Less than 1% of polypropylene is collected and recycled today in the world
PureCycle has conducted 350+ tests over the last 7 years to evaluate their proprietary recycling technology
PureCycle's plants have the capacity to process 130 million lbs of feedstock
The Path to Drawdown: Industrial Recycling
Project Drawdown defines recycling as the increased recovery of recyclable post-consumer waste (like metals, plastic, glass, etc.) from the industrial and residential sectors of the economy. Recycling replaces the disposal of recyclable materials in landfills and reduces the need to use new material for production.
Waste from manufacturing, construction, restaurants, office buildings, schools and mines accounts for about half of all waste. All that is grouped together as “industrial and commercial waste.” Much of it, though not all, can be recycled, and a range of strategies can enhance recycling rates.
Some of these strategies include create marketplaces for secondary materials to facilitate the exchange of recyclable and reusable goods, innovation in conversion technologies to make more materials recyclable, and adopting circular business models to recapture “waste” as a valuable resource.
Recycling industrial and commercial material can reduce emissions because producing new products from recovered materials often saves energy. As one example, forging recycled aluminum products uses 95% less energy than creating them from virgin materials.
Project Drawdown estimates that, by 2050, a serious commitment to recycling can help avoid 6.02 gigatons of GHG emissions. To get there, recycling practices need to be adopted much more widely that they are now:
- In 2014, 27% of recyclable waste was recycled
- By 2050, 68% of recyclable materials should be recycled
- That’s 2.6% CAGR between 2014 and 2050
If we can achieve this 68% recycling scenario, we can avoid up to 6.02 gigatons of GHG emissions.
PureCycle Technologies LLC (stock ticker: PCT) produces recycled polypropylene. It uses a recycling process that separates color, odor, and contaminants from plastic waste feedstock into recycled polypropylene and converts waste plastic into virgin-like plastic. The company was founded in 2015 and is based in Orlando, Florida.
PCT's Role in Drawdown
PureCycle converts waste polypropylene (PP), often used in packaging and clothing, into virgin quality PP. They source plastic feedstock from both curbside and non-curbside plastic waste streams.
By converting waste plastic into virgin-like plastic, PureCycle closes the loop on the circular economy.
PCT: What We Like
PureCycle has been forging partnerships in both the US and abroad to expand their plastic recycling operations. In November 2021, PureCycle became the official plastic recycling partner of Cleveland Browns, and in September 2021 they began a partnership with Mitsui & Co. to support the Japanese government's goal to increase plastic recycling toward 2030 and enhance supply capability of recycled polypropylene resin.