Borealis Injects €4.5M into Porvoo Cracker for Boosting Circular Material Production
Borealis Injects €4.5M into Porvoo Cracker for Boosting Circular Material Production

Borealis Injects €4.5M into Porvoo Cracker for Boosting Circular Material Production

  • 10-Apr-2024 12:17 PM
  • Journalist: Francis Stokes

Borealis has announced intentions to allocate a substantial EUR 4.5 million investment towards enhancing the cracker furnaces within its olefins unit located in Porvoo, Finland. This strategic investment is poised to bolster the Porvoo steam cracker's capacity to utilize an increased share of renewable and recycled raw materials in its Base Chemicals (ethylene and propylene) production—aligning seamlessly with Borealis Strategy 2030 and propelling the transition towards a circular economy. The investment initiative at the Porvoo site, already underway and slated for completion by 2025, comes on the heels of a notable cracker furnace upgrade accomplished last year at the Stenungsund facility in Sweden.

The Porvoo steam cracker, boasting a nameplate capacity of 430 kilotons of ethylene and 263 kilotons of propylene annually, serves as a pivotal component within a highly integrated petrochemical complex, catalyzing the thermal "cracking" process of various feedstock such as naphtha, propane, butane, and liquefied petroleum gas (LPG) into smaller molecules. At the core of this investment lies the modification of three out of ten cracker furnaces in the olefins unit, facilitating an aggregate annual production capacity of 120 kilotons of base chemicals derived from renewable and recycled feedstocks. Notably, base chemicals produced through renewable and chemically recycled processes at Borealis' Porvoo site have garnered the prestigious International Sustainability and Carbon Certification (ISCC Plus). This certification, operating on a voluntary basis, encompasses the entire supply chain via mass balance accounting, guaranteeing adherence to the highest environmental benchmarks.

Wolfram Krenn, Borealis Executive Vice President Operations and Base Chemicals, remarked on this transformative investment, stating, "With an unwavering focus on redefining essentials for sustainable living, our EUR 4.5 million investment in the Porvoo steam cracker represents a significant stride towards realizing the circular economy vision. Through strategic furnace modifications and a steadfast commitment to leveraging renewable and chemically recycled base chemicals, we are poised to elevate our annual production capacity to 120 kilotons, charting a course of environmental stewardship and economic resilience."

Borealis stands as a global leader in providing advanced and sustainable polyolefin solutions, with a strong foothold in Europe's polyolefins recycling sector and significant presence in base chemicals production. Drawing upon its extensive polymer expertise and decades-long experience, Borealis delivers value-added, innovative, and circular material solutions across critical industries such as consumer products, energy, healthcare, infrastructure, and mobility.

Operating with a customer base spanning over 120 countries and headquartered in Vienna, Austria, Borealis boasts a workforce of approximately 6,000 employees. In the fiscal year 2023, the company achieved a net profit of EUR 216 million. Borealis is primarily owned by OMV, an integrated energy, fuels, feedstock, and chemicals company headquartered in Vienna, Austria, holding a 75% stake. The remaining 25% is owned by the Abu Dhabi National Oil Company (ADNOC), based in the United Arab Emirates (UAE).

Related News

Asahi Kasei, Mitsui Chemicals, Mitsubishi Chemical Join Ethylene Decarbonization Feasibility Study
  • 10-May-2024 3:11 PM
  • Journalist: Stella Fernandes
Shell to Sell Refining and Chemicals Assets in Singapore to CAPGC
  • 09-May-2024 11:33 AM
  • Journalist: Robert Hume
European Ethylene Prices Nudge Higher ahead of tight Supply and high Feedstock Cost
  • 08-May-2024 2:47 PM
  • Journalist: Rene Swann
Petrochemical Giants Shut Down Plants Yet Ethylene Prices Show No Improvement
  • 26-Apr-2024 4:15 PM
  • Journalist: Jacob Kutchner