Circular plastics – University to share in £100 million funding to lead major science and technology hub to reduce plastic waste 20-02-2024
Circular plastics
In a dramatic maritime incident on Monday (19), the Red Sea became the site of a perilous confrontation involving Houthi forces and a British vessel
The Houthi group claimed responsibility for the attack on the British merchant ship Rubymar, resulting in its sinking in the Gulf of Aden, as reported by Sky News Arabia.
According to Yahya Saria, a military representative of the Houthi movement, the crew of the Rubymar was safely evacuated during the operation. This development unfolds against a backdrop of escalating tension in the region, marked by intensified clashes between the Houthis and international forces.
Additionally, a video circulating on social media purportedly depicts the moment of the Rubymar’s sinking, though the authenticity of the footage remains unconfirmed pending independent verification. Circular plastics
Confirming the attack on the Rubymar, the United States Central Command (CENTCOM) specified that the British ship was struck by a missile. CENTCOM further noted that the crew was safely evacuated and transported to the nearest port by a commercial vessel providing assistance, accompanied by a US-led coalition naval vessel.
The incident did not conclude with the Rubymar’s sinking. The Houthis also claimed responsibility for shooting down a US reconnaissance drone, underscoring the complexity and peril of the conflict in the Red Sea region.
Crude Oil Prices Trend
Crude Oil Prices Trend by Polyestertime
University to share in £100 million funding to lead major science and technology hub to reduce plastic waste
The University’s Centre for Enzyme Innovation (CEI) will lead the Preventing Plastic Pollution with Engineering Biology (P3EB) Mission Hub to support the transition towards a circular plastics economy in the UK.
The University of Portsmouth is to share in £100 million of funding, it has been announced by the Department for Science, Innovation & Technology (DSIT) today (9 February).
The money will be given to six new ‘Engineering Biology Mission Hubs’ and 22 ‘Mission Award’ projects across the country, that will look to build on Engineering Biology’s enormous potential to address global challenges, drive economic growth, and increase national resilience. Circular plastics
The University’s Centre for Enzyme Innovation (CEI) will lead the Preventing Plastic Pollution with Engineering Biology (P3EB) Mission Hub, which also includes Bangor University, University of Cambridge, University of Edinburgh, Imperial College London, University of Manchester, and University College London. The P3EB Mission Hub will receive £11.2 million from the “UKRI Technology Missions Fund” over the next 5 years, with £3.5 million supporting the CEI in Portsmouth.
The P3EB Mission Hub is a pioneering initiative aimed at transforming end-of-life plastic waste using cutting-edge engineering biology technologies. Working in partnership, the CEI will use its transformative enzyme technology to impart value into plastic waste, incentivising its recovery and retention, and so reducing the amount destined for landfill, for incineration, or being discarded into our environment. Circular plastics
Caprolactam Prices In Europe Have Remained Stable, Reflecting sluggish downstream Demand
In recent weeks of February 2024, the price of Caprolactam in the European market has remained within a steady price range, even as feedstock prices for Benzene and Naphtha have risen. Meanwhile, the global energy market is grappling with uncertainties stemming from geopolitical conflicts, weather-related disruptions, and evolving economic conditions. Ongoing geopolitical tensions in the Middle East are contributing to fluctuations in oil futures. Circular plastics
The price of Crude oil appreciated by 4% during the week ending 16th February 2024, this marks a significant increase from the beginning of the week, when the international benchmark was trading at approximately $78 per barrel. However, it’s noteworthy that these prices are similar to the levels observed when the Yemeni Houthis started attacking ships in the Red Sea. Redirecting vessels from the Suez Canal to the Cape of Good Hope extends the journey between Asia and Europe by more than a week.
The rise in crude oil prices has not impacted the Caprolactam market, as weak demand from downstream industries has led to a decrease in fresh orders and reduced operational rates of Caprolactam production across Europe. Downstream manufacturers’ purchasing activity for Caprolactam has continued to decline sharply, as companies report reduced production needs and ongoing efforts to streamline inventory. Circular plastics
On the demand side, the downstream textile and automotive sectors did not perform well in the German market. The downstream Polyamide 6 market remained stagnant and showed little movement in the domestic German market.
French Firm Forms JV With Dallas Recycler to Service Automotive and Other Industries
Part of Forvia Group, the largest supplier to the automotive industry in France, Materi’act’s JV with PCR Recycling aims to accelerate the development and delivery of recycled compounds.
At a Glance
- Deal is expected to help spark demand in North America for use of recycled plastics in automotive and other industries
- Compounds with up to 85% CO2 reduction will be offered by 2030
- Applications include a range of automotive products such as instrument and door panels
France’s Materi’act is setting up a joint venture in Dallas, TX, with PCR Recycling to accelerate the development and delivery of recycled compounds for sustainable automotive parts with up to 85% CO2 reduction by 2030. Materi’act is part of the Forvia group, France’s first- and the world’s seventh-largest automotive technology supplier. Tier I Faurecia is a sister company. Circular plastics
The mission of the joint venture — Materi’act Dallas — is to secure a local, long-term feedstock of post-consumer recycled plastics and to produce recycled polymers to meet the growing needs of the automotive industry in North America. The newly formed company will collect feedstocks and recycle, refine, formulate, and compound the recycled polymers to meet carmakers’ stringent requirements.
