PureCycle Technologies, Inc., a US-based plastic recycling company, has signed a memorandum of understanding (MOU) with SK Global Chemical, a South Korean chemical company, as a first step to building a recycling facility in South Korea to transform polypropylene (PP) waste into ultra-pure polypropylene resin (UPRP).
PureCycle and SK Global Chemical will collaborate to address the ongoing plastic waste issue in South Korea and throughout the world as a result of the inked MOU.
Mike Otworth, CEO of PureCycle, said that partnering with South Korea's largest recycling waste firm is a huge milestone for PureCycle. They're assembling an elite group of specialists to help them reach their objective of recycling one billion pounds of polypropylene waste by 2025. Ninety-one percent of plastic garbage is not recycled, which is a sad reality. That is why their collaboration with SK Global Chemical will be critical in decreasing plastic waste and promoting the concept of plastic as an eternally sustainable resource in society.
Na Kyung-soo, CEO of SK Global Chemical, said that the cooperation with PureCycle reflects their serious commitment to building a circular economy for plastics and proves that they can work internationally to tackle the plastic waste problem. They’re focused on leading circular systems for plastics with top-notch technology at SK Global Chemical, which is why PureCycle is the ideal partner for them to sustain this emphasis and achieve their objectives.
The MOU with SK Global Chemical is intended to pave the way for the expansion of solvent-based recycling operations in the Asia Pacific, in addition to the rising number of facility locations in the United States.
PureCycle recycles waste polypropylene into UPRP using patented technology for consumer goods, automotive, building & construction, and industrial applications. The firm can process a variety of waste polypropylene with various levels of contamination and remove containments to produce ultra-pure polypropylene resin.
Construction on the firm's flagship recycling plant in Ironton, Ohio is well underway, with commercial production anticipated to commence in the fourth quarter of 2022, while the company revealed the site of the first cluster facility in Augusta, Georgia in July. More than 20 years of UPRP output from the Ohio factory has already been pre-sold by PureCycle.
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