Lamor Recycling plans to build a chemical recycling plant for plastics in Kilpilahti, Porvoo are progressing on schedule, with the foundation stone laying ceremony taking place today. The Finnish Climate Fund decided to get involved in the construction of the plant with a capital loan of EUR 6 million in May.
Lamor Recycling’s new chemical recycling plant in Kilpilahti uses pyrolysis technology to liquefy plastic waste and turn it into pyrolysis oil. Pyrolysis oil can be used as a substitute for fossil crude oil in the production of new plastics components and chemicals. The technology also makes it possible to reuse plastics that are difficult to recycle, instead of having to dispose of them by incineration as waste. Plastics made from recycled feedstocks have all the same properties as those made using virgin feedstocks and are safe to use in demanding applications, such as in the food industry.
The Finnish Climate Fund attended the foundation stone laying ceremony in Kilpilahti on 31 August 2023. ‘It is important for the Finnish Climate Fund to take part in accelerating the deployment of new ways to solve the plastics challenge, and Lamor Recycling’s plant in Kilpilahti promises to recover valuable raw materials that are currently wasted. The Climate Fund conducted a careful analysis of the project against its own investment criteria and decided to get involved with a EUR 6 million capital loan, primarily thanks to the project’s contribution to the circular economy and feedstock efficiency. It is great to see that the construction project is progressing on schedule’, says Sampsa Hämäläinen, the Finnish Climate Fund’s Manager, Investments.
The Kilpilahti plant will have an annual capacity of approximately 10,000 tonnes, making it one of Finland’s first industrial-scale chemical recycling plants for plastics. Its annual emissions reduction capacity is estimated at 19,000 tonnes of CO2-eq on average, and the plant’s cumulative ten-year emissions reduction potential is estimated at approximately 0.2 million tonnes of CO2-eq. The Kilpilahti plant serves as a reference for Lamor, which has its sights set on scaling up the operation, thereby also increasing the total emissions reduction potential considerably.
More information: Finnish Climate Fund: EUR 6 million capital loan to Lamor Resiclo solving the recycling challenge of plastics
Additional questions:
Saara Mattero, Director, Communications and Sustainability, tel. +358 400 114 777, saara.mattero@ilmastorahasto.fi
Mika Pirneskoski, CEO, Lamor Corporation Oyj, tel. +358 40 757 2151, mika.pirneskoski@lamor.com
The Finnish Climate Fund is a Finnish state-owned special-assignment company. Its operations focus on combating climate change, boosting low-carbon industry and promoting digitalisation. The Climate Fund invests in large-scale projects in which the fund’s investment is crucial to enable the project’s realisation in the first place, on a larger scale or earlier than it would with funding from elsewhere.
Lamor is one of the leading global providers of environmental solutions. Lamor provides its customers with versatile environmental protection and material recycling solutions and services, such as clean-up and preparedness services related to oil spill response and environmental incidents, services for the treatment of waste, recycling of plastics, and tailored and adapted soil and water treatment solutions. Lamor operates together with its local partners, offering a wide selection of solutions, which can be tailored according to the needs of each customer, and aiming to clean the world, for which the company has worked since its incorporation. The company’s share is listed on the Nasdaq First North Premier Growth Market Finland marketplace maintained by Nasdaq Helsinki under the trading code LAMOR. Further information: www.lamor.com