Plastic Energy receives investment from Sealed Air

Sealed Air Corporation (NYSE: SEE) has signed a collaboration agreement with Plastic Energy, an industry-leading company in advanced recycling technology.

Additionally, Sealed Air has made an equity investment in Plastic Energy Global, the parent company of Plastic Energy.

Plastic Energy Global was established in 2012 with the goal of creating a circular economy for plastics by diverting plastic waste away from landfills and oceans.

Headquartered in London, the company has two operations in Spain and projects developing in Western Europe and Asia, with a vision for 50 new facilities over the next 10 years.

Plastic Energy has a technology platform that enables the diversion of waste plastic away from landfills, with the goal of processing 300,000 tonnes of plastic by 2025.

The company transforms post-consumer plastic waste into new recycled oil that can be used to create essential packaging solutions, including protective packaging for food, thereby enabling plastic to become a new resource. Through this collaboration with Plastic Energy, Sealed Air is helping to eliminate plastic waste, support complementary approaches to recycling and enable its customers to incorporate recycled plastics back into their packaging.

Sealed Air is determined to play a key role in the drive towards a circular economy for plastics through collaboration, research, development and implementation of new technologies.

"We’re excited to join forces with Plastic Energy to innovate faster and accelerate the development of new technology that eliminates waste and ensures a circular economy for plastics,” said Ted Doheny, Sealed Air President & CEO.

 “This collaboration will help us meet our 2025 sustainability pledge and lead the way in transforming our industry.”

Carlos Monreal, Founder and CEO of Plastic Energy, added: “We are delighted to start this new strategic collaboration with Sealed Air, which will lead to the acceleration of development of the advanced recycling industry as well as provide a circular solution for more and more plastics.”