PureCycle Technologies, Inc. announced a signed memorandum of understanding (MOU) with SK Global Chemical, a technology-driven global chemical company headquartered in 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.
About PureCycle Technologies
PureCycle Technologies LLC, a subsidiary of PureCycle Technologies, Inc., holds a global license to commercialize the only patented solvent-based purification recycling technology, developed by The Procter & Gamble Company, for restoring waste polypropylene (PP) into ultra-pure resin. The proprietary process removes color, odor and other contaminants from recycled feedstock resulting in ultra-pure polypropylene suitable for any PP market. To learn more, visit purecycle.com.
About SK Global Chemical
In 1972, SK global chemical laid the foundation for the development of the petrochemical industry by operating the first naphtha-cracking facility in Korea. They provide various automotive & packaging products and solutions required by customers and markets, and are growing into a technology-based global chemical company through continuous R&D efforts and global expansion. SK global chemical will achieve its vision, ‘Green for Better Life,’ by establishing a plastics-based circular economy, collaborating with various partners and stakeholders. They will expand their portfolio of eco-friendly products and will continuously recycle beyond the amount of plastics that they produce, in order to realize and leverage the sustainability efforts that will benefit our planet. Learn more about SKGC, visit skglobalchemical.co.kr.