Innovation is paramount as OMV ’s business model transitions to become an integrated sustainable chemicals, fuels and energy company, with plans to be CO2-neutral by 2050.
Ahead of ESF Europe, taking place in Vienna from the 25th – 28th February, Andreas Leitner, OMV Senior Vice President for Innovation & Technology, gives an insightful interview and outlines the company's ambitious innovation strategy to drive its sustainability transformation.
1. OMV is striving to achieve net zero by 2050, and you recently introduced a new brand identity to embody the company’s direction, anchored in sustainability and circularity. Can you tell us some of the significant progress in Innovation & Technology that OMV has already made?
To Transform – WE Innovate. At the core of our OMV transformation strategy, sustainability is the key driver for growth and innovation. To accomplish our set targets to become a net zero company by 2050, new innovations and technologies are pivotal to enable access to new feedstock sources like bio-feedstock, end-of-life plastics and CO2, new energy sources like geothermal and new products like sustainable aviation fuel and circular products. Our business-driven innovation approach together with our innovation ecosystem enable us to tackle challenging transformative focus areas like chemical recycling, where we have developed our proprietary ReOil® technology. Likewise, we work in OMV on a portfolio of new technologies which we strive to license to industry partners and interested customers.
2. Innovation is paramount as OMV’s business model transitions to become an integrated sustainable chemicals, fuels and energy company with a focus on circular economy solutions. How does OMV foster and promote a spirit of innovation?
“We’re Curious” and “We Progress” are two of our three core values at OMV. This is also reflected in our innovation journey where we strive to come up with new ideas and pathways to address challenges and opportunities in our transformation. OMV has a long tradition in innovation which enabled high profitability over a long period of time. This will be continued by adding new, complementary and diverse talent to our current team. Together with new focus areas like licensing of technologies, new hydrocarbon technologies in sustainable fuels and chemicals, Biotechnology and more, it generates the spirit and passion required to re-invent essentials for a more sustainable living.
3. One of your innovative solutions is ReOil®, a proprietary chemical recycling technology that converts end-of-life plastic waste into pyrolysis oil which is then used to produce high-performing and sustainable plastics. Could you discuss OMV’s approach to plastics recycling, the key attributes of the ReOil® technology, and how it is advantageous, especially in terms of its scalability, adaptability and environmental impact?
Today, most plastics follow a linear lifespan: they are produced, often used once, and then discarded. A significant portion of these plastics ends up in landfills or are incinerated. A circular economy offers a solution to this issue by reducing plastic waste.
OMV addresses these by transforming post-consumer plastic into a valuable resource through our proprietary chemical recycling technology, ReOil®. This technology converts end-of-life plastics into circular feedstock to produce chemicals, particularly new plastics. ReOil® offers significantly higher yields with lower energy consumption, embodying OMV’s commitment to circular economy principles, sustainability, and resource efficiency within the industry.
ReOil® is a highly scalable technology capable of enabling high-capacity single train plants. It can be seamlessly integrated into existing industrial setups, leveraging current assets. Additionally, it can be augmented with value-adding processes for product treatment, depending on customer needs. This proven integration into refinery processes ensures optimised yields and exceptional efficiency.
OMV has gathered more than 15 years of operational experience with ReOil®, thanks to rigorous testing and piloting. Between 2018 and November 2024, we achieved over 29,000 cracking hours in our industrial ReOil® pilot plant, fully integrated in our refinery and steam cracker facility in Schwechat, Austria. Beyond operating pilot and demo plants, OMV has mid-term plans to build and operate several commercial plants in addition to offering both joint ventures and direct licensing approaches. Our broad experience - from the pre-treatment of plastic waste to the sale of feedstock to end-application producers - gives us the know-how to support our customers across the value chain.
With our industry-leading HSSE record, we support our customers operate ReOil® plants with a zero-harm mentality.
4. It's widely agreed that no company can go through this energy transition alone, collaboration and partnerships are essential. Could you elaborate on any collaborations pivotal for OMV in accelerating innovation and technology development, and what makes these partnerships successful?
To transform, we innovate; and to innovate, we collaborate.
We partner with those who share our passion for transformation, knowing that the collective minds of many can offer diverse perspectives.
Achieving successful innovation requires harnessing the collective power of the brightest minds and strategic partnerships to maximize output. For example, we have signed a mutually exclusive collaboration agreement with Wood for the worldwide commercial licensing of our proprietary ReOil® technology.
Our expertise as the inventor, developer, and operator of ReOil® is complemented by Wood’s technical capabilities as a global leader in consulting and engineering solutions in the energy and materials markets.
OMV and Wood recognise the resources needed to optimize technology deployment and accelerate market entry.
Both companies fully understand the technology across its entire operating range, which has been incorporated into the design, thereby de-risking project execution and implementation.
OMV also partners and collaborates with universities and research institutions worldwide, including in Europe and the US, to attract young scientists and engineers to support our journey. More importantly, we aim to ensure that brilliant minds understand the contributions of our industry to the energy transition, join us, and work together with us towards a sustainable future.
OMV and its partners invest in long-lasting relationships, ensuring sustained collaboration and continuous improvement. Our partnerships and collaborations are built on a shared vision and common goals, which is the key to their success.
5. ESF Europe will proudly be held in Vienna with OMV’s support. What do you hope the discussions from the conference will help the industry to achieve over the next 12 months?
We aspire to drive progress for both ourselves and the industry.
Vienna, renowned as the most livable city in the world, exudes a positive energy that fuels inspiration. We aim to harness this momentum to our advantage.
OMV is proud to host ESF Europe 2025, and we are committed to providing inspiration and enabling innovative business solutions in future-relevant technologies for the industry over the next 12 months and beyond.
This should be our common sense of sustainability.
Like what you read?
OMV is the official co-host of the upcoming ESF Europe - Energy & Sustainability Forum, taking place in Vienna ion 25-28 February 2025. Join Andreas and OMV experts as they dive into key discussions on innovation and energy transition!
For more info, visit: europetro.com/esfeurope
