New Hope Energy

What New Hope Energy does

New Hope Energy is a US-based (Tyler, Texas) advanced recycling company that operates a pyrolysis technology platform to convert end-of-life plastics into circular chemical feedstocks. The system accepts mixed streams of HDPE, LDPE, PP and PS, including contaminated materials, multi-layer film and bulky rigids that mechanical recycling cannot process, and converts them into Py-oil, Cracked Gas and liquid Pitch at a stated 95% conversion rate with no landfilled byproducts. Its modular architecture and co-location model are designed to be integrated into existing heavy industrial sites with oil and gas infrastructure, a strategy the company says reduces CAPEX by up to 50% and accelerates deployment versus greenfield builds.

The company monetizes via the sale of circular products to petrochemical companies and consumer brands that need recycled-content inputs, structured as a transaction-fee revenue stream with negotiated, non-public pricing. Rather than selling to end customers, New Hope Energy operates a partnership-led go-to-market model seeking three counterparties per project: a co-location site partner hosting the unit, a funding investor, and an off-take buyer guaranteeing purchase of the circular output. Its pyrolysis technology was developed in strategic partnership with Lummus Technology, a global process-engineering firm, which provides engineering, procurement and construction capability for commercial deployment.

The business is at a pre-commercial inflection point. New Hope Energy ran a demonstration plant for five years (2019-2024) and is now actively recruiting co-location hosts, funding investors and off-take buyers to anchor its first commercial sites. The company employs 51-100 people and is privately held, with no public funding rounds, revenue figures or named commercial customers disclosed in the available data. It is led by CEO Rusty Combs.

Name

New Hope Energy

Legal name

New Hope Energy

Website

https://newhopeenergy.com

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

51–100 employees

Short description

New Hope Energy operates a proprietary pyrolysis platform that converts mixed end-of-life plastics (HDPE, LDPE, PP, PS) into Py-oil, Cracked Gas and liquid Pitch, selling circular feedstocks to petrochemical companies and brands via a partnership-led, co-located deployment model anchored by Lummus Technology.

Ownership category

akta.pro rank

Product category

Advanced Plastic Recycling

NAICS

Petrochemical Manufacturing (32511)

akta.pro primary industry

Waste-to-Energy (WtE) Incineration & Power/Heat Generation (EUAIACAG)

akta.pro secondary industry

Waste Pyrolysis (Plastics/tires/biomass-to-oil/char) (EUAAAKAF)

Keywords

• Plastic pyrolysis recycling
• Chemical recycling technology
• Circular plastic feedstocks
• Advanced plastic recycling
• Plastic waste recovery

Headquarters

HQ city

Tyler

HQ country

United States

HQ region

North America

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Technology or R&D, Infrastructure, Personnel, Marketing or Sales

Revenue model

1. Circular Product Sales: The company generates revenue by selling circular products produced from converted plastic waste including Py-oil, Cracked Gas and Pitch to off-take buyers such as petrochemical companies and brands.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

New Hope Energy operates advanced pyrolysis technology systems that convert end-of-life plastics (HDPE, LDPE, PP & PS), including mixed and contaminated streams, into circular chemical products: Py-oil, Cracked Gas, and Pitch. The technology is deployed through co-located units built with technology partner Lummus Technology at host industrial sites, delivering a 95% conversion rate and a zero-waste process.

Product overview

New Hope Energy offers a single unified pyrolysis technology platform for advanced plastic waste recycling. Their system transforms end-of-life plastics (HDPE, LDPE, PP & PS) into circular feedstocks including Py-oil, Cracked Gas, and Pitch. The modular pyrolysis system achieves 95% conversion rates and complements traditional mechanical recycling by handling contaminated materials, mixed plastic streams, multi-layer film, and bulky rigids that cannot be processed mechanically.

Differentiator

Problem solved

Functional benefit

Products and services

• Pyrolysis Technology System (Py-oil, Cracked Gas, and Pitch) New Hope Energy's flagship offering is a proprietary pyrolysis conversion system that processes end-of-life plastics (HDPE, LDPE, PP and PS), including mixed and contaminated streams, into three circular outputs: Py-oil, Cracked Gas, and Pitch. The system is deployed via co-located units built with technology partner Lummus Technology at host industrial sites, achieving a 95% conversion rate with zero waste and up to 100% lower GHG emissions versus fossil equivalents. Customers include petrochemical companies, consumer brands, and industrial site operators that host the units.

Quantifiable outcome

• 95% conversion rate of waste plastic into circular products
• +4 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

One partnership is on record.

• Lummus TechnologycoreStrategic or Co-development PartnerNew Hope Energy developed its pyrolysis technology in strategic partnership with Lummus Technology, a global leader in scaling chemical processes. Lummus brings expertise in engineering, procurement, and construction of processing facilities, enabling New Hope to scale its advanced recycling technology commercially. This partnership provides the technical foundation for the company's core operations.

Scale indicators5 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• Plastic Energy: Plastic Energy operates advanced pyrolysis plants converting end-of-life plastic waste into oils used as feedstock for new plastics, directly comparable to New Hope Energy's Py-oil and Cracked Gas production and customer segments.
• Agilyx: Agilyx runs a pyrolysis-based platform turning mixed waste plastics into crude oil and chemical feedstocks for petrochemical and refining customers — overlapping technology, feedstock, and offtake profile with New Hope Energy.
• Brightmark Energy: Brightmark's plastics renewal division uses pyrolysis to convert post-use plastics into fuels and feedstocks, closely matching New Hope's core pyrolysis platform and its focus on hard-to-recycle plastics.
• Quantafuel: Quantafuel operates pyrolysis plants producing pyrolysis oil for petrochemical and circular plastics applications, with comparable technology stack and offtake customer base to New Hope Energy.
• Renewlogy: Renewlogy operates pyrolysis-based advanced recycling facilities converting mixed plastics into naphtha-like feedstock for petrochemical customers, with comparable technology and customer focus to New Hope Energy.
• Mura Technology: Mura Technology uses supercritical steam-based advanced recycling to produce recycled feedstocks for plastics production, representing a closely adjacent technology platform and overlapping circular feedstock customer base.

Broad incumbents

• Eastman Chemical: Eastman is a major specialty chemical company with a commercial-scale polyester renewal (methanolysis) recycling platform serving the same circular-feedstock off-takers New Hope targets, with broader product portfolio and deeper customer reach.
• BASF (ChemCycling): BASF's ChemCycling initiative sources pyrolysis oil from partners to produce certified circular plastics, making it both a potential offtake customer and a broad competitor in advanced recycling feedstock markets.
• SABIC (TRUCIRCLE): SABIC's TRUCIRCLE portfolio includes certified circular polymers produced from pyrolysis-derived feedstock, overlapping directly with New Hope's petrochemical offtake customers and circular feedstock value proposition.
• ExxonMobil (Exxtend): ExxonMobil is investing in advanced recycling of plastic waste at scale, integrating pyrolysis output into its own cracker systems — a key incumbent competitor and a logical large-scale offtake counterparty.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/NewHopeEnergy

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about New Hope Energy