BANGKOK, Thailand — October 25, 2019 — Indorama Ventures Public Co. Ltd. (IVL), a global chemical producer, is proud to announce its commitment as part of the New Plastics Economy to help create a world where plastic never becomes waste. The company is now accelerating its efforts in support of a very ambitious goal to increase recycled content volumes by at least 750,000 metric tons, while also recently pledging $1.5 billion towards achieving this target by 2025.
Indorama Ventures is among 400 organizations that committed to eliminate problematic plastic packaging, and increase the use of recycled plastic in packaging. The New Plastics Economy Global Commitment calls on companies and governments to innovate solutions enabling plastic to be 100-percent reusable, recyclable, or compostable. The Ellen MacArthur Foundation and the UN Environment Programme have released the first New Plastics Economy Global Commitment progress report, which reveals signatories’ efforts to manage plastic waste and pollution.
IVL wishes to invest globally in the circular economy and in new technologies that can steer further its aspiration of being a world-class chemical company making great products for society. The company announced a joint venture with Loop Industries aimed at commercializing their chemical recycling technology for sustainable PET packaging resin and Polyester fibers. In June 2018, the company has also unveiled its partnership with Ioniqa Technologies, together with Unilever Europe, to unlock the potential of PET recycling with ground-breaking technology to pioneer a new approach to processing PET waste as renewed feedstock for virgin PET.
In March 2019, IVL commenced commercial production and marketing of 100-percent rPET pellets made from post-consumer recycled PET bottles in Europe. Also in 2019, IVL will begin manufacturing rPET resin utilizing chemically recycled PCR PET feedstock, displacing fossil materials. Full-scale production of 10,000 metric tons per annum of feedstock from recycled PET is expected Q4 2019. Indorama Ventures Sustainable Solutions (IVSS), in the United States, can produce 30,000 tons of rPET Flakes and 10,000 tons of rPET chips, adding significantly to IVL’s global recycling portfolio.
Posted February 19, 2020
Source: Indorama Ventures Public Co. Ltd. (IVL)