Biotrend and Freepoint Eco-Techniques Worldwide Ltd. have introduced a possible strategic partnership aimed toward increasing their footprint within the round plastics financial system. By leveraging their shared imaginative and prescient, this collaboration will improve their presence within the superior recycling trade.
Combining Experience for a Sustainable Future
In response to the official assertion, “In reference to this enterprise, Biotrend and Freepoint Eco-Techniques plan to develop superior recycling initiatives that can divert end-of-life waste plastic from landfills and incineration. The initiatives will remodel waste plastic by means of chemical recycling into pyrolysis oil. This product is used as a feedstock within the manufacturing of petrochemical merchandise, together with the resins used to make new plastic.”
Based in 2017, Biotrend is a number one Turkish firm that tackles waste administration and creates clear power. The corporate use superior know-how to transform waste from properties, farms, and forests into invaluable sources, together with recycled supplies, clean-burning gas, and even electrical energy. It has 17 services throughout Turkey that assist cut back waste and foster a extra sustainable future.
Due to this fact, by means of this partnership, the corporate brings its experience and its improvement of a 60,000-ton-per-year superior plastic recycling facility in Aliağa, İzmir, Turkey.
In the meantime, Freepoint Eco-Techniques focuses on constructing, proudly owning, and working large-scale services that convert waste plastic into pyrolysis oil to make new plastic. The corporate and its associates are creating services in North America, Europe and Southeast Asia, together with a flagship superior recycling facility in Ohio, USA. The ability can have the capability to recycle about 90,000 tons of waste plastic per yr and is projected to be one of many world’s largest upon completion in late 2024.
Based in 2011, Freepoint is a Stamford-based international service provider specialising in bodily commodities. Freepoint Eco-Techniques Worldwide Ltd., an affiliate of Freepoint Commodities LLC, gives eco-friendly merchandise and options to its prospects.
Be part of Forces to Sort out Plastic Air pollution
Biotrend’s CEO Özgür Umut Eroğlu stated, “This strategic partnership strengthens Biotrend’s management in plastic recycling and fosters a extra sustainable future.” He added, “We’re excited to collaborate with Freepoint Eco-Techniques and consider this partnership will carry important success to each firms.”
Oscar Gutierrez, President of Freepoint Eco-Techniques Worldwide, expressed, “The growth of our superior recycling footprint into Turkey, the Balkans and Central Asia represents an vital step ahead for Freepoint Eco-Techniques in its ongoing effort to assist resolve the plastic waste drawback on a world foundation.” He added, “Our firms share the aim of constructing superior plastic recycling infrastructure required to speed up the event of round financial system options for the good thing about the surroundings. Biotrend has a powerful monitor file of working built-in options for municipal stable waste in Turkey, and we stay up for constructing this new plastic recycling infrastructure collectively.”
On this strategic partnership, Biotrend and Freepoint Eco-Techniques are tackling plastic air pollution in a significant means. Their collaboration goals to develop superior recycling initiatives throughout Turkey, the Balkans, and Central Asia. This formidable initiative has the potential to divert a staggering 250,000 tons of waste plastic from landfills and incineration yearly, considerably decreasing plastic air pollution within the area.
As a part of the potential 50/50 enterprise, the events would create a strategic funding firm to develop and personal future initiatives. As well as, after finishing due diligence, Freepoint Eco-Techniques would purchase roughly 10% of Biotrend’s shares by means of a personal placement involving an funding in newly issued shares. Proceeds from this capital enhance can be used to develop and fund superior recycling services, together with the Aliağa facility.
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