Loop Industries and SUEZ reveal plans to build giant plastic recycling facility, as pressure grows for sector to boost capacity across Europe
A giant recycling plant capable of producing infinitely-recyclable, virgin-quality plastic is being planned to cater for soaring European demand for recycled materials, it has been announced.
The plant, which would be the largest in the world to date, would be dedicated to Polyethylene Terephthalate (PET) plastic and would boast the potential to produce the equivalent of approximately 4.2 billion food grade beverage bottles made of 100 per cent recycled and infinitely recyclable PET plastic annually.
The project is being led by Loop Industries, in partnership with resource management consultants SUEZ, and will be the first of a new generation of 'Infinite Loop' recycling facilities. A final site will be agreed in mid-2021 with commissioning of the facility slated for 2023.
When fully operational, Infinite Loop systems aims to save 180,000 tons of CO2 annually, compared with traditional virgin PET production methods.
"Europe is leading the charge against petroleum-based plastics: through tougher regulations and taxes, they are setting a global example on transitioning to a more circular economy," said Loop founder and chief executive Daniel Solomita. "The Infinite Loop technology creates the infrastructure countries need to be able to eliminate plastic waste and increase recycling rates.
"Loop's expansion is tailored to our customers' needs allowing them to meet and exceed their ambitious targets for recycled content in their packaging, but also to have the ability to recycle their packaging infinitely, without having to compromise quality."
SUEZ has more than a decade of experience in the recycling industry and said it is "highly convinced" by Infinite Loop's dual use of mechanical and chemical recycling systems.
"We are thrilled to be part of this innovative project with Loop Industries as it will expand our offer and our solutions improving the economic and environmental performance of our industrial customers, but also contributing to a sustainable resource management" said Jean-Marc Boursier, chief operating officer of SUEZ Group.
Europe consumes approximately 5.5 million tons of PET plastic every year, of which less than less than seven per cent is currently recycled. PET plastic is used in the production of plastic bottles, packaging, carpets and textiles.
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