Chemical Management

Rebound Plastic Exchange to facilitate global trade of recycled plastic, reducing plastic pollution

International Holding Company announced the establishment of Rebound Ltd to create an innovative solution to reduce the world's plastic pollution. The new subsidiary will launch Rebound Plastic Exchange, the global quality-assured trading platform for plastic feedstock that enables buyers and sellers to efficiently trade recycled plastic with trust and confidence.

Scheduled to open for trading in mid-2022, Rebound Plastic Exchange will introduce globally recognized standards, certification, insurance, and quality assurance into the supply chain. The platform aims to increase the efficiency of recycling plastic at scale, provide new economic opportunities and reduce the impact of plastic pollution on our planet.

 "We've developed a global trading solution that offers a large-scale opportunity to reduce some of the world's plastic pollution via recycling. By capturing the value of plastic feedstock, we allow companies across all sectors, from apparel to automotive, to access recycled content with confidence, while creating new opportunities for communities in the value chain to grow their economies."

Maryam Al Mansoori, General Manager of Rebound Ltd

Close to 100% of plastic waste can be recycled, but the global rate of plastic recycling sits at just 15%[1]. The existing market for recycled plastic is fragmented, complex and opaque which makes it difficult to source good quality product.  Rebound Plastic Exchange will fill a significant gap in the market, facilitating a truly circular economy as it creates a quality-assured platform to purchase and provide feedstock of recycled plastic to meet the growing demand from multinational companies.

There is expected to be a 6 million ton deficit[2] of recycled content based on the many commitments of global brands, many of whom are aiming for 20-30% increases[3] by 2025.  Various other regional pledges will further increase the demand gap for recycled plastic. For example, the EU Circular Economy Action Plan proposes mandatory requirements for recycled content for plastic products and recycling rates of 50% by 2025 and 55% by 2030.

Rebound Plastic Exchange creates new economic opportunities and a point of market entry for the estimated 80% of countries without domestic capacities to process or consume plastic feedstock, or both. Its passporting system will also support governments' commitments to the Basel Convention's Amendments while responsibly participating in the trade of plastic. By 2025, it is estimated that roughly 5 million tons of recycled plastic will have been traded via Rebound. Recycling this amount of plastic is also the CO2 equivalent of removing emissions from 5 million cars.

Rebound Plastic Exchange was founded by IHC, a multi-sector conglomerate and the largest company listed in the Abu Dhabi Securities Exchange. Syed Basar Shueb, IHC's Chief Executive Officer and Managing Director, commented: "This is a breakthrough concept coming from the UAE to the world with significant potential. The availability of a reliable advanced recycling system will play an essential role in helping address plastic in the environment of many countries around the globe. We are confident our investment in Rebound Plastic Exchange will be another successful business for IHC."

DHL Global Forwarding is one of the launch partners to support the quality assurance process which Rebound Plastic Exchange has created as part of its verification protocol. Each product will be sent by DHL to undergo laboratory tests based on accepted international standards before being traded.

Amadou Diallo, CEO of DHL Global Forwarding Middle East & Africa said: "As the global leader in logistics, we look forward to making Rebound Plastic Exchange's supply chains more sustainable and achieving environmental targets and business ambitions together. The symbolic signing of our partnership agreement at our MEA Innovation Centre also underlines our will to support UAE based Start Ups to connect people and improve lives."

Douglas Woodring, Lead Expert of Rebound Ltd, said: "Rebound Plastic Exchange is the needed intervention which will transform the world's plastic recycling industry. For the first time, the trade of plastic feedstock will see the same levels of trust and transparency that exist in the market for other commodities, increasing business confidence and encouraging greater trading volume, which will mean a reduction in plastic going to landfills."

Rebound Ltd.
Rebound Plastic Exchange is the global quality-assured platform launched by Rebound Ltd for plastic recycling that enables buyers and sellers to efficiently trade recycled plastic with trust and confidence. The platform captures the value of plastic feedstock, helping meet the growing demand for recycled content in global manufacturing while providing new economic opportunities and reducing the world's plastic pollution. Founded by IHC, the largest company listed on the Abu Dhabi Securities Exchange, Rebound Plastic Exchange facilitates investment into each step of the recycling value chain, thereby generating impactful and long-lasting change for the benefit of the planet. 

