SK Incheon Petrochem invests in LDC to recycle waste tires

• Published date: 05 March 2023
• Publication title: The Korea Times

SK Incheon Petrochem, the petrol business subsidiary of SK innovation, the energy affiliate of SK Group, has invested in a promising local pyrolysis startup LDC (Life re-Defined Carbon) to produce 20,000 tons of eco-friendly products per year from as early as the first half of next year.

Pyrolysis is a common technique used to convert plastic waste into solid, liquid and gaseous fuels. It helps in the green transformation of the otherwise fossil-fuel-oriented energy firms.

The petrol affiliate said Sunday that it has signed a three-way contract with the startup and Korea Development Bank, in order to establish a pyrolysis facility. The construction of the facility is the first step toward expediting its waste tire recycling business, which the firm says will foster sustainability-driven green future growth.

The SK investment together with the issuance of convertible bonds (CBs) overseen by the state-run lender will help optimize the faster implementation of pyrolysis technology whereby the stable supply of oil made from recycled waste tires will help guarantee effective production planning.

The SK affiliate expects the plan to...