OMV launches environmentally friendly ReOil® project for plastic recycling revolution

OMV launches environmentally friendly ReOil® project for plastic recycling revolution

OMV has taken a decisive step towards a sustainable future! On March 12, 2025, it was announced that OMV had received funding of up to 81.6 million euros from the European Union. These funds come from the EU Innovation Fund and represent the highest public support OMV has ever received for a single project. The goal is to build an industrial ReOil® plant in the Schwechat refinery that can recycle up to 200,000 tons of used plastics annually. This plastic waste, which would normally end up in landfills or incinerators, is to be converted into sustainable basic chemicals using the patented ReOil® technology. This is an important step for the circular economy and the reduction of CO2 emissions, such as APA OTS reported.

Innovative technology for the future

OMV is also planning a chemical recycling demonstration plant with a capacity of 16,000 tons per year. The start of production of this system is scheduled for early 2023. This demonstration plant will convert plastic waste that is not suitable for mechanical recycling into valuable raw materials that can then be used to produce new, high quality plastics. This initiative is based on the “Green Loan Principles” and shows OMV’s commitment to an environmentally friendly future OMV.de.

The ReOil® technology has already proven itself in a pilot plant that has been in operation since 2018. The results are promising: They show that the process works efficiently and has the potential to contribute significantly to resource optimization and lower CO2 emissions. OMV is not only focusing on innovation, but is also creating up to 50 new jobs in the Schwechat refinery, which underlines the economic aspect of switching to a circular economy. Alfred Stern, CEO of OMV, emphasizes that this technology offers a sustainable solution and supports the achievement of climate goals by 2050.