Global group seeks to support chemical recycling projects

The Alliance to End Plastic Waste is accepting applications for funding for chemical recycling projects until April 30.| Paul Prescott / Shutterstock

The Alliance to End Plastic Waste is accepting funding requests of up to $ 20 million from individual chemical recycling companies, according to a recent call for proposals.

The organization, which is funded by some of the world’s largest virgin plastic producers and brand owners, Feb. 10 ad it accepts applications for a round of funding dedicated to projects promoting chemical recycling, sometimes also referred to as “advanced plastics recycling”.

According to the Alliance, applicable projects include “all types of technologies that alter the molecular structure of waste plastics and convert them into their original building blocks, specialty polymers, raw materials for new plastics, fuels, waxes and more. valuable products. “

The call for tenders proposes depolymerization, pyrolysis and gasification as examples.

“Current recycling technologies do not allow sufficient value to drive investment in infrastructure for the collection and recycling of a significant proportion of used plastics,” the Alliance wrote in the call for proposals. “One of the ways to bridge this gap is advanced recycling, which refers to new emerging technologies that capture the value of post-consumer plastics: recycling used plastic into high-value products.”

The Alliance plans to provide between $ 1 million and $ 20 million per project, depending on the call for proposals. Assistance will be provided in the form of loans or grants.

“Projects with an immediate high impact or which take the first step towards a high impact will be favored”, states the request for proposals. The Alliance will also take into account the amount of plastic waste that the candidate project would prevent entering the environment, as well as the effectiveness of each project in the use of funding.

The call for proposals identifies several key challenges in the current chemical recycling market. Among them, there is a “lack of easy access to large quantities and a constant quality of plastic as a raw material due to the fragmentation of the infrastructure for collecting, sorting and recycling plastic”. Another is a ‘challenge to achieve a viable economy due to competition with the petrochemical sector advantage of technology maturity and economy of scale, and exposure to cyclical market prices. crude oil and derivatives, ”according to the Alliance.

The organization accepts applications until April 30.

According to the announcement, the Alliance will open additional funding rounds later this year covering mechanical recycling and material sorting technologies.

The Alliance launched in early 2019 with plans to commit more than $ 1 billion to reduce plastic waste over five years. In mid-2020, the Alliance was funding more than a dozen projects.

More Technology Stories

Bruno Folcieri
Polyvel Inc.

Source link

About William Moorhead

Check Also

Mobile payment options for your digital wallet

Credit and debit cards have started a revolution. You no longer have to carry a …

Leave a Reply

Your email address will not be published. Required fields are marked *