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As brand owners set plastic recycling targets and the government adopts a ban on disposable plastics, the demand for recycled plastics may increase dramatically compared to new "first" plastics. This could weaken the demand for virgin plastic pellets at a time when the petroleum and petrochemical industries are increasing their investment in facilities centered on the production of these virgin plastic pellets.
less
As brand owners set plastic recycling targets and the government adopts a ban on disposable plastics, the demand for recycled plastics may increase dramatically compared to new "first" plastics. It can erode demand
… more
Photos: Brenton Edward, Contributor / AFP / Getty Images
As brand owners set plastic recycling targets and the government adopts a ban on disposable plastics, the demand for recycled plastics may increase dramatically compared to new "first" plastics. This could weaken the demand for virgin plastic pellets at a time when the petroleum and petrochemical industries are increasing their investment in facilities centered on the production of these virgin plastic pellets.
less
As brand owners set plastic recycling targets and the government adopts a ban on disposable plastics, the demand for recycled plastics may increase dramatically compared to new "first" plastics. It can erode demand
… more
Photos: Brenton Edward, Contributor / AFP / Getty Images
Investment funds supported by the world's largest product manufacturers and retailers, including Washington-Amazon, Coca-Cola and Unilever, have acquired a stake in Austin-based recycling company Balcones Resources.
Closed Loop Partners buys Balcones, a recycling facility in Dallas, Austin and Ark, Little Rock, as part of a strategy to improve and expand the US recycling infrastructure to better manage vast quantities of plastic packaging in the modern economy on Thursday. Announced Thursday.
Ron Gonen, CEO of Closed Loop, said, “We are investing in the supply chain from a long-term perspective on a more profitable and sustainable future. "We will strengthen our recycling and circular economic infrastructure by expanding best-in-class businesses like Balcones."
The investment amount was not disclosed.
Started in 2014 in New York, Closed Loop has invested in municipal waste systems and recycling companies across the country to not only improve recycling rates, but also continue to supply recycled materials to product companies. Demand companies adhere to sustainable practices.
Kerry Getter, CEO of Balcones, said, “Together, we will be able to help improve employee opportunities, customer service, and achieve a range of ambitious environmental goals.