Plastics Pledge Statement Indorama Ventures Europe
Indorama Ventures European Affiliates
IVL has pledged a minimum of 200kt per annum of PCR materials to be processed to generate RPET pellets and /or produce virgin PET with PCR material as a % of the feedstock by 2025. This target is expected to be exceeded given prevailing market conditions.
IVL will use conventional mechanical recycling processes to produce washed clean flake, which can be sold directly to the market as an alternative to virgin resin. Much of this flake will also be used to manufacture 100% RPET pellets, or used in “Melt to Resin” technology to infuse the flake into the virgin production line.
In addition to this IVL is investing in new technology to create petrochemical feedstock from PCR materials, enabling the handling of all PET waste product as a raw material and creating a valid “circular process model” for PET manufacturing. In this way IVL will build supply chains that facilitate the use of varying degrees of quality of waste PET that is collected and sorted by Waste Management and Deposit Processes. The goal being to displace virgin feedstock in packaging, fibre, bottles etc. with PCR content. This will showcase the business model to eliminate PET litter to the environment by creating the value of the waste as feedstock.
- Plastic waste processed or recycled by 2025Minimum of 200,000 tonnes of post-consumer PET as feedstock for RPET/Virgin PET and partially displace feedstock from fossil.
- Recycled plastics supplied to the EU market by 2025200~250,000 tonnes of post-consumer PET in several formats, such as but not limited to PET for Beverage Bottles, Polyester Fibre.
- Recycled plastics used in own products and components by 2025The above mentioned data of 200~250,000 tonnes of post-consumer PET material being processed by IVL will be for internal use.