A.P. Moller Holding Launches Fossil-free Plastic Resins Business
A.P. Moller Holding, the mother company of shipping giant Maersk, has launched Vioneo, a manufacturer of fossil-free plastic resins and intends to establish its first production complex in Antwerp, Belgium. The plant, in which Vioneo plans to invest €1,5 billion, will benefit from the region’s expertise in the chemicals industry, strong export facilities and access to renewable energy, the company said.
Vioneo stated that it is in advanced discussions with several major global brands from various industries, including healthcare, automotive, fast moving consumer goods, beauty and home products, regarding long-term offtake agreements.
Vioneo has developed a production process in which green methanol is used as a starting material for the large-scale production of fossil-free polypropylene (PP) and polyethylene (PE). The production will be powered by renewable electricity.
Front-end engineering design (FEED) for the Antwerp based plant is set to begin in the fourth quarter of 2024 with potential final investment decision (FID) in 2025. Commercial operations are expected to start in 2028.
The company appointed Jan Secher as chair of the board of directors and Alex Hogan as CEO, effective Nov. 11, 2024.
Jan T. Nielsen, chief investment officer of A.P. Moller Holding, commented: “A.P. Moller Holding is committed to driving the transition to low-carbon and fossil-free sources by advancing green methanol production and its applications across various sectors. The launch of Vioneo marks a significant step in this commitment.”
Jan Secher added: “Vioneo represents a strategic shift in plastics production. By adopting advanced proven technologies and green methanol, we are addressing fundamental environmental challenges associated with conventional plastics, while simultaneously offering a significant opportunity for Europe to lead the defossilization of the €5 trillion global chemicals and materials sector, securing a leading position for Europe in the transition.”
