Get rid of excess fluids by dumping them into the ocean. Get rid of items by dilluting them in water, creating waste water. Offshore dump can be placed into any ocean or on a space platform.
How do I mix the junk with water? In the images you have posted it shows that waste is created in the chemical plant, but I can't seem to find a recipe for waste in the chemical plant after downloading the mod.
Thank you for the report, that was my mistake, the research technology was set up incorrectly. I fixed it in version 0.1.2, now it should work. Update the mod and you should see the recipe in chemical plant now.
Sorry for this bug, I should have tested it more thoroughly before releasing :)