Eastman to invest $1 billion to build chemical recycling facility for hard-to-recycle PET waste in France

U.
S.
chemical giant Eastman said on Monday it would invest up to $1 billion to build a chemical recycling facility in France based on methanol decomposition to process more difficult-to-recycle polyethylene terephthalate (PET) waste
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The facility will use Eastman's polyester recycling technology for chemical recycling, and its methanol depolymerization unit is expected to process up to 160,000 tons of difficult-to-recycle PET waste per year
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Eastman did not disclose the total capacity of the facility
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Eastman's polyester recycling technology breaks down PET waste such as soft drink bottles, carpets and polyester clothing into their constituent parts through glycolysis or methanolysis
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In addition to the depolymerization unit, the project includes multiple pretreatment units for mixed plastic waste, as well as multiple polymer production lines that provide high-quality raw materials for specialty materials, packaging and textile applications
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The project will be constructed in multiple phases
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Eastman also plans to create a molecular recycling innovation center to help France lead the way in the development of a circular economy
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The entire project and innovation center is expected to be operational by 2025
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Eastman Chief Executive Mark Costa (Mark Costa) said that in the next few months, will reach an agreement on the supply of plastic waste raw materials, government incentives and site selection
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Eastman's projects are also supported by major global brands
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LVMH Beauty, Estee Lauder, Clarins, Procter & Gamble, L'Oréal and Danone are in the process of signing letters of intent for multi-year supply agreements for the facility
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ICIS has launched a new mixed plastic waste pricing service, including European prices for mixed polyolefin waste packages, waste Refuse Derived Fuel (RDF) packages and Waste Material Recovery Facility (MRF) packages
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