Welcome to the Plastics Weekly, NEO’s regular news monitoring of the plastics industry.
Every week, we publish a roundup of the top developments in plastics and sustainability – from regulatory changes to company news.
This week’s highlights:
- Chemical maker Dow Inc. has partnered with Lombard Odier Investment Managers and the nonprofit Alliance to End Plastic Waste to raise $500 million for a private-equity investment strategy focused on projects and companies working to curb plastic pollution. The Alliance, which is supported by companies including Dow, LyondellBasell Industries NV, PepsiCo Inc. and Procter & Gamble, plans to provide an anchor commitment for the strategy. (Private Equity News)
- U.S. states are weighing bans on phthalates — called “everywhere chemicals” because they’re found in various household goods — after studies found that high accumulations of the plastic-softening substance can lead to serious health issues in pregnancy and childhood development. Some states are considering bills to limit phthalates, which would put more pressure on manufacturers to either change national product lines or forgo markets with restrictions. (Bloomberg Law)
- Saudi Arabia’s Sabic, the world’s largest chemicals company by market value, has launched a resin made with ocean-bound plastic waste. The LNP Elcrin WF0061BiQ resin is a novel material that uses ocean-bound polyethylene terephthalate (PET) bottles as a feed stream for chemical upcycling into polybutylene terephthalate (PBT) resin. The new grade is the latest addition to Sabic’s portfolio of chemically upcycled LNP Elcrin iQ materials, which help support circularity and serve as potential replacements for virgin PBT resins. (Zawya)