Abu Dhabi-based global trading platform for recycled plastics Rebound has signed a letter of intent (LoI) with Japanese company JEPLAN for a joint project to set up a polyethylene terephthalate (PET) recycling market in the UAE. The agreement was signed during the Make it in the Emirates Forum last month.
The new subsidiary of International Holding Company (IHC), a multi sector conglomerate, launched Rebound Plastic Exchange (RPX), the global quality-assured trading platform for plastic feedstock that enables buyers and sellers to efficiently trade recycled plastics.
Through a joint study, Rebound and JEPLAN will target partner companies in the UAE with the aim of establishing a supply chain for recycled PET in the country.
JEPLAN will be involved in quality surveys of used PET bottles collected in the UAE and verification of recycling costs and the plant’s manufacturing operations.
As per the joint study, a demonstration project for the construction of a PET chemical recycling plant is likely to be readied closer to COP28 UAE, the UN climate change conference, to be held in Dubai in November this year.
JEPLAN will be introducing its BRING Technology, a proprietary chemical recycling technology for PET plastics, allowing horizontal recycling of PET bottles into new PET bottles. Further, the recycling equipment implementing BRING Technology can also be introduced to conventional polymerization plants, allowing them to function as plastic recycling plants. It is a new recycling technology that can help introduce recycling to PET manufacturing methods throughout the world.
Headquartered in Kawasaki City, JEPLAN operates PET chemical recycling commercial plants using this technology in two sites in Japan.
