Early in June, French start-up Carbios and the Thai PET manufacturer Indorama Ventures Limited (IVL) have disclosed more information about their plans to build the first industrial-scale plant for the enzymatic recycling of PET in France. The companies announced the signing of a non-binding memorandum of understanding for the creation of a joint venture, which will entail an estimated investment of €230m in the plant in Longlaville. The facility is to process post-consumer PET waste, including material not suitable for mechanical recycling.
Carbios highlighted that project last week as it explained its strategy for becoming a leading player in the recycled PET sector, capturing a 4-8 per cent share of the global rPET market by 2030 and 8-12 per cent by 2035. At a "strategic update" event, the company recalled that in a "booming" global rPET market, non-conventional or "advanced" recycling was the fasted growing segment, with annual growth of 17 per cent projected....
