HCpect Signs Agreement with Yueyang Municipal Government to Build Full Industrial Chain for Chemical Recycling of Waste Plastics

December 15th – The Yueyang Municipal People's Government and Qingdao HCpect (formerly Qingdao Huicheng Environmental Protection Technology Group Co., Ltd.) held a project signing ceremony. Li Zhi, Deputy Secretary of the Yueyang Municipal Party Committee and Mayor, and senior leadership representatives from HCpect delivered speeches.

— 1 — Yueyang & HCpect

As a crucial node city on the Yangtze River Economic Belt and a core growth pole for Hunan's petrochemical industry, Yueyang's orientation of "ecological priority and green development" highly aligns with HCpect's development strategy of focusing on resource recycling and empowering the green petrochemical sector. HCpect possesses the globally pioneering Catalytic Pyrolysis Depolymerization for Complex Composition (CPDCC) "one-step" core technology. This technology can directly convert low-value mixed waste plastics from household, agricultural, and industrial sources into green olefins and mixed aromatics, transforming "white pollution" into "black gold". The world's first 200,000-ton scale industrial plant has been successfully built and put into operation in Jieyang, Guangdong, fully validating the technology's stability and product conversion rate. A closed-loop full industrial chain from low-value waste plastics to high-end polyolefin products has been achieved, providing an innovative solution to the global challenge of plastic pollution.

— 2 — Details of the Agreement

Through this signing, HCpect has reached three planned collaborations: a low-value waste plastic resource recovery project with Yueyang City, a sorting and cleaning center project with the Yunxi District People's Government, and a waste plastic pyrolysis project with the Yueyang Green Chemical Hi-tech Industrial Development Zone. These three projects are interconnected step by step. The efficient construction and operation of the front-end recovery and sorting/cleaning centers will provide stable and sufficient raw material supply for the back-end pyrolysis, serving as a crucial foundation for promoting the future implementation of the waste plastic chemical recycling project. Upon implementation in Yueyang, the project is planned to reduce carbon dioxide emissions by approximately 9 million tons annually and replace 3.6-5.4 million tons of crude oil consumption. The produced olefins, aromatics, and other products can be directly supplied to local petchemical enterprises, connecting upstream and downstream industrial chains and promoting the regional petrochemical industry's transition towards higher-end and lower-carbon development.

During the meeting, Mayor Li Zhi emphasized that the signing marks the beginning of cooperation, and tangible results from implementation are the key to mutual success. He expressed hope that the relevant county-level cities, districts, and municipal departments would take this signing as an opportunity to proactively provide services and remove obstacles throughout all stages, including project approval, factor guarantees, and facility support, ensuring smooth project development. The Municipal Party Committee and Government, he stated, consistently uphold the principle of valuing, welcoming, reassuring, and enriching businesses, and will fully support HCpect in investing and developing with confidence in Yueyang. HCpect, in turn, will accelerate the planning and implementation of the project, fully leverage its advantages in capital, technology, and talent, and advance project construction with high quality and efficiency, ensuring the project commences and reaches full capacity as scheduled. The goal is to transform this green, low-carbon industrial chain into a new driving force for promoting the high-quality development of Hunan's trillion-yuan modern petrochemical industry cluster.