bp offtakes Clean Planet Energy to advance the circular plastics economy

bp said on Monday it has signed a 10-year offtake agreement with UK based Clean Planet Energy to convert hard-to-recycle waste plastics into circular petrochemical feedstocks and also into ultra-low sulphur diesel (ULSD).

According to the companies, bp will initially receive the output of Clean Planet Energy’s first facility, which they said is currently under construction in Teesside in the north-east of England.

They said that the Teesside facility is designed to have the capacity to process 20,000 tonnes a year of waste plastics into naphtha and ULSD.

The naphtha is used as feedstock into circular plastics value chains, which the company said is “aligned with bp’s aim of unlocking new sources of value through circularity, keeping products and materials in use for longer.”

Clean Planet Energy designs and builds ecoPlants that process plastics typically rejected by traditional recycling centres. The company is developing 12 of these ecoPlants globally.

According to the agreement, Clean Planet Energy will provide bp to expand the relationship by offtaking products from its future plants beyond Teesside.