Sealed Air Invests in Recycling Company Plastic Energy
Through this collaboration with Plastic Energy, Sealed Air is helping to eliminate plastic waste, support complementary approaches to recycling and enable its customers to incorporate recycled plastics back into their packaging.
Sealed Air Corp. has signed a collaboration agreement with Plastic Energy, a company involved in advanced recycling technology. Additionally, Sealed Air has made an equity investment in Plastic Energy Global, the parent company of Plastic Energy.
Plastic Energy Global was established in 2012 with the goal of creating a circular economy for plastics by diverting plastic waste away from landfills and oceans. Headquartered in London, the company has two operations in Spain and projects developing in Western Europe and Asia, with a vision for 50 new facilities over the next 10 years.
"We’re excited to join forces with Plastic Energy to innovate faster and accelerate the development of new technology that eliminates waste and ensures a circular economy for plastics,” said Ted Doheny, Sealed Air President & CEO. “This collaboration will help us meet our 2025 sustainability pledge and lead the way in transforming our industry.”
Plastic Energy has a technology platform that enables the diversion of waste plastic away from landfills, with the goal of processing 300,000 tonnes of plastic by 2025. Plastic Energy transforms post-consumer plastic waste into new recycled oil that can be used to create essential packaging solutions, including protective packaging for food, thereby enabling plastic to become a new resource.
In 2018, Sealed Air pledged to design and advance packaging solutions that are 100% recyclable or reusable by 2025. As part of the pledge, the company has a target of 50% average recycled content across all packaging solutions with 60% of that coming from post-consumer recycled content.
The pledge also includes a commitment to lead collaborations with global partners to increase recycling and reuse rates, which aligns with the investment in Plastic Energy.
Two recently developed technologies are said to make high-quality PET recycling more economical.
Many food and beverage companies are either using or thinking about using recycled materials in their packaging.
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