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Circtec signs off-take agreement with bp for renewable marine fuel and naphtha

This week, Circtec announced an eight-year offtake agreement for Circtec's proprietary Hevea Upgraded Pyrolysis Advanced (HUPA) renewable drop-in marine fuel and circular naphtha petrochemical feedstock. In support of the offtake agreement, bp is providing Circtec a €12.5 million debt finance facility to contribute to the capex of Circtec’s new commercial-scale tire pyrolysis plant in the Delfzijl, Netherlands. At full capacity, the Dutch plant will produce 54,000 tonnes per year or more of renewable marine fuel and 15,000 tonnes per year of circular naphtha petrochemical feedstock – making it the largest fully-continuous pyrolysis recycling plant globally, and the only one to produce refined and upgraded renewable drop in marine fuel and circular naphtha petrochemical feedstock from waste tires.

Under the agreement, bp will purchase up to 60,000 tons per year of HUPA renewable drop-in marine fuel and up to 15,000 tons per year of circular naphtha petrochemical feedstock, on a take-or-pay basis, from Circtec's commercial-scale plant, for eight years after the plant is commissioned. The €285 million plant, currently awaiting construction, will have a capacity to process 200,000 tons per year of waste tires into renewable marine fuel, naphtha, and recovered carbon black. The rCB will be sold under the Continua brand name through Birla Carbon. Construction on the plant is scheduled to begin this year and the first phase of the plant will become operational in 2025.

Final_Circtec signs offtake agreement with bp_press release
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Source: Circtec

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