Sealed Air Invests in Advanced Recycling Company Plastic Energy

Sealed Air Corporation (NYSE: SEE) has announced it has signed a collaboration agreement with Plastic Energy, an industry-leading company in advanced recycling technology. Additionally, Sealed Air has made an equity investment in Plastic Energy Global, the parent company of Plastic Energy.

Plastic Energy Global was established in 2012 with the goal of creating a circular economy for plastics by diverting plastic waste away from landfills and oceans. Headquartered in London, the company has two operations in Spain and projects developing in Western Europe and Asia, with a vision for 50 new facilities over the next 10 years.

“We’re excited to join forces with Plastic Energy to innovate faster and accelerate the development of new technology that eliminates waste and ensures a circular economy for plastics,” said Ted Doheny, Sealed Air President & CEO. “This collaboration will help us meet our 2025 sustainability pledge and lead the way in transforming our industry.”

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

The Challenge: Combating Waste
Waste is a global issue. The majority of plastic waste ends up either in a landfill, incinerated or disposed of in the environment because it is either never recovered or considered unable to be recycled. From a societal perspective, it is critical that we expand the options available for recycling plastics.

The Opportunity
Plastic Energy has a technology platform that enables the diversion of waste plastic away from landfills, with the goal of processing 300,000 tonnes of plastic by 2025. Plastic Energy transforms post-consumer plastic waste into new recycled oil that can be used to create essential packaging solutions, including protective packaging for food, thereby enabling plastic to become a new resource. Through this collaboration with Plastic Energy, Sealed Air is helping to eliminate plastic waste, support complementary approaches to recycling and enable its customers to incorporate recycled plastics back into their packaging.

Bold Commitment and Collaboration
Sealed Air is determined to play a key role in the drive towards a circular economy for plastics through collaboration, research, development and implementation of new technologies.

In 2018, Sealed Air announced a bold sustainability and plastics commitment, pledging to design and advance packaging solutions that are 100 percent recyclable or reusable by 2025. As part of the pledge, the company has an ambitious target of 50 percent average recycled content across all packaging solutions with 60 percent of that coming from post-consumer recycled content.

The pledge also includes a commitment to lead collaborations with global partners to increase recycling and reuse rates, which aligns with the investment in Plastic Energy. In 2019, Sealed Air also announced it had joined the Alliance to End Plastic Waste, a global nonprofit committed to investing in solutions to help eliminate plastic waste in the environment.
https://ir.sealedair.com/news-releases/news-release-details/sealed-air-invests-advanced-recycling-company-plastic-energy

Related Posts

American Forest & Paper Association Releases May 2018 U.S. Packaging Papers & Specialty Packaging Monthly Report

Total Packaging Papers shipments were up 3.0 percent compared to May 2017 but down 0.2 percent year-to-date. Bag & Sack shipments were essentially flat year-to-date, Multiwall shipments were down 3.3 percent, Converting shipments were down 0.4 percent and Food Wrapping shipments were up 3.5 percent. The operating rate for May increased to 94.5 percent from 92.9 percent in April. Inventories were down 3.6 percent since April.

Crown Receives Aluminium Stewardship Initiative (ASI) Certification for Its Mexican Beverage Can Operations

Continuing its progress around its sustainable sourcing goals, Crown Holdings, Inc. has received certification from the Aluminium Stewardship Initiative (ASI) for its Mexican beverage can operations. Through the ASI Performance Standard, which assesses and confirms the ethicality of metal packaging production activities, Crown Mexico is verified for responsible production, sourcing and stewardship of aluminum. The achievement underscores Crown's ongoing commitment to operate as a responsible organization across its global footprint and deliver against the goals of its ambitious Twentyby30 sustainability program. As a not-for-profit standards setting and certification organization, ASI works to define environmental, social and governance principles and criteria, with the aim to address sustainability issues in the aluminum value chain. In addition to creating a benchmark for the industry, the organization's efforts around the ASI Performance Standard include: establishing requirements that can be independently audited to provide objective evidence for the granting of ASI Certification; reinforcing and promoting consumer and stakeholder confidence in aluminum; and serving as a broader reference for the establishment and improvement of responsible production, sourcing and material stewardship initiatives in metals supply chains. Utilizing these measures, ASI's ultimate mission is to recognize and collaboratively foster responsible production, sourcing and stewardship of aluminum.

Clearwater Paper Reports Second Quarter 2017 Results

The company reported net sales of $429.7 million for the second quarter of 2017, down 1.6% compared to net sales of $436.7 million for the second quarter of 2016. Net earnings determined in accordance with generally accepted accounting principles, or GAAP, for the second quarter of 2017 were $8.0 million, or $0.48 per diluted share, compared to net earnings of $20.9 million, or $1.21 per diluted share, for the second quarter of 2016.
Back To Top
×Close search
Search