NOVA Chemicals, headquartered in Calgary, is contemplating a collaboration with Plastic Energy, a chemical recycling firm, to construct a pyrolysis plant in Sarnia, Ontario. The proposed plant, set to be the largest of its kind in Canada, is projected to process up to 66,000 metric tons of scrap plastic annually. This initiative aligns with NOVA Chemicals' 2030 sustainability objectives, which include increasing the utilization of recycled plastics and reducing the amount of plastic waste that ends up in landfills. The plant would employ Plastic Energy's patented TACOIL™ process to convert post-consumer plastic waste into a feedstock for creating new, virgin-quality polyethylene. This project would supplement NOVA Chemicals' existing CAD 2 billion investment in Ontario, potentially creating new jobs and contributing to the local and Canadian economies.

NOVA Chemicals is a significant player in the plastics and petrochemicals industry, boasting a total annual production capacity of approximately 3.8 billion pounds of polyethylene,1.8 billion pounds of ethylene, and 250 million pounds of co-products. In addition to their chemical recycling initiatives, NOVA Chemicals has also been active in mechanical recycling partnerships. The company has set an ambitious target to ensure 30% of its total polyethylene sales come from recycled sources by 2030. To this end, NOVA Chemicals has entered into purchase agreements with established plastic reclaimers Merlin Plastics and Revolution. The company also recently unveiled a range of recycled products under its NOVA Circular Solutions division. These efforts underscore NOVA Chemicals' commitment to creating a circular economy for plastics, where materials are reused and recycled, thereby minimizing waste and maximizing resource efficiency.