Orthios assets put up for sale

Orthios had originally planned to have the plant, on the site of a former aluminium smelting works in Anglesey, online this year.

The plastic to oil facility, which included a materials recycling facility (MRF), was also the beneficiary of a £1.2 million grant from the government’s coronavirus business interruption loan scheme in 2021 (see letsrecycle.com story).

However, the company went into administration last week.

In a statement from the administrators Begbies Traynor yesterday (11 April), it was confirmed that the assets for sale include a “near complete plastics depolymerisation unit (PDU).”

The statement added that the plant still requires completion and commissioning, with an “estimated development spend to date in the region of £21.6 million”. A MRF designed to provide feedstock for the plastic to oil plant and 230-acre former aluminium works housing the operations will be included, the administrators informed.

The anticipated output of the plant is 26,280 tonnes of plastic to 16.5million litres of oil.

History

Orthios began developing the former aluminium works in 2015. Apart from the secured £1.2 million government grant, the company applied for additional funding for equipment to process biomass into biogas.

Orthios’ application for the coronavirus funding was supported by Virginia Crosbie, Conservative MP for Ynys Môn.

At the time, the company said that both loans “will help create full-time jobs” (see letsrecycle.com story).

Orthios had secured a supply agreement with Cheshire-based Totus Environmental in October 2021. Once the plastic to oil plant was operational, Totus was contracted to supply Orthios with 27,000 tonnes of post-consumer plastic per year.

At the time, the company’s chief executive Sean McCormick said Orthios “can look forward to playing a significant part in reducing fossil fuel dependency, tackling climate change and building a sustainable, prosperous and carbon-neutral future” (see letsrecycle.com story).

Asher Miller, a joint administrator to the company from Begbies Traynor, said: “This is a rare chance to acquire a valuable and near-complete green technology asset”.

He added that although further investment is required to complete the facility, “it presents potential buyers an attractive opportunity to enter this fast growing and exciting sector.”