Indorama Ventures (IVL), the world’s largest producer of recycled PET for beverage bottles, has taken an 85% equity stake in Czech recycler UCY Polymers.
As a result of the investment, IVL will recycle about 1.12 billion additional post-consumer PET plastic bottles in the Czech Republic every year by 2025, increasing the total bottles recycled by UCY across the Czech Republic, Germany and Central Europe to 1.6 billion bottles per year. UCY currently produces 40 000 tonnes of recycled PET flake per year.
UCY will work with IVL’s existing PET flake production facilities in the EU. These provide the washed and shredded post-consumer bottles as PET flake feedstock to produce recycled resin that is suitable for food contact use.
IVL ceo D K Agarwal says the company’s know-how will be used to grow capacity and recycle more bottles. ‘We are building the recycling infrastructure needed to divert PET waste from the environment. By recycling post-consumer PET bottles into new bottles, we give waste an economic value.’
Maximilian Josef Söllner, ceo UCY, says, ‘Expanding our capacity by 2025 means an extra 896 million more bottles will be recycled in our facilities compared with today.’ He points out that the investment is part of IVL’s wider global strategy to spend US$ 1.5 billion (EUR 1.32 billion) expanding recycling facilities and sustainable production, boosting its recycling capacity to 750 000 tonnes per year by 2025.