SK Incheon Petrochem partnering LD Carbon tyre-derived oil project

SK Incheon Petrochem, a petrochemical wing of South Korean conglomerate SK Group’s intermediate holding company SK Innovation, has made an equity investment into LD Carbon, uses pyrolysis to extract oil from end-of-life tyres. The news confirms earlier reports that LD Carbon was being backed a South Korean petrochemical firm.

“With the latest investment in LD Carbon, SK Incheon Petrochem will be able to secure know-how on tire pyrolysis oil to expand our position in the related industry,” said SK Incheon Petrochem CEO Choi Yunseok, adding: “We will endeavour to grow as a company that is helpful to our environment and society through expanding our eco-friendly business portfolio based on resource circulation.

“We will make an early start in the recycled oil-based business model market through cooperation with LD Carbon and expand our business by partnering with global companies”.