In order to advance plastics recycling in Egypt, Honeywell (Nasdaq: HON) and Environ Adapt for Recycling Industries have signed a Memorandum of Understanding (MoU). The two organisations will investigate building Egypt’s first chemical recycling factory, which would be outfitted with cutting-edge Honeywell technology and able to recover waste plastic into useful recycled polymer feedstock (RFP).
According to the plan outlined in the Memorandum of Understanding, Honeywell UOP will collaborate with Environ to implement its most recent UpCycle Process Technology, which, when combined with other mechanical, chemical, and recycling processes as well as advancements in collection and sorting, has the potential to help recycle up to 90% of waste plastics. This represents a significant increase in the amount of waste plastic that can be used as feedstock for polymers.
The MoU gives Environ the authority to carry out a project feasibility study to investigate trends, feedstock availability, and prospective markets, as well as technical studies for the operation of the plant and facility, overall project timetable, financial modelling, and analysis.
Environ will receive technical and commercial information, analysis, and broader project support from Honeywell UOP concurrently.
According to Omar M. El Hassanein, CEO of Intro Sustainable Resources’ Waste Treatment and Resource Recovery division, “We are fully involved along the entire waste value chain and expanding into chemical recycling is a logical development of our scope of activity.” “We are constantly searching for cutting-edge technology that will enable us to reduce the carbon footprint of our clients’ operations and advance the nation’s NDCs. We are eager to collaborate with Honeywell to deploy their UpCycle Process technology in Egypt since we regard it as a crucial tool for achieving this goal.
With a long history in technology for the digitalization of industries as part of the Fourth Industrial Revolution, Honeywell is a global leader in sustainability-related innovation. While working toward its own objective of becoming carbon neutral across all of its operations and sites by 2035, Honeywell is supporting comparable sustainability plans announced by countries and their sectors throughout the Middle East and North Africa.
The agreement, which was made at the COP27 summit in Sharm El-Sheikh, Egypt, supports the goals of Egypt’s Vision 2030, a comprehensive long-term political, economic, and social vision created in accordance with the UN Sustainable Development Goals (SDGs).
Egypt has set a goal under Vision 2030 to reduce greenhouse gases (GHGs) from the energy sector, including oil and gas, by 10% from 2016 levels by 2030. Additionally, Egypt’s National Climate Change Strategy intends to invest US$10 billion to develop 10 GW of renewables and upgrade its thermal power plants in order to increase the share of renewables in its energy mix to 42% by 2035.
Working with some of the country’s most important government and private sector organisations in the areas of oil and gas, refining and petrochemicals, smart cities, building automation, defense, aviation, infrastructure development, logistics, security, and fire safety, Honeywell has been expanding its presence, activities, and investments in Egypt. It does this from its North African hub in Cairo. The business has operated in Egypt for more than 60 years and is dedicated to offering the country’s long-term focus on localization high-caliber talent and technological opportunities.