SWINDON, 11 OCTOBER – Recycling Technologies has been shortlisted for an innovation award in the Chartered Institution of Wastes Management (CIWM) Sustainability and Resource Awards.
The CIWM Awards are the most prestigious in the industry and are judged as respected experts in the sector. The awards panel has recognised that Recycling Technologies has made huge advances in a short period of time developing a commercially viable plastic recycling solution.
The award – The Open Sky Award for Demonstrating Project Innovation – is highly coveted within the industry and recognises those who are able to find unique solutions, beneficial to their business and industry. Recycling Technologies has been shortlisted in the category alongside Jaguar Land Rover, Aquapak Polymers Ltd and Ramboll Environ, Coal Authority and Environment Agency.
Recycling Technologies’ shortlisting underlines the huge potential of its technology and the great steps it is taking to develop a truly innovative solution to a global problem, that of plastic waste.
At the World Economic Forum, the Ellen MacArthur Foundation and management consultancy, McKinsey, published a report, “The New Plastic Economy,” which found that: Globally, only 10% of the plastic produced is recycled The 311 million tonnes of plastic waste produced in 2014 is set to double over the next 20 years By 2025, there will be 1 tonne of plastic in the world’s oceans for every 3 tonnes of fish, and by 2050, plastic will exceed the fish by weight Recycling Technologies’ ambition is to provide a scalable solution to boost the global recycling rate, allowing the world to avoid the unthinkable 2050 prediction. The chemical recycling process has been embodied in the design of a machine, the RT7000, which will be assembled on production lines then installed at Material Recovery Facilities [MRFs] around the world. The Plaxx™ made by these machines is already usable as a low sulphur fuel and wax substitute and fractions will ultimately be used by global polymer manufacturers as the feedstock for making more polymer, therefore making plastic a sustainable resource.
Earlier this year, Recycling Technologies teamed up with Ricardo plc to enable the use of the highly innovative Plaxx<sup>&reg;</sup> fuel it creates to be trialled in Ricardo machines. The new fuel will be used in areas such as power generation and marine propulsion.