In July 2022, China Tianying (CNTY) and Honeywell UOP signed a cooperation agreement for a waste plastics chemical recycling project. Yan Shengjun, Chairman of CNTY, Yang Jing, Vice President of CNTY, Vimal Kapur, President and CEO of Honeywell PMT, Barry Glickman, Vice President of Honeywell PMT, and Liu Maoshu, Vice President Honeywell PMT attended the signing ceremony.

Honeywell UOP is a leading global provider of process technology, catalysts, adsorbents, equipment and services to the petroleum refining, petrochemical, gas processing and renewable industries. The collaboration focuses on the high value use of waste plastics, using Honeywell's UpCycle process to convert mixed waste plastics into high quality recycled polymer feedstock (RPF). Honeywell's UpCycle process technology uses industry-leading molecular conversion, pyrolysis and contaminant management technologies to convert waste plastics into recycled polymer feedstock, and when combined with other chemical and mechanical recycling processes and improved collection and sorting processes, the UpCycle process technology is expected to increase the proportion of recyclable plastic waste to 90% globally.

The two parties will work together on China's first RPF plant, integrating their respective strengths in engineering design, process technology, construction and operation, and maintenance. A joint working group will be set up to safeguard the rapid and smooth implementation of the project. In addition, the two sides will also explore opportunities for cooperation in waste plastics pre-treatment and thermal cracking equipment manufacturing.

Yan Shengjun, Chairman of CNTY, said he looked forward to working with Honeywell to create a benchmark project in the field of resource recycling, unleashing the technical and social value of the project, promoting green development and improving the quality of human environment. With its advanced and diversified environmental management experience, combined with Honeywell's chemical recycling technology for waste plastics, CNTY will contribute to the flexible practice of circular economy strategy, play a leading role in the project and promote the recycling and reuse of the earth's resources.

Honeywell's UpCycle process technology not only expands the range of recyclable plastics and enables a closed-loop plastic-to-plastic cycle, but also helps reduce the consumption of fossil fuels in the manufacture of virgin plastics and reduces the carbon footprint, said Vimal Kapur, president and CEO of Honeywell PMT, Honeywell is delighted to be working with CNTY to solve the challenge of reusing waste plastics through the commercial application of innovative technology, promoting a circular economy in China and globally, and moving plastics towards a more sustainable future.

As a listed company engaged in zero-carbon new energy, intelligent environmental services and recycling of renewable resources, CNTY always insists on promoting enterprise development with technological innovation and low-carbon recycling technologies, and continues to make efforts in the construction of high-value utilization system of renewable resources, building green sorting centres in many cities across China, reshaping the recycling network of renewable resources, and realizing waste through AI intelligent technology empowerment. The cooperation with Honeywell is an important step in improving the construction of a high-value waste utilization system, which will help upgrade the recycling industry, establish a new business model and support the development of the circular economy.

The signing ceremony