PureCycle Collaborates with SKGC to Build Asia's First Recycled PP Plant
The key terms to be included in the joint venture agreement were agreed by the companies during the recently held CES 2022 in Las Vegas.
SEATTLE (Scrap Monster): PureCycle Technologies, in partnership with SK Geo Centric (SKGC) announced plans to build a new plastic recycling plant. The plant, considered to be Asia’s first recycled propylene (PP) plant, would be built in Ulsan, South Korea. The construction of the plant is expected to be completed by end-2024 and will have a capacity of 60,000 tons per annum.
The partnership initiated during the visit of Na Kyung-soo, President and CEO of SKGC to PureCycle’s Feedstock Evaluation Unit, an R&D facility and demonstration plant in Ohio, in November last year. The collaboration plans were discussed during the meeting. The key terms to be included in the joint venture agreement were agreed by the companies during the recently held CES 2022 in Las Vegas.
Mike Otworth, CEO, PureCycle said that he is thrilled that the companies are progressing towards opening the facility in Ulsan over the next three years. The combination of PureCycle’s patented plastic waste transformation technology to produce ultra-pure recycled (UPR) plastic and SKGC’s expertise and knowledge of the South Korean industry will help tackle the plastic waste crisis, he added.
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