Major Investment of 680 Million Yuan! Rizhao Sumao Large-Scale Waste Plastic Chemical Recycling Project Announced

1. Project Overview

This project, the Mixed Waste Plastic Chemical Recycling (PCR) Project (Phase I) of Rizhao Sumao Environmental Technology Co., Ltd., is a new construction project. It is located in the Haiyou Chemical Industry Park in Rizhao, on the plot north of Fu'an Road and west of Tongda Road. With a total investment of 680 million yuan (CNY 680 million), the Phase I construction involves building one set of waste plastic chemical recycling (PCR) facilities. This primarily includes a 200,000 tons per annum (t/a) plastic-to-oil (PTO) unit, a 400,000 t/a plastic oil-to-olefins (OTO) unit, and a 200,000 t/a olefins recycling (ORR) unit. The production capacity is set for 180,375.4 t/a of polymer-grade propylene, with co-production of butane (22,520.8 t/a), propane (1,326 t/a), and light oil (123,521.3 t/a).

2. Comy's Core Technologies

Comy possesses two major core proprietary technologies: "Low-Temperature Low-Pressure Catalytic Cracking and Catalytic Reforming (PTO)" and "High-Selectivity Catalytic Cracking and Olefin Reforming (PTP)".

• PTO Technology (Waste Plastic to Pyrolysis Oil): Using waste plastics like PP, PE, and PS as feedstock, this process employs low-temperature, low-pressure catalytic cracking combined with catalytic reforming, alongside customized catalysts. Its carbon-hydrogen utilization rate exceeds the industry average by 20%. The resulting pyrolysis oil can be sold to leading multinational chemical companies for producing recycled plastics, achieving a premium price.
• PTP Technology (Waste Plastic Directly to New Plastic): Utilizing high-selectivity catalytic cracking and olefin reforming technology, this process precisely controls reactions to directly produce key components for new plastics, such as ethylene, propylene, and BTX. Its carbon-hydrogen conversion efficiency is 15%-20% higher. This process does not rely on traditional petrochemical refining and can achieve a closed-loop full process within a single factory, offering superior industrial chain benefits.

3. Core Strategy and Industrial Layout

Comy's core strategy revolves around "Technology Licensing + Joint Venture Partnerships," continuously expanding the reach of its waste plastic chemical recycling business and building a collaborative matrix that spans both domestic and international markets.

• Technology Licensing & International Project Delivery: Comy has secured China's first chemical recycling technology licensing deal, providing technical support to a NASDAQ-listed petrochemical company for a 40,000 t/a waste-plastic-to-oil project in Weifang, Shandong. Furthermore, it has achieved the first international export of a complete Chinese chemical recycling technology and package to a European multinational petrochemical giant, breaking the monopoly held by Western technologies, with construction expected to commence in early 2026.

• Deepened Collaboration with Central SOEs: Comy is partnering with China National Chemical Engineering Group (CNCEC), a central state-owned enterprise, to jointly develop cutting-edge technologies, build a global supply chain for recycling plastic resources, and promote the establishment of a global "lighthouse factory" for producing new plastics from waste plastics.

• Enabling Brand ESG Transformation & Circular Model Replication: Comy is assisting brand companies with their ESG transitions, having created a national benchmark for polypropylene chemical recycling by transforming discarded cosmetic packaging plastics from Shiseido into virgin-grade polypropylene resin for new packaging. This successfully demonstrates a complete loop from "waste plastic → new plastic → consumer product." This model is now being extended to other areas, such as automotive and ocean plastic recycling, further expanding the boundaries of the industrial ecosystem.