Aberdeen-based Wooden has obtained a multi-million greenback FEED contract from Belgian group Vioneo to ship the design for a plant to create fossil-free plastics from inexperienced methanol.
Based mostly in Antwerp, Belgium, the plant can have the capability to provide 300 kilotonnes per yr of high-quality, virgin polyethylene and polypropylene plastics produced from inexperienced methanol and freed from fossil feedstock.
Wooden mentioned the renewably powered and vitality environment friendly plant would be the first facility on the earth able to reaching this at industrial scale.
These plastics shall be totally traceable, segregated and carbon unfavorable, enabling prospects to cut back Scope 3 emissions. As well as, the manufacturing of those plastics doesn’t have an effect on the feedstock provide for meals manufacturing, making certain the undertaking is sustainable.
Wooden president of japanese hemisphere tasks Gerry Traynor mentioned: “Demand for fossil-free plastics in Europe is rising and Vioneo is creating an thrilling undertaking that can speed up the decarbonisation of Europe’s plastics sector.
“Wooden’s sturdy monitor report of delivering world-first tasks of this measurement and scale will assist Vioneo’s ambitions of changing into the main producer of fossil-free plastics in Europe.”
Wooden will apply its in depth expertise in delivering sustainable and modern engineering options to large-scale vitality transition tasks.
Vioneo is owned by AP Moller Holding, the funding arm of AP Moller Group and was launched as a part of its dedication to advancing inexperienced methanol manufacturing and selling sustainable practices within the plastics business.
Vioneo CEO Alex Hogan mentioned: “Vioneo is driving the transition of the plastics business by demonstrating the financial viability of large-scale, cleaner manufacturing utilizing inexperienced methanol as a substitute of fossil fuels.
“This initiative presents Europe the chance to steer the €5 trillion chemical substances and supplies sector’s defossilisation. Our collaboration with Wooden is an important step in realising this imaginative and prescient.”
Wooden group has been below a renewed takeover bid from Dubai-based Sidara, which is searching for to make a money supply for the complete issued and to be issued share capital of Wooden.
In 2024 negotiations, Sidara provided round 230p per share, valuing the corporate at round £1.6 billion.
Wooden’s share worth has since fallen appreciable from round 200p per share to its present stage of round 34.7p per share.
