Dutch PET recycling start-up Ioniqa Technologies has filed for bankruptcy protection after determining that "achieving a positive cash flow from its advanced polyester recycling technology will take too long”. The chemical recycling sector "is challenged by the low cost of virgin plastics derived from fossil oil and a plastic recycling supply chain still in development”, Ioniqa said. Moreover, the implementation of regulated mandatory standards for meaningful recycling levels are "too far out into the future”, the company added....
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