Breakthrough for sustainable recycling process
Can the Swedish company SWESTEP’s cutting edge technology become one of Sweden’s next major exports?
In 2019, spades are put into the ground for two plants in Sweden. Contracts for deliveries are also signed by a number of customers on several continents.
SWESTEP has for some years been working to develop and commercialize a process that can produce renewable fuels from several sources, including household waste and residues from forestry, agriculture and industry.
– Recycling companies, several fossil-dependent industries and municipalities now contact us directly. In addition to waste management in general, the challenge for many municipalities is to solve the problem of plastic recycling. Most of the plastic waste is being burned today, says Karl-Magnus Mattsson, founder and CEO of SWESTEP.
The technology was developed within the Siemens Group and was further developed by the company’s former research director. Now that the first SWESTEP plants are being projected, SWESTEP will pass many competing technologies, many of which still have a long way to actual production.
– SWESTEP’s end-product has the same characteristics as high-quality fossil oil. In addition to renewable fuels for transportation on land, our product can also satisfy the needs for shipping and air traffic, says Karl-Magnus Mattsson. -There are already some well-functioning facilities in the world using earlier versions of the technology, but it’s only now the sale of turnkey SWESTEP plants can take place in a larger scale.
SWESTEP’s unique recovery technology can process and recycle all types of hydrocarbon-based waste and residues at a molecular level. The facilities are scalable and flexible, both with regard to input material and end product.
”The patented recycling process can be described simply as copying nature’s way of producing fossil oil, but with SWESTEP’s process it only takes 6 minutes, explains Karl-Magnus Mattsson and concludes, ”Through agreements with Green Fund Finance we can now offer customers a really attractive financing solution which opens up the market for us.
The price of emission allowances for carbon dioxide rises to the skies
In August, the price of emission allowances has risen to over 21 dollars per ton, the highest level of a decade.
The EU Emissions Trading Scheme is an instrument for cost-effective reduction of greenhouse gas emissions. The system is based on common EU rules, covering all member states and Norway, Iceland and Liechtenstein. EU emissions trading began in 2005. Since its inception, the system has been expanded step by step and now applies to more industries.
Today, some 13,000 European facilities are included in the system, of which about 750 are in Sweden. Many facilities are located in energy-intensive industry and energy production.
The trading system has received a lot of criticism over the years but now it seems that Europe finally got it.
During the third week of August, the price of emission rights to over 20 dollars per ton, the highest level in a decade.
But not only that. Costs to generate electricity from both coal and gas have also risen sharply since the beginning of 2017, not least because the price of imported coal and gas has risen.
The cost of generating electricity from coal has risen by 72 percent to 46 euros per MWh and the equivalent for gas is 43 percent to 49 euros per MWh.
An analysis by Berenberg Bank argues that the shortage of allowances will be able to drive the price up to 100 euros per ton by 2020.