South Korean chemical company SK Geo Centric has signed a memorandum of understanding (MoU) to supply its advanced recycled material to global packaging company Amcor.
As part of this partnership, SK Geo will supply recycled polyethylene and polypropylene plastic materials from its to-be integrated waste plastic recycling complex, the Ulsan Advanced Recycling Cluster (ARC).
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SK Geo is currently in the process of establishing its Ulsan ARC site, where it will produce and sell recycled materials made by reusing pyrolysis oil derived from end-of-life waste plastic.
The start of supply of this recycled material from SK Geo to Amcor is expected to begin in 2025.
SK Geo CEO Na Kyung-soo said: “We are committed to contributing to a circular economy by expanding the supply chain where pyrolysis oil, produced from end-of-life plastic, can provide recycled content in consumer packaging. Providing Amcor with access to that material is an important step forward.”
Amcor said it will then use this recycled content to manufacture packaging solutions for its food and healthcare customers mainly in the Asia-Pacific market, but also for its global customers.
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By GlobalDataThe packaging company already has access to advanced recycled materials through its existing partnership with ExxonMobil, as well as its recent investment in Australian advanced recycling technology business Licella.
All of these efforts together will help Amcor to contribute to achieving its target of using 30% recycled content across its portfolio by 2030.
Amcor Flexibles Asia Pacific president Mike Cash said: “Our ability to deliver more sustainable packaging solutions containing recycled material is increasingly important to customers in all consumer categories.
“These partnerships will help enable Amcor to unlock opportunities for food and healthcare customers to leverage recycled content in their packaging and will also foster a circular economy by significantly reducing the need for virgin plastic.”
