Sealed Air invests in Plastic Energy, the advanced recycling solutions company

19 August 2020

Sealed Air Corporation announces it has signed a collaboration agreement with Plastic Energy, a leader in advanced recycling technologies. In addition, Sealed Air has just made an equity investment in Plastic Energy Global, the parent company of Plastic Energy.

Plastic Energy Global was created in 2012 with the goal of creating a circular economy for plastics by redirecting plastic waste to prevent it from reaching landfills and oceans. Based in London, the company has two operational sites in Spain and project development activities in Western Europe and Asia, with a target of 50 new installations over the next ten years.

"We have decided to join forces with Plastic Energy to innovate and accelerate the development of new technologies that eliminate waste and ensure a circular economy for plastics," said Ted Doheny, CEO of Sealed Air. "This collaboration will help us deliver on our promise of sustainability by 2025 and pave the way for industry transformation."

"We are delighted to start this new strategic collaboration with Sealed Air, which will lead to the acceleration of the development of the advanced recycling industry and provide a circular solution for more and more plastics," said Carlos Monreal, Founder and CEO of Plastic Energy.

The challenge: fight waste

Waste is a worldwide problem. The majority of plastic waste ends up in a landfill, is incinerated or dumped into the environment because it is never collected or considered unsuitable for recycling. From a societal perspective, it is crucial to expand the range of options available for recycling plastics.

The opportunity

Plastic Energy has a technological platform for the diversion of plastic waste out of landfills, with the objective of treating 300,000 tonnes of plastics by 2025. Plastic Energy transforms post-market plastic waste into recycled oil that can be used for creating basic packaging solutions, including protective packaging for food, thus enabling plastic to become a new resource. Through this collaboration with Plastic Energy, Sealed Air contributes to the elimination of plastic waste, promotes complementary recycling approaches and offers its customers the possibility of incorporating recycled plastics into their packaging.

A daring commitment for an ambitious collaboration

Sealed Air is committed to playing a key role in the transition to a circular economy for plastics through collaborations, research, development and deployment of new technologies.

In 2018, Sealed Air announced a bold commitment to sustainability and plastics stewardship, promising to design and develop advanced packaging solutions that are 100 percent recyclable or reusable by 2025. As part of this Promise, the company has an ambitious goal of an average of 50 percent recycled content across all of its packaging solutions, of which 60 percent comes from post-market recycled content.

This pledge also includes a commitment to lead collaborations with global partners to increase recycling and reuse rates, in line with its investment in Plastic Energy. In 2019, Sealed Air also announced that it has joined the Alliance to End Plastic Waste, an international non-profit organization committed to investing in solutions to help eliminate plastic waste in the environment.

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Contacts
Sealed Air
Investor Relations
Lori Chaitman
[email protected]
516.458.4455

Media
Christina Griffin
[email protected]
704-430-5742

Plastic Energy
Media
Susan Fitzsimons
[email protected]

 

Source: businesswire.com