Welcome to the Plastics Weekly, NEO’s regular news monitoring of the plastics industry.
Every Monday, we publish a roundup of the top developments in plastics and sustainability – from regulatory changes to company news.
This week’s highlights:
- Chemicals giant Ineos Group will carry out a trial in the U.K. to recycle plastic waste to create food packaging. The company has partnered with Plastic Energy, developer of a synthetic oil made from plastic waste, on the country’s first plant that uses pyrolysis oil for plastics recycling. (Bloomberg)
- Plant-based packaging maker Footprint has announced plans to go public via a merger with an SPAC that could value the company at $1.6 billion. Footprint’s packaging products have reportedly eliminated more than 61 million pounds of plastic and are present in some of the biggest U.S. supermarkets, including Walmart, Target, Costco, Whole Foods and others. (CNBC)
- Multinational chemical firms are working to make more sustainable packaging and reduce plastic waste in China amid growing pressure to cut carbon emissions. Dow and BASF are among the industry heavyweights that have partnered with companies in the region to produce eco-friendly packaging, compostable plastic bags and other circular-economy solutions. (South China Morning Post)