SWESTEP – Chemical Transformation and Recycling Technology Boosts Corporate ESG Development
In the era of carbonomics, experts predict that carbon will become the third currency of the market, in addition to the US dollar and the Chinese yuan. Mr. Huang Jieping, CEO of Greatech Technology, said that Sweden has the highest carbon tax in the world, up to 122 euros per ton, which puts huge pressure on enterprises but also cultivates world-class carbon reduction capabilities. Greatech has introduced SWESTEP’s sustainable technology of chemical transformation and recycling from Sweden to help enterprises promote ESG (Environmental, Social, and Governance).
Greenhouse gases mainly come from fossil fuels, and coal combustion emits a large amount of carbon. Converting coal into oil is a good idea, but the cost of producing clean coal is too high. Data shows that Taiwan’s annual carbon emissions are about 280 million tons, of which Formosa Petrochemical Corporation alone accounts for 25 million tons, and with the affiliated companies in the group, the total accounts for nearly 20%. Although Yunlin County’s income is not high, its carbon emissions are not small, and Mailiao bears a significant responsibility. Groups such as Formosa Plastics, Uni-President, Evergreen, and China Steel actively seek carbon reduction solutions, and all have shown interest in SWESTEP and are carefully evaluating it.
SWESTEP can recombine the carbon and hydrogen molecules of seven recycled plastics into hydrocarbon bonds, producing naphtha oil that is similar to crude oil and can be further processed into chemicals such as ethylene. The conversion rate of SWESTEP is 85%, and the production cost of 1 liter of synthetic biodiesel is 0.5 euros, which can be as low as 0.3 euros for large-scale equipment. The residual 3% mineral salt residue can be used as fertilizer, achieving true zero-waste circular economy. One liter of this type of biodiesel can generate 5-10 degrees of electricity, and the cost of electricity generation per degree is even lower than nuclear energy, Huang Jieping said.
Large carbon emitters and the capital market are highly interested in SWESTEP. SWESTEP’s fully automated pre-processing process consists of 11 procedures and can run 24 hours a day. With a total cost of 20 million euros (about 660 million Taiwan dollars) for the complete set of equipment in the middle and later stages, the equipment can produce 1 ton of diesel per hour, and the estimated IRR of small and large equipment is 29% and 45%, respectively, with a recovery period of 5.5 years or 3.5 years. The negative pressure smokeless chimney equipment covers an area of 200 pings, including a total of 1,500 pings in the surrounding area. Compared with incinerators, it occupies several hectares of land. In Penghu, with a daily garbage output of 72 tons, only one set of equipment is needed.
Energy independence and security are crucial for island economies, and Taiwan is no exception. In the early stage, Greatech Technology aimed at Penghu and used SWESTEP to achieve a low-carbon island. The main benefits come not only from the processing fee but also from the renewable energy and carbon credits generated. Huang Jieping said that Japan exports technology and funds to Myanmar and the world through the Joint Crediting Mechanism (JCM) of carbon credits, following this model. There are more than 50,000 islands around the world, and international funds, including Saudi Arabia’s basic industry, are optimistic. Japanese venture capital, H & Q Asia Pacific, which was approved by the National Development Council at the end of last year, are sharpening their swords.
Mr. Huang Jieping together with Petter Sund, General Manager of Taiwan and Director of the Business Division of the Swedish Trade and Investment Council, at the Taiwan-EU Electric Vehicle Supply Chain Investment Cooperation Forum last year.
JP Morgan Friberg represented Swestep as speaker in Panaji, Goa India at the conference “URBAN SUSTAINABLE and SMART CITY EVENT”, where waste management was high on the agenda.
The conference was interesting, uplifting and productive, among the participants were decision-making politicians, university and several companies in the private sector working with waste management, infrastructure and urban planning.
INFORMATION – The Urban Sustainability and Smart City (USSC)
The USSC Event is a series of 4 events conducted under the India – EU Urban Partnership (IEUP), a project between the Ministry of Housing and Urban Affairs, Government of India, and the European Union, to support the implementation of smart, resilient and sustainable urban development in India.
On the agenda on the USSC Event was; developments in the areas of mobility, solid waste management and urban resilience. The event was facilitated by the AETS-IEUP project team over two days and have participants from the public and private sector from India and the EU.
LINK to EU News
SWESTEP is now ready for roll out of SWESTEP Plant’s – “The Next Generation Process Technology for Sustainable Recycling Production” –
The proven technology creates a market potential for sustainable production that is independent from traditional fossil energy forms.
It is a capital-efficient and a profitable solution that creates viable conditions and opportunities for both small-scale and large-scale installations, regardless of the customers, communities or geographic location.
The demand for renewable fuels and sustainable liquids used to produce climate friendly products is global scaled. Since the Industrial revolution, production of greenhouse gases and toxic chemicals have escalated tremendously, which has resulted in an urgency to replace fossil fuels with renewable alternative energy sources.
At present, the UN and the EU have all created directives to encourage the utilization of renewable fuels.
Time to take the next step
Time for change
#Swestep – All residues come to use
Meeting with Norrecco in Copenhagen Denmark
Positive signals from meeting with Norrecco. The dialogue is now entering the next phase of setting up SWESTEP Installations in Denmark.
Norrecco’s interest lies in strengthening its positioning in the Danish Recycling Market, through the ability to offer a more sustainable and viable alternative, especially in the field of plastic recycling.
The first step is to look at setting up a SWESTEP Plant in Copenhagen Harbor.
Karl Magnus Mattsson – SWESTEP
Søren Eriksen – Norrecco
Martin Porsgaard – NISA
Karsten Ludvigsen – Norrecco
Environment and Energy Fund Denmark – Support validation of Swestep’s process
Copenhagen politicians, just over three years ago, adopted a plan to start kick the recycling of the capital’s waste and limit the incineration. The plan meant that 45 per cent of household waste would be recycled in 2018, against 27 per cent in 2010. According to an evaluation made by the municipal officials January 2016, the goal could be achieved if one could find suitable technology that could produce renewable fuel/gas and fertilizers of industrial and household waste.
The municipality of Copenhagen is interested in testing the SWESTEP patented CC Process (Catalytic Conversion Process), which is a “Liquefaction Technology”. SWESTEP’s technology can offer sustainable renewable fuel and oil production by converting all forms of hydro carbon based waste and residues to renewable materials, such as synthesis fuels, chemicals, oils and polymers.
The purpose of this project is to validate results from SWESTEP’s technology. The goal is a more cost-effective, climate-friendly and sustainable way of using plastic waste for the production of renewable fuels.