PureCycle Technologies, Inc. (Orlando, Fla.) signed a memorandum of understanding (MOU) with SK Global Chemical Ltd. (Seoul, South Korea) as a first step to enable the building and operating of a recycling facility in South Korea to transform polypropylene (PP) waste into ultra-pure polypropylene resin (UPRP). The signed MOU will allow for PureCycle and SK Global Chemical to work toward solving the ongoing plastic waste crisis in South Korea and around the globe.
Mike Otworth, CEO, PureCycle, said, “Partnering with the leading recycling waste company in South Korea is a major milestone for PureCycle. We are bringing together a premier team of experts to achieve our goal of recycling one billion pounds of polypropylene waste by 2025. The sad reality is that ninety-one percent of plastic waste is not recycled. That is exactly why our work with SK Global Chemical will be incredibly important to reducing plastic waste and helping society view plastic as an infinitely sustainable material.”
Na Kyung-soo, CEO, SK Global Chemical said, “The partnership with PureCycle shows our deep commitment to creating a circular economy for plastics and shows that we can collaborate globally to solve the plastic-waste problem. At SK Global Chemical, we are focused on leading circular systems for plastics with top-notch technology, and that is why PureCycle is the perfect partner for us to continue this focus and amplify our goals.”
The MOU with SK Global Chemical is designed to lead to the development of solvent-based recycling operations in Asia Pacific and add to the facility locations already growing across the United States. PureCycle uses proprietary technology to recycle waste polypropylene into UPRP for applications spanning consumer goods, automotive, building and construction, and industrial uses. The company can process a wide range of waste polypropylene with varying levels of contamination and effectively remove containments to create an ultra-pure polypropylene resin.
Construction on the flagship Ironton, Ohio recycling facility is well underway and expected to begin commercial production in the fourth quarter of 2022 and the company announced in July the location for the first cluster facility in Augusta, Georgia. PureCycle has already presold more than 20 years of UPRP output from the Ohio plant.