WAVE Jeongeup CEO Park Jung-woo poses after signing a sales contract with Trafigura, Tuesday. Courtesy of City Oil Field
City Oil Field, a company specializing in technologies that convert waste plastics into high-quality oil, said Friday that WAVE Jeongeup and Trafigura have signed a sales contract covering the entire output of naphtha-grade recycled feedstock produced at the former.
WAVE Jeongeup is a facility that uses City Oil Field’s proprietary noncombustion low-temperature pyrolysis technology.
The company said the deal marks the first overseas export of recycled feedstock produced with Korean-developed technology, signaling the beginning of its efforts to build a global supply chain.
According to the company, the agreement also marks the first export of ISCC PLUS-certified, naphtha-grade recycled feedstock made from waste plastics to a global commodities company such as Trafigura.
