Sealed Air (SEE) announced a USD5 million investment in the Closed Loop Circular Plastics Fund.
SEE’s investment followed the previous USD25 million investments from Dow, LyondellBasell, and NOVA Chemicals and another USD5 million from SK Global Chemical.
The fund aims to advance the recovery and recycling of plastics in the US and Canada. It plans to recycle more than 500 million pounds of plastics over the Fund’s lifespan.
SEE’s investment brings the Fund closet to the target of allocating USD100 million to advance scalable recycling technologies, equipment upgrades, and infrastructure solutions.
Since its founding in 2014, Closed Loop Partners’ existing portfolio of more than 50 investments has diverted more than 4,600 million pounds of material from landfills and back into manufacturing supply chains.
