Braven Environmental Cancels Texas Chemical Recycling Plant Project
Braven Environmental has terminated plans for a $145 million pyrolysis facility in Texarkana, Texas, which was expected to create at least 10 jobs. This decision follows a similar withdrawal from a project in Virginia, indicating challenges in executing new recycling initiatives.
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Braven Environmental will not proceed with its planned pyrolysis facility in Texarkana, Texas, which was part of a project valued at approximately $145 million. The project was set to benefit from tax incentives under the state's Jobs, Energy, Technology and Innovation program, promising job creation and significant investment in the region.
The company had previously established a long-term offtake agreement with BASF for pyrolysis oil, but the status of this agreement is currently unclear. Braven's cancellation follows an earlier failed attempt to establish a manufacturing operation in Virginia, raising concerns about the viability of new chemical recycling ventures in the region. The Texas area continues to attract chemical recycling projects, bolstered by existing petrochemical operations and incentives, as seen in ExxonMobil's recent expansion in Baytown.
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