International Holding Company (IHC)
IHC was founded in 1998, as part of an initiative to diversify and grow non-oil business sectors in the UAE. Adhering to 'Abu Dhabi's Vision 2030', the ADX listed company endeavours to implement sustainability, innovation, and economic diversification initiatives across what is now one of the region's largest conglomerates. IHC has a clear objective of enhancing its portfolio through acquisitions, strategic investments, and business combinations. Comprising more than 30 entities, IHC seeks to expand and diversify its holdings across a growing number of sectors, including Real Estate, Agriculture, Healthcare, Food and Beverage, Utilities, Industries, IT and Communications, Retail and Leisure, and Capital.

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Lummus Strengthens Position in Circular Economy

Lummus Technology | January 10, 2024

Lummus Technology, a global provider of process technologies and value-driven energy solutions, announced a major investment in Resynergi, a pioneering leader in plastic recycling technology, to scale production of Resynergi's modular Continuous Microwave Assisted Pyrolysis (CMAP) technology. CMAP converts plastic waste into reusable materials at a rate 20 times faster than traditional pyrolysis methods. Lummus' President and Chief Executive Officer, Leon de Bruyn, will also join Resynergi's board of directors. "Lummus' is not only investing in Resynergi, we are partnering with true innovators to develop and scale sustainable solutions that advance the circular economy," said Leon de Bruyn, President and Chief Executive Officer of Lummus Technology. "Combining our global licensing expertise with Resynergi's proven CMAP technology will help us accelerate the conversion of plastic waste into high-quality, reusable material. I also look forward to collaborating with Resynergi's team and the board of directors to help reduce the carbon footprint of conventional plastics production and meet the growing demand for recycled plastics." "The investment from Lummus, along with their global licensing expertise, will allow us to scale our innovative recycling technology and collectively reduce our dependence on fossil fuels by addressing plastic waste and accelerate plastic circularity," said Resynergi Chief Executive Officer Brian Bauer. With an estimated 70% growth in plastic waste by 2050, Resynergi's modular CMAP technology is positioned to scale waste conversion creating positive social and environmental impact. Key Resynergi CMAP Technology Highlights Modular Design – allows for rapid deployment and scalability, making advanced recycling more affordable and versatile. Compact Footprint – 10X smaller reactor footprint and system-on-a-skid design eliminates local waste management and municipality's typical square footage requirements for a "recycling plant." Rapid Time to Value – Modules scale horizontally, allowing deployment and start up in weeks, rather than years. Faster Conversion – Harnessing microwave energy, plastic molecules are broken down 100X faster than traditional pyrolysis reactors. High Quality Output – Oil products that meet standards set by refinery partners for chemical recycling. Clean Energy Efficiency and Environmentally Friendly Process – CMAP generates clean products with up to 68% CO2e reduction. About Lummus Technology Lummus Technology is the global leader in developing technology solutions that make modern life possible and focus on a more sustainable, low carbon future. We license process technologies in clean fuels, renewables, petrochemicals, polymers, gas processing and supply lifecycle services, catalysts, proprietary equipment and digitalization to customers worldwide. About Resynergi Resynergi, headquartered in Rohnert Park, CA, is an advanced recycling technology company accelerating plastic circularity to protect human health and the environment. Its innovative, scalable and environmentally efficient Continuous Microwave Assisted Pyrolysis (CMAP) technology reduces fossil-based resource dependency by converting plastic into its molecular building blocks to be used to create new materials. Resynergi works with recycling organizations to secure used and hard-to-recycle plastics, effectively diverting millions of pounds of plastic from landfills and oceans. Its proprietary process creates clean, liquid hydrocarbons serving as feedstock for the synthesis of new plastics.

