GNC Energy Partners with Inzi ENT for Waste Resource Energy Generation Project

[Asia Economy Reporter Hyunseok Yoo] GNC Energy, a company specializing in emergency power generation equipment and eco-friendly renewable energy, announced on the 19th that it has signed a domestic first "strategic partnership for pyrolysis oil syngas power generation business" with Inji ENT, a pyrolysis oil production company located in Gyeongju.

Through this strategic partnership, GNC Energy will install a power generation facility capable of supplying 4000MW of electricity annually on Inji ENT's site by the end of this year. The electricity generated here will be transmitted to Korea Electric Power Corporation, and next year, a heat supply facility using waste heat will be additionally installed to supply thermal energy to factories within the industrial complex that require it.

Inji ENT is the largest pyrolysis oil production company in Korea, equipped with the latest waste plastic pyrolysis facility in the Yongmyeong Industrial Complex in Gyeongju, which began production in the second half of last year after completing the facility at the end of June. The produced pyrolysis oil is mainly supplied to large refineries and petrochemical companies.

Approximately 2.4 billion KRW will be invested in this project. Design will begin in February, followed by construction, commissioning, and approval procedures under relevant laws, with full-scale commercial operation scheduled to start in January next year. The power generation business permit application has already been submitted to Gyeongju City, and building and land use contracts have been signed with Inji ENT. The fuel required for power generation will use syngas (10~17%) that does not condense during the process of converting waste plastic into pyrolysis oil.

This project will apply patents and design and operation technologies acquired through research, development, and operation of "gas pretreatment and biogas combined heat and power" at its own technology research institute.

CEO Byeongcheol Ahn said, "Renewable energy businesses have been limited to biogas, fuel cells, and geothermal energy," adding, "With the government's active support starting this year, high growth is expected in the waste plastic recycling sector. We plan to expand related businesses to all waste resource energy fields and leap forward as the world's leading eco-friendly energy company by 2030."

This content was produced with the assistance of AI translation services.