Prior to 1 July 2022, this fund was named the Recycling Victoria Markets Acceleration Fund.
| Number of recipients to date: | 2 |
|---|---|
| Total funding awarded to date: | $980,000 |
| All projects to be completed by: | December 2023 |
Fund recipients
Announcement date: 29 September 2022
APR Plastics
This project will create Victoria’s first operational Advanced Chemical Recycling (ACR) facility, which will recycle soft plastics into oil to be used by the plastic manufacturing industry in the production of new plastics.
Background
Reports led by government research organisations including CSIRO show that Advanced Chemical Recycling (ACR) is the most economically viable solution for recycling soft plastics back into food grade plastics.
Using this ACR process, APR Plastics will convert kerbside plastic waste, including post-consumer soft plastics, into a plastic crude oil. This oil will be refined back into the raw material that can be used by the plastic manufacturing industry in the production of new plastics.
The funding will allow APR Plastics to move from its pilot research phase, which is capable of processing up to 1 tonne of plastic per day (365 tonnes per annum), to a commercial operation. This will significantly increase processing capacity and support the diversion of plastic waste from landfill.
Funding: $250,000
Co-contribution: $3,550,000
Qenos
Funding to support Qenos to deliver a feasibility study assessing the viability of establishing a chemical recycling facility of residual plastics back into the raw ingredient for circular plastic manufacturing.
Background
Reports led by government research organisations including CSIRO show that Advanced Chemical Recycling (ACR) is the most economically viable solution for recycling soft plastics back into food grade plastics.
This study included identifying required plastic feedstocks (household soft plastic and mixed plastics) to be reprocessed for use by Qenos in their existing manufacturing facilities to produce circular plastics. It also investigated suitable waste management and technology partners before proceeding to a full engineering and costing study suitable for financial investment decision.
Funding: $730,000
Co-contribution: $3,816,000