AP Moller Holding launches fossil-free plastic resin business

AP Moller Holding, parent company of shipping giant Maersk, has established Vioneo, a fossil-free plastic resin manufacturer, and plans to establish its first production site in Antwerp, Belgium. The company said Vioneo plans to invest 1.5 billion euros in the plant, which will benefit from the region's expertise in the chemical industry, strong export facilities and renewable energy.

Vioneo said it is in advanced discussions with several major global brands in a variety of industries such as healthcare, automotive, fast-moving consumer goods, beauty and home products on long-term offtake agreements.

Vioneo has developed a production process to produce fossil-free polypropylene (PP) and polyethylene (PE) on a large scale using green methanol as feedstock. Production will be powered by renewable electricity.

Front-end engineering design (FEED) for the Antwerp plant will begin in the fourth quarter of 2024, with a final investment decision (FID) likely in 2025. Commercial operations are expected to start in 2028.

The company has appointed Jan Secher as Chairman of the Board and Alex Hogan as Chief Executive Officer, effective November 11, 2024.

“AP Moller Holding is committed to driving the transition to low-carbon and fossil-free energy by advancing green methanol production and its application in various sectors. The launch of Vioneo marks an important step in this commitment,” said Jan T. Nielsen, Chief Investment Officer of AP Moller Holding.

“Vioneo represents a strategic shift in plastic production. By adopting advanced, proven technologies and green methanol, we are addressing the fundamental environmental challenges associated with traditional plastics while providing Europe with a major opportunity to lead the defossilization of the €5 trillion global chemicals and materials industry, ensuring Europe is at the forefront of the transformation,” added Jan Secher.