Japanese fibres and textile maker Toyobo and 11 plastic value chain companies have jointly launched a new company to recycle used plastic.
R Plus Japan will facilitate the recycling of used plastics to help solve plastics-associated problems.
The new company is located in Minato-ku, Tokyo, and headed by Tsunehiko Yokoi as president. It commenced operation in June.
The 11 companies include Suntory MONOZUKURI Expert, Rengo, Toyo Seikan, J&T Recycling, Asahi Group, Iwatani, Dai Nippon Printing, Toppan Printing, Fuji Seal International, Hokkai Can, and Yoshino Kogyosho.
The new joint venture company will focus and invest in the development of Anellotech’s advanced Plas-TCat technology with commercialisation plans for 2027.
Using a one-step thermal-catalytic process, the technology can directly convert single-use plastics into basic chemicals.
The chemicals such as benzene, toluene, xylenes (BTX), ethylene, and propylene can then be used to make new plastics.
Anellotech CEO Dave Sudolsky said: “We believe this initiative by Anellotech and R Plus Japan, combining enabling Plas-TCat chemical recycling technology with the concerted efforts of committed supply chain players, illustrates the best model to aggregate and apply the required resources in amelioration of the problem of plastic waste.
“Plas-TCat’s unique ability to directly produce basic chemicals (used today to make most virgin plastics) from mixed plastics waste, at large scale, represents an economically viable and impactful solution to the plastic waste problem. We are excited by the opportunities ahead and look forward to collaboration with R Plus Japan in tackling this challenge.”