Gunvor, one of the world’s leading independent commodities trading companies, and New Energy (member of the NE-TECH Group), a Budapest-based technology company specialising in the advanced chemical recycling of end-of-life tyres, have announced the signing of a strategic collaboration agreement
New Energy will provide Gunvor with pyrolysis oil from its waste tyre recycling plant in Dunaharaszti, Hungary, as well as future NE-TECH facilities in Karcag, Western Europe, and regions beyond the EU.
Pyrolysis oil is intended to serve as a feedstock for refineries, substituting traditional fossil-based raw materials. Utilising chemically recycled oil contributes to the reduction of carbon emissions and supports core principles of circular economy models by facilitating material reuse and minimising waste.
Ricardo Cordeiro de Sousa, Circular Naphtha and Pyrolysis Oil trader at Gunvor, commented; “On top of conventional products, Gunvor is committed to increasing its support for the ‘circular economy’ and the Energy Transition. NE-TECH has a unique technology that is working on full industrial scale operating 24/7, and together we can offer both economic advantages and environmental benefits. We look forward to working with New Energy and sourcing products from its current and new facilities in Europe.”
Viktor Varadi, CEO of NE-TECH Group, concluded; “This partnership underlines our successful development and optimization of our processes to maximize economic efficiency of our plant and technology. We are proud that we achieved this level, where we qualify our products to the high standards of Gunvor, and partner with one of the world’s leading independent commodities trading companies This collaboration will result in the production of more environment friendly products made by the petrochemical industry.”
