Today Alterra announces its license arrangement with a subsidiary of Freepoint Eco-Systems Holdings LLC for a proposed 192,000 tonnes per annum advanced plastics recycling facility to be sited in the Gulf Coast region. This facility will be one of the largest advanced recycling plants in the world with the potential to increase the capacity to 288,000 tonnes per annum.

Currently, Alterra operates an industrial-scale, fully continuous 20,000 tonnes per annum recycling facility in Akron, Ohio and licenses its proprietary technology to convert end-of-life plastic into feedstock for new plastic products worldwide. This Freepoint project will be Alterra's first licensing transaction in North America.

"We are excited that an established global commodities merchant with a focus on owning and operating advanced recycling assets to minimize the reliance on fossil fuels for plastic production has chosen the Alterra technology," said Alterra CEO Frederic Schmuck. "Freepoint shares our vision of a cleaner planet. They are a formidable partner as we build a solution to meet our industry's circularity goals and enable a world where plastic is never discarded but instead remade over and over."

"Freepoint selected the Alterra recycling process for our potential Gulf Coast facility because it has successfully operated at commercial scale in the recycling of hard-to-recycle waste plastics. This project will increase the recycled content of the new plastic produced, significantly reduce carbon emissions, divert almost 200,000 tons per year of waste from landfills, as well as assist in the creation of a more sustainable economy and a healthier planet," said Jeff McMahon, Managing Director of Freepoint.

The facility will recycle end-of-life plastic otherwise destined for landfills or incineration. The recycling facility's output will be ISCC Plus certified and sold exclusively to Shell under a supply agreement.

"Shell is delighted to be strengthening its existing relationships with Alterra and Freepoint. With the potential to recycle more than 190,000 tonnes of post-use plastic per year, this facility will support Shell in delivering more of the circular chemicals our customers want," said Phil Turley, GM, Plastic Circularity Shell.

To learn more about Alterra and its advanced recycling technology, visit alterraenergy.com.

 

Source:prnewswire.com

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