Sealed Air invests in advanced recycling company Plastic Energy

Collaboration will spearhead technology advancements to enhance circularity of plastics.

Packaging company Sealed Air has signed a collaboration agreement with Plastic Energy, a company in advanced recycling technology. Additionally, the former 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 decade.

Ted Doheny, president and CEO of Sealed Air, said that the collaboration with Plastic Energy will enable Sealed Air to innovate faster and accelerate the development of new technology that eliminates waste and ensures a circular economy for plastic. He added that this will further support the company’s 2025 sustainability pledge, and lead the way in transforming the industry.

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, Sealed Air will be able to contribute to the elimination of plastic waste, support complementary approaches to recycling, and enable its customers to incorporate recycled plastics back into their packaging.

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