Plastics are notoriously hard to recycle and represent a significant challenge to our environment. Plastic Energy, a London-based SK investment, has developed a unique recycling process that turns used, end-of-life plastic into new, virgin plastic.
Today just 9% of plastic waste is recycled. Most ends up in landfills or oceans where an estimated 30 million tons of plastic waste have accumulated. Plastic Energy’s unique recycling process could help cut down that waste. Its ability to turn waste into high-value materials underpins the type of sustainable, circular economy that’s a win for our environment.
“What is unique for Plastic Energy is that we have tremendous experience recycling plastics and turning them into new, ready-to-use products,” explains Bruno Guillon, the company’s Chief Commercial Officer. “We have been processing plastic for 15 years and have two plants running day and night,” he points out.
Plastic Energy is looking to expand its recycling footprint. The company and SK Geo Centric aim to build a plastic recycling plant in Ulsan, South Korea that, once operational, could recycle up to 66,000 tons of end-of-life plastics.