New Tech Breakthrough Aims To Solve The World's Plastic Waste Problem
Oil Deal Pushes China and Russia Out of Venezuelan Fields Surging data-center demand, electrification, transmission… Tom majored in International Business at Amsterdam’s Higher School of Economics and later completed an Executive MBA in Energy Transition at the University of Groningen.… Plastics remanufacturing is the industry everyone wishes they’d gotten into earlier, with McKinsey seeing as much as$75 billionin economic opportunity by 2035 for technologies capable of putting the world’s plastic waste back to work.
AndDenoviahas just taken its biggest step toward capturing a piece of that market, signing a strategic framework with a major international polyester producer that could eventually take its technology into billions of pounds of annual processing capacity.
The agreementstarts with a planned commercial facility capable of processing tens of millions of pounds of material every year.
Following technical and commercial validation, that will expand into multiple facilities handling billions of pounds of waste annually.
At the one billion pound mark alone,Denoviawould be handling roughly 454,000 tonnes of plastic, enough to fill around 18,000 semi trucks.
Lined up bumper to bumper, that convoy would stretch nearly 240 miles, almost the entire length of the Grand Canyon.
That is a significant jump in scale forDenovia, which has developed a molecular recycling technology capable of breaking difficult polyester waste back down into the chemical building blocks needed to manufacture new material.
The real prize is in the waste conventional recycling finds difficult to handle.
The partnership is targeting post industrial polyester, discarded textiles, contaminated and mixed polyester streams, automotive materials and other difficult PET based waste.
More than 400 million tonnes of plastic are produced globally every year, while only a fraction makes its way back into usable material.
And getting rid of the rest comes with an enormous price tag.
The global cost of collecting and disposing of plastic is projected to reach$140 billion a year by 2040, while discarded textiles alone have been estimated to cost the U.S.
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