NORTHAMPTON, MA / ACCESSWIRE / January 18, 2023 / Sealed Air (SEE) is driving the industry in creating circular value chains that prevent waste, enable recovery of materials, and reduce dependence on natural resources. Accomplishing this type of circularity requires investments and collaborations that present opportunities to accelerate speed to market of scalable solutions, while leveraging innovation to create a sustainable competitive advantage.
Investments to Accelerate Circular Solutions
Closed Loop Partners
SEE invested $5 million in the Closed Loop Partners' Circular Plastics Fund to advance the recovery and recycling of plastics in the U.S. and Canada. The investment brings the fund closer to its goal of deploying $100 million to advance scalable recycling technologies, equipment upgrades and infrastructure solutions. "SEE's investment in the Closed Loop Circular Plastics Fund demonstrates their commitment to be a part of the solution to plastic waste, marking a critical step in building a waste-free future for the plastics and packaging industry. Their scale and deep expertise in the space allow us to extend our reach even further and encourage other companies to invest more capital to scale critical sustainable solutions," said Ron Gonen, founder and CEO of Closed Loop Partners
In 2022, a consortium of investors managed by Closed Loop Partners acquired a majority stake in Sims Municipal Recycling (SMR). The acquisition is designed to modernize circular economy infrastructure and service for SMR's operations in the New York-New Jersey metro region and Florida. This was the first investment made through the Circular Plastics Fund.
Plastic Energy
SEE made an equity investment in 2020 in Plastic Energy, an industry-leading company in advanced recycling technology, to drive materials circularity and expand the recyclability of packaging. The research collaboration is ongoing and has already resulted in a successful closed-loop demonstration which took flexible plastics collected from store drop-off locations and recycled them into new food packaging.
Developing Circular Systems for Plastics
ExxonMobil and Ahold Delhaize USA
A collaboration between SEE, ExxonMobil, and grocery retail group Ahold Delhaize USA is opening new recycling possibilities and paving the way for the packaging industry to protect perishable foods while creating a low-carbon, circular economy. These leading companies are working across the value chain to create new food-grade packaging by collecting and recycling used flexible plastics. This advanced recycling initiative demonstrates how high-performance packaging materials can be designed to be remade. The project has produced certified circular resins which resulted in new packaging for fresh poultry.
"We're proud to work with SEE and ExxonMobil on this collaboration, which has the potential to radically change the way retailers and manufacturers leverage food-grade recycled plastics as a key means of keeping plastics out of landfills," said Brittni Furrow, vice president health and sustainability for Ahold Delhaize USA. "We're eager to learn from this work and apply the learnings to advance our own plastics ambitions, but also advance these efforts broadly, helping to ensure a better tomorrow for our planet."
Cyclyx
SEE is partnering with Cyclyx, a post-use plastic feedstock manager, as a member of its consortium. SEE will work with Cyclyx to leverage their custom takeback programs to increase material recovery, allowing for higher amounts of recycled content to be used in future packaging solutions. Ron Cotterman, SEE's vice president of sustainability innovation and strategy, is sharing his industry knowledge and expertise as a member of Cyclyx's executive advisory board.
"SEE's commitment to advancing a circular economy for plastic and dedication to helping its customers to lower their carbon footprints are in line with the mission of everything that Cyclyx is trying to do," said Joe Vaillancourt, CEO of Cyclyx.
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Plastic Energy
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SOURCE: Sealed Air
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