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That Eastman Chemical Co. will make investments $250 million to construct one of many world’s largest plastic recycling amenities in Kingsport is thrilling past its financial impression. Eastman’s cutting-edge chemical recycling course of holds the promise of protecting untold tons of dangerous plastic waste out of the atmosphere.
About 79% of waste plastic at present goes to landfills, or worse, into the oceans. Of the remaining 21%, solely 12% of waste plastics will be reused, repurposed or mechanically recycled, whereas the remainder is commonly burned, in response to trade sources.
Plastic is accumulating on this planet’s oceans at a staggering price. An estimated 8 million tons are intentionally dumped or swept into our seas and oceans each single yr. Most of it’s not biodegradable and might grasp round within the atmosphere for a whole bunch of years. Every year, some 400 million tons of plastic is produced, and practically half is single-use plastic.
Eastman will assist change that by way of a course of often known as methanolysis, changing polyester waste that always results in landfills and waterways into sturdy merchandise, initially utilizing greater than 100,000 metric tons of plastic waste that can’t be recycled by present mechanical strategies to supply premium, high-quality specialty plastics made with recycled content material.
In so doing, Eastman hopes to assist the atmosphere in different methods, not solely lowering the corporate’s use of fossil feedstocks but additionally its greenhouse gasoline emissions by 20-30%. The corporate expects its molecular recycling initiatives to contribute $600 million of recent enterprise income in coming years.
Eastman was amongst pioneers creating methanolysis know-how at business scale and has greater than three a long time of experience within the recycling course of.
“Whereas as we speak’s announcement is a vital step, it’s simply a part of the corporate’s total round financial system technique,” mentioned Board Chair and CEO Mark Costa. He mentioned Eastman is actively engaged on the following steps ahead with its round financial system initiatives, together with partnerships and direct investments in Europe.
The brand new facility will contribute to the corporate reaching its formidable sustainability commitments for addressing the plastic waste disaster, which incorporates recycling greater than 500 million kilos of plastic waste yearly by 2030 through molecular recycling applied sciences.
The corporate has dedicated to recycling greater than 250 million kilos of plastic waste yearly by 2025.
“With the rising demand for merchandise made with recycled content material and the pressing want to deal with the worldwide plastic waste disaster, now’s the time for Eastman to take this step,” mentioned Costa. With incentives, “we’re in a position to construct this facility in our residence state, which we imagine positions Tennessee to be a pacesetter in enabling the round financial system and an instance for others to observe. This can be an ideal funding for our local people and our prospects, whereas additionally creating small enterprise jobs to develop the recycling infrastructure obligatory.”
Eastman’s continued successes not solely strengthen the corporate’s place however advance the area’s financial standing. Northeast Tennessee residents are lucky that the corporate continues vital funding in its Kingsport amenities.
Congratulations, Eastman Chemical Co. You do the area and the state proud.
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