Sealed Air Corporation has announced it has signed a collaboration agreement with Plastic Energy, an industry-leading company in advanced recycling technology.
Sealed Air signs collaboration agreement with Plastic Energy
Sealed Air has also made an equity investment in Plastic Energy Global, the parent company of Plastic Energy, which 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.
Sealed Air President and CEO Ted Doheny said: "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. This collaboration will help us meet our 2025 sustainability pledge and lead the way in transforming our industry.”
Carlos Monreal, Founder and CEO of Plastic Energy, added: “We are delighted to start this new strategic collaboration with Sealed Air, which will lead to the acceleration of development of the advanced recycling industry as well as provide a circular solution for more and more plastics.”
Combatting waste
The majority of plastic waste ends up either in a landfill, incinerated or disposed of in the environment. From a societal perspective, it is critical that we expand the options available for recycling plastics. 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, transforms post-consumer plastic waste into new recycled oil that can be used to create essential packaging solutions.
In 2018, Sealed Air announced a bold sustainability and plastics commitment. The company has an ambitious target of 50 per cent average recycled content across all packaging solutions with 60 per cent 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. In 2019, Sealed Air also announced it had joined the Alliance to End Plastic Waste.
