Page 43 - Plastics News July 2024
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COMPANY NEWS




          Biotrend and Freepoint Eco-Systems to


          develop plastic recycling projects


































                                                               The strategic partnership will also develop projects
            The projects will transform waste plastic          in  Turkey,  the  Balkans  and  Central  Asia,  targeting
            through chemical recycling into pyrolysis oil,     a total production capacity capable of recycling
            a product  used  in the  production  of petro-     250,000 tons of waste plastic annually.
            chemical products.                                 After satisfactory completion of due diligence, Free-
                                                               point Eco-Systems would purchase approximately
                                                               10% of Biotrend’s shares through a private place-
                S-based plastic waste solutions provider       ment involving an investment by Freepoint in newly
                Freepoint Eco-Systems is to partner with       issued shares.
          UTurkish  waste  management  company  Bi-            Proceeds from Biotrend’s capital increase would
          otrend to develop advanced recycling projects that   then be used to develop and fund advanced recy-
          will divert end-of-life waste plastic from landfills and   cling facilities including the Aliağa facility.
          incineration.
                                                               Biotrend CEO Özgür Umut Eroğlu commented: “This
          The projects will transform waste plastic through    strategic partnership strengthens Biotrend’s leader-
          chemical recycling into pyrolysis oil, a product used   ship in plastic recycling and fosters a more sustain-
          in the production of petrochemical products includ-  able future.”
          ing resins used to make new plastic.                 Freepoint  Eco-Systems  president  Oscar  Gutierrez

          Biotrend is developing an advanced plastic recycling   added:  “The  expansion  of  our  advanced  recycling
          facility in Aliağa, İzmir, Türkiye with a processing ca-  footprint into Turkey, the Balkans and Central Asia
          pacity of 60,000 tons per year.                      represents an important step forward in our ongo-
          Freepoint Eco-Systems will contribute its focus on   ing effort to help solve the plastic waste problem on
          building, owning and operating large-scale ad-       a global basis.”
          vanced recycling facilities that convert waste plastic                       Source – Packaging Gateway
          into pyrolysis oil.

              July 2024                                                                      PLASTICS NEWS  45
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