction of the environmental impact of plastics. Advanced chemical recycling enables increasing the amount of plastics getting recycled and sustainable raw materials in the plastics industry.

Further enquiries

Mika Pirneskoski, CEO, Lamor Corporation Plc, tel. +358 40 757 2151

Lamor in brief:

Lamor is one of the leading global providers of environmental solutions. Lamor provides its customers with equipment used for oil recovery, waste management and water treatment as well as versatile environmental solutions and services, such as clean-up and preparedness services related to oil spill response and oil spills, services for the treatment of waste and tailored and adapted water treatment solutions. Lamor operates together with its local partners, offering a wide selection of solutions, which can be tailored according to the needs of each customer, and aiming to clean the world, for which the company has worked since its incorporation. The company’s share is listed on the Nasdaq First North Premier Growth Market Finland marketplace maintained by Nasdaq Helsinki under the trading code LAMOR. Further information: www.lamor.com

Resiclo in brief:

Resiclo is a Finnish circular economy start-up developing new advanced chemical recycling sites. Resiclo aims to develop plastics circular economy and build several chemical recycling sites in Europe. “We make plastics circular.” Further information: www.resiclo.com