Versalis launches new ‘Hoop’ technology to recycle mixed plastic waste into high-grade feedstock for new plastics.
The project is part of Eni’s €2B strategy to transform its struggling chemical division through sustainable innovation.
A full-scale plant in Priolo, Sicily, is under consideration, with a final investment decision expected in 2026.
Versalis, the chemical subsidiary of Italian energy giant Eni, has inaugurated a demonstration plant in Mantova, Italy, showcasing its proprietary chemical recycling technology, Hoop. The technology enables the transformation of mixed plastic waste into new plastic materials—including those suitable for food and pharmaceutical packaging.
“This marks a significant milestone in our path to industrialize advanced recycling,” said Adriano Alfani, CEO of Versalis. “A final investment decision on the new recycling plant in Priolo could come next year.”
The unveiling comes as Eni seeks to reverse €3 billion in losses from its chemical business over the past five years. The company has pledged to invest €2 billion by 2029 to shift its chemicals division toward higher-margin and lower-emissions activities such as bio-refining, energy storage, and plastics recycling.
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European petrochemical firms have faced intense pressure from oversupply in China and rising energy and feedstock costs, forcing players like Eni, TotalEnergies, and BP to shutter older facilities or divest assets. Eni plans to close its steam cracker in Priolo by year-end as part of this restructuring.
Developed with Italian engineering partner S.R.S. (Servizi di Ricerche e Sviluppo), the Hoop system boasts high recovery yields and accepts a wide range of plastic waste inputs—critical to improving the economics and scalability of chemical recycling.
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