Owens Corning assesses fiberglass alternatives
Owens Corning, a leading American company, is currently assessing its fiberglass reinforcements business for potential strategic shifts, including the possibility of divestment or a spin-off of its Glass Reinforcements division.
The Glass Reinforcements division, nestled within its Composites segment, is responsible for the manufacturing and distribution of glass fibers utilized for reinforcing plastic materials. With operations spanning 18 plants across 11 countries and boasting a revenue of approximately $1.3 billion, this division primarily serves sectors such as wind energy, infrastructure, transportation, and industrial components. Circular plastics
It’s important to note that certain products, such as non-wovens derived from glass fibers and WearDeck—a high-density polyethylene composite for exterior building applications, which does not contain wood—are excluded from this strategic evaluation.
To navigate this potential transformation, Owens Corning has engaged Morgan Stanley & Co. as its financial advisor. Their role involves conducting a comprehensive review of strategic alternatives, which may encompass a sale of assets or the spin-off of the division. However, the company has not specified a definitive timeline for these actions, indicating a deliberate and thorough approach to this process.
TOMRA acquires stake in AI waste flow monitoring start-up
In a bid to improve its position in the AI space, TOMRA has acquired a 25% stake in start-up PolyPerception, which develops AI-based waste flow monitoring for PET recyclers and sorting plants. Circular plastics
PolyPerception measures data at key points in the sorting process to unlock continuous quality assessment in sorted streams and identify the loss of good material in the residual stream. In turn, it is set to contribute to data-driven decisions.
It is also set to function as an automated compliance system. As local legislation and rules surrounding food-grade recycling become more rigorous, PolyPerception expects its technology to increase in demand.
After its initial collaboration with PolyPerception in December 2022, TOMRA expects that its stake in the company will strengthen its position in the artificial intelligence space and benefit its own pursuit of improved resource recovery. Circular plastics
Dr. Volker Rehrmann, head of TOMRA Recycling, explained: “By expanding our cooperation with PolyPerception, we can combine our advanced material sorting systems and cloud-based monitoring solution with the company’s innovative material analysis.
Collaborative Recycling Initiative Involving Greiner Packaging and Partners
Several companies, including Greiner Packaging, Siegwerk, and Krones, have joined forces on a recycling venture focused on polypropylene (PP) and polystyrene (PS) cups. Utilizing the hot caustic washing method, they successfully deinked and transformed rigid containers into high-quality white recyclates, defying the notion that these containers were unrecyclable according to certain Design for Recycling Guidelines. This process, commonly used in polyethylene terephthalate bottle recycling, effectively maintained ink formulation and print design integrity. Circular plastics
The initiative’s significance extends beyond mere recycling, as it highlights the potential of advanced recycling facilities. Notably, the findings emphasize the importance of reconsidering the impact of printing inks and coatings on the recycling process, advocating for the adoption of the test standard specified under DIN SPEC 91496—a viewpoint supported by the European Printing Ink Association.
These collaborative efforts mark a step forward in fostering a more efficient and sustainable circular packaging economy. Notably, Greiner Packaging recently partnered with Yaza, a dairy products company, to introduce traditional Mediterranean labneh in environmentally friendly packaging. The broader implication of these partnerships and initiatives underscores a collective commitment to innovation and sustainability in packaging solutions. Circular plastics
MEGlobal has recently unveiled its Asian Contract Price (ACP) for monoethylene glycol (MEG) slated for March 2024, setting it at US$850 per metric ton CFR (Cost and Freight) Asian main ports, according to a company announcement
This pricing decision for March 2024 is emblematic of the prevailing supply and demand dynamics in the Asian MEG market, as stated by MEGlobal.
It’s worth recalling that in the preceding month, MEGlobal had proposed its February 2024 MEG Asian Contract Price (ACP) at $850 per tonne, marking a $10 per tonne uptick compared to January’s ACP.
The pricing structure remains on a CFR Asia basis. Circular plastics
MEG, a vital chemical compound used in various industries such as textiles, packaging, and automotive, has been subject to fluctuating market conditions influenced by factors like production levels, global economic trends, and regional demand patterns. MEGlobal’s pricing strategy reflects its response to these intricate market dynamics.
The ACP announcement serves as a crucial indicator for market participants, providing insight into short-term pricing trends and allowing businesses to make informed decisions regarding procurement, inventory management, and pricing strategies.
The stability and competitiveness of MEGlobal’s pricing play a pivotal role in shaping the broader market landscape, influencing trade flows, investment decisions, and profitability across the MEG value chain. Circular plastics
Moreover, the transparency and clarity offered by MEGlobal through its regular ACP announcements contribute to fostering trust and confidence among industry stakeholders, facilitating smoother transactions and fostering long-term partnerships.
Looking ahead, stakeholders in the MEG market will closely monitor developments in supply and demand dynamics, as well as macroeconomic factors, to anticipate future pricing trends and adjust their strategies accordingly.
In conclusion, MEGlobal’s announcement of the ACP for March 2024 underscores its commitment to providing clarity and transparency in pricing while navigating the complexities of the dynamic MEG market landscape. Circular plastics
Circular plastics