Thailand-based Indorama Ventures is committed to eliminating plastic pollution globally, according to the company’s statement. The company said it was stepping up efforts to increase recycled content volumes by at least 750,000 tons by 2025 through a US$ 1.5 billion investment.
Indorama Ventures cooperates with Loop Industries through a joint venture which aims at commercializing chemical recycling technology for polyester fibers and PET packaging resin. In June last year, the company also launched cooperation with Ioniqa Technologies and Unilever Europe on technology to convert PET waste into renewed feedstock for virgin PET. Earlier this year, Indorama Ventures began production and marketing of 100% rPET pellets in Europe. The company produces the recycled pellets from post-consumer PET bottles.
Indorama Ventures aims to displace fossil materials and use chemically recycled PCR PET feedstock to produce rPET resin this year. It expects to produce the recycled resin at a full scale of 10,000 tons/year by this year’s fourth quarter. Besides, the company’s operation in the US which focuses on sustainable solution, is able to manufacture 10,000 tons/year of rPET chips and 30,000 tons/year of rPET flakes.
