New Hope Energy

New Hope Energy is a startup tackling plastic waste. The company uses pyrolysis technology to convert waste plastic to an oil feedstock with applications across the plastic packaging industry. The company claims it can achieve a 95% waste plastic conversion to product rate and a 50% reduction in the carbon lifecycle through its process.

New Hope Energy launched its Trinity Oaks Tyler processing facility in 2018, with a processing capacity of 150 tons per day or 50,000 tons per annum. The company claims that it will be the world’s largest pyrolysis facility following an expansion due for completion in early 2024, adding 420 tons of daily processing capacity, allowing New Hope to divert over 150,000 tons of plastic waste from landfills annually. The company is projecting an annual capacity of 4,500 kilotons globally by 2030.

Key customers and partnerships

In May 2018 , multinational energy company Total Energies partnered to develop the Trinity Oaks Tyler processing facility. Total Energies will also purchase part of the feedstock produced, along with chemical and material sciences company Dow, which partnered with the company in January 2022.

In October 2020, petrochemical process and equipment licensing company Lummus Technology partnered with the company to further develop the pyrolysis technology used by New Hope. In December 2021, the companies expanded the partnership to combine technologies and license these to recycling operators.

In May 2022, S&B Engineers and Constructors entered a multi-year partnership with the company to provide engineering, procurement, and construction (EPC) services for New Hope Energy’s plastics pyrolysis unit, beginning with the expansion of its Trinity Oaks Tyler facility.