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Chemical Management

Charter Next Generation Launches GreenArrow™ Cavitated Recycle-Ready PE Films For Confectionery Applications Using Void Technologies'

Charter Next Generation | January 30, 2024

Charter Next Generation (CNG), a leading provider of sustainable films, announced that it has expanded its GreenArrow portfolio with a new line of cavitated polyethylene (PE) films. Developed in collaboration with VOID Technologies (VOID), the new recycle-ready films meet the rapidly growing demand for flow wrap and confectionery applications. Using VOID's patented VO+™ PE Voiding Agent Masterbatch and Machine Direction Orientation (MDO) film processing, CNG has successfully developed high-performing PE film structures that are opaque yet compatible with existing PE recycling streams making more packaging suitable for recycling. Adoption of MDO PE film is a rapidly growing industry trend as it enables recyclable, high-performing flexible packaging. By using VO+ Masterbatch, CNG can now produce thin gauge voided MDO PE films that offer a combination of low density and high opacity not achievable with mineral additives such as TiO2 pigments or CaCO3 cavitation agents. This innovation creates a unique PE-based recycle-ready alternative to conventional PP-based substrates that often require biaxial orientation. "CNG continues to raise the bar and re-invent packaging with a sustainability-first mindset. Using VOID's patented VO+ technology enables us to achieve the high opacity, ease of processing, and recycle-ready performance we are targeting for these films. This in turn allows our customers to reduce their use of virgin materials and process their packaging in existing polyethylene film recycling streams," said Brent Greiner, Vice-President of Technology at Charter Next Generation. The VO+ PE Masterbatch is added to PE resin to create nano and micro-scale voids, reducing density and creating high levels of opacity via light scattering through the voided structure. VOID's latest VO+ PE Masterbatch product is compliant with direct food contact standards in North America and Europe and has passed key recycling standards. James Gibson, CEO of VOID Technologies, commented, "CNG is a highly innovative and forward-thinking company. We are delighted with this collaboration and to be part of launching this new generation of recycle-ready voided PE films. As we look to the future, we are excited to be working with CNG across a range of projects that directly address sustainability and recycling targets." About Charter Next Generation Charter Next Generation (CNG) is North America's leading producer of highly engineered solutions used in the food, consumer, healthcare, and industrial markets. Committed to a sustainability-first approach, CNG leverages material science to engineer materials that help companies meet and exceed their sustainability goals. Known for world-class manufacturing capabilities and an innovation-driven approach, CNG operates fifteen facilities and employs over 2,200 employees and is a proud partner of Ownership Works®—a nonprofit partnering with companies to enable shared ownership, granting employees a stake in the value they create. About VOID Technologies VOID is a materials science company accelerating the transition to more sustainable plastics and packaging. The company combines its VO+ cavitation technology and R&D labs to help plastic and packaging companies rapidly develop new innovative products with a reduced environmental footprint. VOID's extensively patented VO+ technology was first conceived as part of a research initiative at Kimberly-Clark. Soon after, in 2015, VOID was launched as an independent company. Today, VOID has R&D labs and a compound manufacturing facility based in Neenah, Wisconsin (USA) and has commercial teams in Canada, France, and the UK.

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Chemical Management

LyondellBasell Launches Petrothene T3XL7420: A Revolutionary Polymer Compound for Optimized Manufacturing

LyondellBasell | January 24, 2024

LyondellBasell (LYB), a global leader in the chemical industry, is proud to announce the release of a cross-linkable, all-in-one flame-retardant compound, Petrothene T3XL7420, which is expected to deliver considerable cost savings while streamlining manufacturing processes. This new product offering also improves the quality of end products for wire producers in the automotive and appliance industries. Based on customer demand and industry need, LyondellBasell designed this innovative compound to address the need to optimize production line speeds and enhance manufacturing efficiency. Petrothene T3XL7420, is specifically formulated for use in Society of Automotive Engineers (SAE) primary wire applications, International Organization for Standardization (ISO) thin wall applications, and Underwriters Laboratories (UL) and Canadian Standards Association (CSA) appliance wire. Petrothene T3XL7420 offers several benefits that make it an attractive option for wire producers, including enhanced cure kinetics, increased stiffness for easier small gauge wire assembly and better barrier performance compared to other Petrothene XL. "Developing innovative solutions to address the ever-evolving needs of our customers is an important aspect of how we operate and continue to grow our market share," said Palmer Giddings, vice president Polyolefins at LyondellBasell. "Providing cost effective and efficient solutions that are UL and CSA certified, gives us a market advantage for this one-of-a-kind solution." Petrothene T3XL7420 has undergone rigorous testing and certification processes to ensure its quality and reliability. With this latest development, LyondellBasell reinforces its position as a leading provider of innovative solutions for the wire and cable industry and expects this compound to become the product of choice for a wide range of automotive and appliance wiring applications. About LyondellBasell We are LyondellBasell – a leader in the global chemical industry creating solutions for everyday sustainable living. Through advanced technology and focused investments, we are enabling a circular and low carbon economy. Across all we do, we aim to unlock value for our customers, investors and society. As one of the world's largest producers of polymers and a leader in polyolefin technologies, we develop, manufacture and market high-quality and innovative products for applications ranging from sustainable transportation and food safety to clean water and quality healthcare.

