Sk geo centric, a Korean chemical enterprise, will open a recycled polypropylene plant in Ulsan, Korea, with purecycle technologies, an American recycling technology company. It will be the first recycled polypropylene plant in Asia with an estimated annual capacity of 60000 tons and will be completed by the end of 2024.
The parties have now signed a non binding agreement ("HOA" or "term sheet"). The cooperation began in August 2021, when both parties signed a memorandum of understanding (MOU)
It is reported that purecycle is the only proprietary technology company in the world to separate pollutants, odor and color from polypropylene waste and convert them into ultra pure recycled (UPR) plastics. The technology can be used in commercial production, and can recycle and recycle the difficult to recycle plastics such as contaminated food storage containers, colored detergent bottles and automotive interior plastics, so as to avoid them being directly buried or burned.
Polypropylene is a kind of resin widely used in consumer goods, food packaging, automobile interior decoration and other fields. Because polypropylene is usually combined with other materials or additives in the processing process, the traditional mechanical recycling has limitations in separating the consumed polypropylene plastic products, and it is difficult to produce recycled plastics. The cooperation between skgc and purecycle will help to improve the recycling of waste plastics in Korea and develop diversified consumer goods that can be made of recycled plastics.
Contact Person: Mr. Fan