An 85% equity stake in PET plastic recycler UCY has been made by IVL, thus boosting the Czech Republic and Europe’s plastic collection and recycling ambitions.
As a result of the investment, Indorama Ventures Public Company Ltd. (IVL), Bangkok/Thailand, will recycle about 1.12 billion additional post-consumer polyethylene terephthalate (PET) plastic bottles in the Czech Republic every year by 2025, increasing the total bottles recycled by UCY Polymers CZ s.r.o., Pilsen/Czech Republic, across the Czech Republic, Germany and Central Europe to 1.6 billion bottles/year.
IVL, a global sustainable chemicals company, is investing US$1.5 billion globally to expand recycling facilities and sustainable production, including boosting its recycling capacity to 750,000 tons/year by 2025.
UCY is a strategic fit for IVL as a backward integration into the company’s expanding recycled PET (rPET) footprint in Europe and across the world to secure feedstock for rPET products. UCY can produce 40,000 tons/year of recycled PET flake. IVL will develop UCY to serve the increasing demand for recycled PET in Europe. UCY will work with IVL’s existing PET flake production facilities in the region. These provide the washed and shredded post-consumer bottles as PET flake feedstock to produce recycled PET resin that is suitable for food contact use.