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Chemical Management

3E Acquires ChemChain, Bolstering its Supply Chain & Sustainability Offering

3E | January 16, 2024

Headquartered in Luxembourg, ChemChain’s proprietary IP and technology will bring an expanded, innovative approach to further augment 3E’s Supply Chain & Sustainability solution, 3E Exchange. 3E Exchange’s unified supply chain platform helps customers organize their global library of supply chain data and streamline workflows in a scalable and compliant manner. Specifically, 3E leverages its market leading digital product passport and renowned regulatory content capabilities to drive best-in-class supply chain management for its growing list of customers. Together, 3E and ChemChain are united in their mission to accelerate global supply chain transparency and sustainability with a unique combination of technology and regulatory expertise. “ChemChain and 3E share a vision to create a safer, more sustainable world that protects people, safeguards products, and helps businesses grow,” said Greg Gartland, Chief Executive Officer of 3E. “Together with ChemChain, 3E offers an unmatched combination of global regulatory expertise and a cutting-edge platform that dramatically simplifies transferring information along the value chain in a transparent and secure manner. 3E improves cross-functional engagement across global enterprises, and future-proofs products against ever-changing regulations. We look forward to the continued expansion of our supply chain solutions and empowering our clients to further accelerate their sustainability efforts.” With 175,000+ supplier relationships across all major geographies, the 3E Exchange platform drives a strong return-on-investment for its customers. Powered by 3E’s market leading regulatory expertise covering over 500,000 chemical substances, 3E Exchange enables superior supply chain management while also advancing companies’ ESG objectives. Continued momentum towards sustainable supply chains has highlighted that preparing for a circular economy should be a critical component of every company’s product strategy. Pete Girard, Managing Director of Supply Chain and Sustainability at 3E, said “The acquisition of ChemChain illustrates our continued focus on supply chain product innovation and thought leadership. The ChemChain team has incubated a novel and tech-forward approach to drive digital product passport adoption, and we look forward to integrating these technologies into 3E Exchange.” “The highly scalable digital product passport model offers a single source of truth that underpins sustainable supply chain management, while ensuring maximum protection of company trade secrets” added Lorenzo Zullo, Co-Founder and CEO of ChemChain. “As part of 3E, and leveraging tracked experience in end-to-end supply chain transparency across multiple industries, including textile & clothing, furniture, and detergents, ChemChain will accelerate innovation and position customers for success in the face of a highly complex and dynamic global regulatory landscape.” ChemChain represents 3E’s fourth acquisition announcement since its separation from Verisk in March 2022. Shearman & Sterling LLP served as the legal advisor to 3E. Cambrian and Elev8law served as the legal advisors to ChemChain. About 3E For more than 35 years the world’s leading companies have trusted 3E to provide the intelligent compliance solutions they need to ensure safety and sustainability. Unmatched Environmental, Health, Safety and Sustainability (EHS&S) and product compliance expertise empowers clients to improve chemical and workplace safety, product safety and stewardship and supply chain transparency. 3E is deeply committed to serving its more than 5,000 customers worldwide, representing a wide variety of industries and including the world’s largest chemical manufacturers, retailers and pharmaceutical companies. About ChemChain ChemChain is a trusted, decentralized, and globally accepted infrastructure that enables customers to build, exchange, store, and track chemical-related information along the supply chain. ChemChain’s proprietary architecture, underpinned by blockchain technology, facilitates a scalable and tamper-proof digital product passport environment.

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