Chemical Polyethylene terephthalate (PET) recycling company revalyu Resources has announced the commissioning of its second PET recycling plant at its site in Nashik with a total investment of $100 million for the whole site, to further expand its production capacity and meet growing customer demand for recycled products.
With this second plant the company will now recycle over 20 million used PET bottles a day into 160 tonnes per day of PET chips and PET polymer.
This is being used by customers to meet their sustainability targets in applications from diverse sectors such as PET bottle, packaging materials, textiles, automobile accessories and a wide variety of other PET copolymer based products.
A third plant which is fully financed as part of the $100 million investment, and under construction will add another 120 tonnes per day of capacity in Q3 2025.
This will increase the site’s recycling capacity to approximately 35 million post-consumer plastic bottles a day and total production capacity to 280 tonnes per day.
The company utilises advanced patented glycolysis-based recycling technologies and automated processes, which make the manufacturing operations optimised, scalable, profitable and easily replicable, Vivek Tandon, Founder, revalyu Group said in an interview.
The recycled PET is produced using 75% less water and 91% less energy than conventional PET made from oil, he added.
“This is a revolutionary moment for the PET plastic recycling industry. Finally, the world has a commercially proven, scalable, profitable and environmentally sustainable recycling technology that can truly reverse engineer used PET plastic into virgin grade quality PET polymer.”
“We continue to seek global partners to join us in our global expansion as we continue to drive innovation to deliver the highest quality sustainable (r)polymer to customers and take care of our planet for our future generations,” he said.
He said in the next 20 to 30 years, 50 to 60% of plastic bottles and clothes can be made again and again and again from the same material and not using oil just like aluminium.
Makarand Kulkarni, CEO, revalyu India said, “This environmentally sustainable chemical recycling process is scalable and replicable and that gives our customers an edge in their respective markets, the technology is a game changer.”
The company will set up a 240 tonnes per day PET recycling facility in the US by 2027 and has plans to expand globally through technology licensing agreements to increase its production to over 1,000 tonnes per day by 2030.
Published – November 14, 2024 09:03 pm IST
