Eastman Announces $250 Million Molecular Recycling FacilityJune 16th, 2021 by Editor
Eastman Chemical Company (NYSE:EMN) Board Chair and CEO Mark Costa and Tennessee Governor Bill Lee announced the company’s plans to build what it calls one of the world’s largest plastic-to-plastic molecular recycling facilities at its site in Kingsport, Tenn.
Through methanolysis, the facility will convert polyester textile waste that often ends up in landfills and waterways into durable products, creating an optimized circular economy.
Costa confirmed in a call that the recycled end product will be used in its branded products.
Over the next two years, the company says it will invest approximately $250 million in the facility, which will support Eastman’s commitment to addressing the global waste crisis and to mitigating challenges created by climate change, while also creating value for its stakeholders.
Utilizing the company’s polyester renewal technology, the new facility will use over 100,000 metric tons of plastic waste that cannot be recycled by current mechanical methods to produce premium, high-quality specialty plastics made with recycled content.
This facility, which is expected to be mechanically complete by year-end 2022, will contribute to the company achieving its ambitious sustainability commitments for addressing the plastic waste crisis, which includes recycling more than 500 million pounds of plastic waste annually by 2030 via molecular recycling technologies. The company has committed to recycling more than 250 million pounds of plastic waste annually by 2025.