OMV Is About to Build €81.6M Plastic Recycling Plant with EU Support ♻️

OMV, the Austrian energy and chemicals group, is set to construct its first industrial-scale ReOil chemical recycling facility in Schwechat, near Vienna, backed by up to €81.6 million from the EU Innovation Fund. The plant will use OMV’s proprietary technology to recycle up to 200,000 tonnes of mixed plastic waste per year into feedstock for new chemical production. This grant marks OMV’s largest-ever public funding for a single project. The funding agreement with the European Climate, Infrastructure and Environment Executive Agency (CINEA) has been signed, with a final investment decision expected soon.

October 2026

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